Gapping up
M&A news:
- PRVL +83.6% (Lilly (LLY) to acquire Prevail Therapeutics for $22.50 per share in cash); LLY +2.4%
- THBR +9.4% (Thunder Bridge Acquisition II, Ltd: indie Semiconductor enters definitive merger agreement with Thunder Bridge Acquisition II, Ltd)
Other news:
- OCX +58.5% (enters licensing agreement with Burning Rock (BNR) to test for early stage lung-cancer patients in China)
- AVXL +40.3% (announces its Phase 2 trial of ANAVEX2-73 in adult female patients with Rett syndrome met primary and secondary endpoints)
- IMRN +15.6% (Immuron SARS-CoV-2 research agreement with Monash University)
- VTVT +14.8% (entered into a licensing agreement with Anteris Bio for worldwide rights to vTv's novel clinical-stage Nrf2 activator compound, HPP971)
- PQG +9.4% (completed sale of Performance Materials business for $650 mln; declared $1.80/share special cash dividend)
- ATNX +7.2% (Athenex: Almirall announces FDA approval of Klisyri, a new innovative topical treatment for actinic keratosis)
- RIDE +5.8% (CWH CEO tweets that CWH and RIDE will make special announcement at joint press conference tomorrow)
- TGTX +5.1% (prices 6.23 mln shares of common stock at $43.50 per share)
- ALLO +4.8% (Allogene and Overland Pharmaceuticals form joint venture in Greater China to develop and commercialize AlloCAR T cell therapies)
- BIDU +3.9% (mulling making its own electric cars according to Reuters)
- CWH +3.6% (CWH CEO tweets that CWH and RIDE will make special announcement at joint press conference tomorrow)
- ESPR +3.5% (appoints Sheldon Koenig as COO effective today)
- IVAC +3.1% (received $5 mln EVA digital night-vision sensor contract),
- VSTM +2.6% (announced the initiation of a Phase 2 registration-directed clinical trial of VS-6766; to seek FDA accelerated approval, pending trial outcome)
- ZNGA +2.4% (prices $762 mln of 0% convertible senior notes due 2026 in a private placement; estimates net proceeds from the offering will be ~$746.3 mln)
- MDT +2.3% (procedure shows significant, swift pain relief and sustained improvement for cancer patients)
- ARVN +2.2% (continued strength; announced $250.0 mln common stock offering)
- RC +2.2% (raised dividend)
- CNC +2.1% (announced it has signed a definitive agreement to acquire PANTHERx)
- IIPR +2% (raised dividend)
Analyst comments:
- MT +5% (upgraded to Buy from Hold at Societe Generale)
- CNHI +3.6% (upgraded to Buy from Hold at Deutsche Bank)
- FLS +3.3% (upgraded to Buy from Hold at Stifel)
- ZNGA +3.1% (upgraded to Overweight from Equal Weight at Wells Fargo)
- EMR +2.6% (upgraded to Buy from Hold at Deutsche Bank)
- SID +2.4% (upgraded to Buy from Neutral at Goldman)
- LITE +2.4% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- MDT +2.4% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- AGCO +2.2% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
- BMY +2.2% (added to Conviction Buy List at Goldman)
- DE +1.9% (initiated with an Outperform at Oppenheimer)
- MPW +1.6% (upgraded to Buy from Hold at Deutsche Bank)
- REVG +1.6% (upgraded to Equal-Weight from Underweight at Morgan Stanley)
- OXY +1.5% (upgraded to Equal Weight from Underweight at Wells Fargo)
- IONS +1.4% (upgraded to Outperform from Market Perform at Cowen)
- AY +1.2% (upgraded to Buy from Neutral at Seaport Global Securities)
- XOM +1.1% (upgraded to Overweight from Equal Weight at Wells Fargo)