Aceto Hits 52-Week High On Acquisition News (ACET)

Shares of Aceto Corporation ACET are currently up 8.8% at $8.92 per share during Thursday afternoon trading. Aceto Corporation announced earlier today that it had reached an agreement for its wholly-owned subsidiary to acquire certain assets of Rising Pharmaceuticals, Inc. Chairman and CEO Albert Eilender said, "This transaction represents a significant step for Aceto by establishing another platform for our growth in the Health Sciences arena. As part of our strategic planning process, we had identified that further expansion of our finished dosage form product offerings from both foreign and domestic facilities complements our core strength of sourcing active pharmaceutical ingredients. Our initial experience with finished dosage form products confirmed our belief that this is a natural expansion of our existing business segment. With Rising as a part of our Health Sciences business segment, we will be able to market finished dosage form pharmaceutical products to the buyers of such products." Today's trading range for shares of Aceto Corporation (ACET) has been between $8.27 and $8.94 per share. The consensus price target of analysts covering the company's stock is $10.00 per share. Volume of 373,000 shares is more than double the daily average volume of 164,000 shares. Read more from Benzinga's Company news.