How high could NMT Medical (NMTI) shares go?

Shares of NMT Medical, Inc. (NASDAQ:NMTI) have nearly doubled since the beginning of the month, on relatively no news.

With no news, why would the stock be up nearly 100% in the last 3 weeks? We think someone knows something, and it has to do with their clinical trials.

According to NMTI's website, their CLOSURE I trial is supposed to wrap up in 2010. The trial Will compare the effectiveness (in terms of preventing stroke or TIA recurrence) of permanent PFO closure with the STARFlex septal repair implant against conventional medications in 900 patients. It is designed to determine which form of care is superior.

The company also has a potential migraine cure with their PFO technology. NMT Medical is investigating the potential connection between a common cardiac defect called a PFO and brain attacks such as migraine headaches, stroke and transient ischemic attacks (TIAs). A PFO can allow venous blood, unfiltered and unmanaged by the lungs, to enter the arterial circulation of the brain, possibly triggering a cerebral event or brain attack. More than 18,000 PFOs have been closed globally with NMT's implant technology.

Fellow Masters, NMTI has been flying under the radar for a while now, but someone out there is taking note of their potentially groundbreaking new treatments. If they get some good FDA news this year, shares could jump to $10.