Biosensors (B20.SG) off 1.9% at $1.06 as investors digest yesterday’s 8.0% gain fuelled by hopes of heart-stent maker being acquired following Autumn Eagle's 29.47% stake purchase, says Dow Jones. 

Volume mere fraction of yesterday’s 62.3 million shares, suggests underlying demand still firm. Price expected to hold above 5-day moving average, last at $1.03. “We believe Biosensors is a worthy takeover target as it is technologically more advanced than its competition,” says DBS Vickers, which has Buy call with $1.20 target. 

 

Notes, company’s biodegradable polymer drug-eluting stent one generation ahead of competition, has been tested to be safer, more effective than rival products. Autumn Eagle acquired stake from 7 vendors, making it Biosensors’ largest shareholder.