Gapping up
Select biotech/pharma related names showing strength after ASH presentation or other data release:
- GRCL +6%, ARGX +4.2%, ALVR +3.8%, PSTX +3.5%, DTIL +3.4%, CNTA +3.1%, ADPT +2.1%, BEAM +1.6%, IMGN +1.4%, CTIC +1.1%, COGT +1.1%, GLYC +1%
Other news:
- COUP +26.8% (to be acquired by Thoma Bravo for $81/share, enterprise value of $8 billion; also issued earnings)
- WEBR +21.5% (to be taken private by BDT Capital Partners for $8.05/share; deal expected to close in 1H23)
- HZNP +15.4% (Amgen (AMGN) confirms it will acquire HZNP for $116.50/share in cash; no longer in merger discussions with Sanofi (SNY))
- BVH +10.4% (Amendment of Tender Offer to Increase Offer Price to $25.00 per Share and Extend Tender Offer Until December 23)
- CNX +2.5% (provides update on Appalachia-Focused strategy)
- BSX +1.2% (announces strategic investment to acquire majority stake of Acotec Scientific Holdings)
Analyst comments:
- BOX +3.7% (upgraded to Overweight from Neutral at JP Morgan)
- GKOS +1.9% (upgraded to Buy from Neutral at Citigroup)
- BBY +1.8% (upgraded to Neutral from Sell at Goldman)
- CR +1% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- BDX +0.9% (upgraded to Neutral from Sell at Citigroup)