Gapping up
In reaction to strong earnings/guidance:
- LEN +4.6%, FDS +1.9%
M&A news:
- AGN +31.9% (Allergan confirms deal to be acquired by AbbVie (ABBV) for approximately $63 bln, or ~$188.24 per share in cash & stock)
Select Biotech/pharma stocks trading higher:
- EOLS +8%, ENDP +4.7%, TEVA +3%, MYL +3%, MNK +2.7%, PRGO +2.2%, IBB +1.1%
Other news:
- NTEC +5.3% (publication of results from an earlier Phase 2 clinical study of the Accordion Pill-Carbidopa/Levodopa in Parkinson's disease patients)
- XNCR +8% (will replace HF in the S&P SmallCap 600)
- RMBS +4.7% (sells token services and ticketing businesses to Visa (V))
- KRYS +4.4% (prices underwritten public offering of 2.5 mln shares of its common stock at a public offering price of $40.00 per share)
- ARQL +3.4% (prices underwritten public offering of 9.25 mln shares of its common stock at a price to the public of $9.75 per share)
- GNFT +2.8% (Genfit and Terns Pharmaceuticals announce $228 mln strategic partnership for the development and commercialization of elafibranor in Greater China)
- NBRV +2.4% (announces European Medicines Agency validation of Marketing Authorization Application for IV and oral formulations of lefamulin)
Analyst comments:
- PYX +14.9% (initiated with a Outperform at Imperial Capital; tgt $71)
- GRUB +4.4% (upgraded to Buy from Neutral at Citigroup)
- RMTI +3.7% (initiated with Overweight at Cantor Fitzgerald)
- CBAY +2.5% (initiated with Buy at Stifel)
- CMG +1.2% (initiated with an Outperform at Credit Suisse)