If you are currently on the lookout for stocks in the medical devices space then it might be the right time to take a closer look at Neovasc Inc (NASDAQ:NVCN). The stock has been in the middle of a strong run in recent days and it continued last Friday, as it ended the day with gains of as much as 8%.
On Friday, NVCN stock surged 8.09% at $0.8000 with more than 1.23 million shares, compared to its average volume of 464.57K shares. The stock has moved within a range of $0.7200 – 0.8000 after opening the trade at $0.7100.
The rally on Friday took its gains for the week to as much as 16% and this morning it might be a good idea for investors to keep an eye on the Neovasc stock.
Last week the stock got a major boost after the company announced that it had got the much needed approval from the United States Food and Drug Administration for its CORSICA II Clinical trial. It goes without saying that it was a significant development for the company and may have resulted in the strong rally in Neovasc.
It should be noted that the company got the approval after having been locked in talks with the FDA over the course of several months. Although this is a major development, it remains to be seen if it can help the Neovasc stock to hold on to its momentum in the coming days.