Chester County Daily News Business Briefs are short summaries and links to important Chester County’s business stories not included in VISTA Today’s daily news stream.
ChesPenn Community Dental Clinic
Pennsylvania Business Daily reported last week the Chester County Commissioners presented ChesPenn Community Dental Clinic at 744 Lincoln Highway in Coatesville with $25,000 as part of its annual appropriations to organizations and nonprofits in the area. The clinic serves more than 6,000 patients annually, providing low-cost dental care, education, screenings and sealant applications as part of its goal to make sure that no residents of Chester County suffer from untreated dental disease.
Chesterbrook-based AmerisourceBergen (NYSE:ABC) hit a new 52-week high during trading on Thursday after RBC Capital raised their price target on the stock from $110.00 to $120.00, American Banking & Market News reports. RBC Capital currently has an outperform rating on the stock. AmerisourceBergen Corp. traded as high as $115.93 and last traded at $115.88, with a volume of 1,290,647 shares changing hands. The stock had previously closed at $113.81. AmerisourceBergen is the only Chester County company included in FORTUNE Magazine’s list of America’s top 500 companies. More on the company’s current trading activity here.
Downingtown STEM Academy
Philly.com reported over the weekend Downingtown’ STEM Academy was named the most challenging school in Pennsylvania in the Washington Post’s annual list of “America’s Most Challenging High Schools.” The academy, which opened in 2011, was ranked 95th in the country. Four other Chester County high schools including Conestoga and Unionville High Schools were included in the Post’s rankings.
Vishay Precision Group
Vishay Precision Group (NYSE: VPG), one of the 30 publically traded companies in Chester County, experienced unusually high volume on Apr. 23, as the stock gained 0.85% to a closing price of $15.39 according to Equities.com. The stock saw 70,635 shares trade hands over the course of the day on 565 trades. Given that the stock’s average daily volume over the last month has been 43,126 shares a day, this represents a pretty substantial spike over the norm.
OCTA Finance issued a report last week stating Recro Pharma, Inc.(NASDAQ: REPH) raised $7.78 million in new financing last week, 100 percent of what the Malvern-based pharmaceutical company was seeking. Recro will use the money to fund their acquisition of of Alkermes plc. The total amount raised is 1,298.99% bigger than the average pharmaceutical companies raise at this point in their development and seen as a signal of high trust in Recro’s ability to deliver on expectations.
Kennett Square Dish.com announced the grand opening of Penn Medicine’s newest state-of-the-art facility in southern Chester County is June 1. The new facility named Penn Medicine Southern Chester County is located at the intersection of Route 1 and Route 796 in West Grove. Once opened, the facility will offer Penn Medicine’s southern Chester County clients convenient access to the network’s finest healthcare.