Gapping up
In reaction to strong earnings/guidance:
- EXAS +12.7%, ADMS +7.3%, TRXC +5.9%, DXCM +4.1%, NVTA +2.3%, ABMD +1.1%
M&A news:
- AXSM +154.8% (after announcing that AXS-05 met the prespecified primary endpoint and significantly improved symptoms of depression in the ASCEND Phase 2 trial in major depressive disorder)
- LXFT +82.5% (to be acquired by DXC Technology (DXC) for $59/share in cash)
- LOXO +65.3% (to be acquired by Eli Lilly (LLY) for $235/share in cash)
Other news:
- SAGE +34.9% (SAGE-217 meets primary and secondary endpoints in phase 3 clinical trial in postpartum depression)
- INSM +26.9% (provides update on ARIKAYCE U.S. launch and outlines strategic priorities for 2019)
- NEPT +23.5% (received its license to process cannabis from Health Canada)
- AKBA +6.8% (discloses that the IMDC held another meeting in December and recommended that the global Phase 3 PRO2TECT and INNO2VATE programs for vadadustat continue and did not recommend any modifications to the programs)
- LQDA +3.8% (reports positive interim safety data from its open-label, multicenter Phase 3 clinical trial (INSPIRE) evaluating LIQ861)
- GE +3.3% (reports of Apollo interest in jet lease unit)
- SSNC +2% (files prospectus supplement covering the offer and sale from time to time of up to 792,968 shares held by selling shareholder Impala )
- TSLA +1.5% (will be breaking ground on Shanghai gigafactory today; aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year)
- MU +1.1% (continued strength)
Analyst comments:
- EPZM +4% (upgraded to Outperform from Mkt Perform at Leerink Partners)
- FIVN +2% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- CRM +1.9% (upgraded to Buy at Pivotal Research Group)
- DG +1.9% (upgraded to Overweight from Sector Weight at KeyBanc Capital Mkts)
- AMZN +1.8% (initiated with a Buy at Pivotal Research Group; tgt $1920)
- ECA +1.1% (upgraded to Outperform from Market Perform at BMO Capital Markets)
- GM +1% (upgraded to Outperform from Market Perform at BMO Capital Markets)
