Pre-Open Stock Movers 09/14: (VTAE) (SRPT) (HLF) Higher; (AGIO) (CALD) (CBRL) Lower (more...)

September 14, 2016 9:22 AM EDT

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Today's Pre-Open Stocks Movers

Vitae Pharmaceuticals, Inc. (Nasdaq: VTAE) 157.8% HIGHER; Allergan plc (NYSE: AGN), and Vitae Pharmaceuticals, Inc. (Nasdaq: VTAE) announced that they have entered into a definitive agreement under which Allergan will acquire Vitae for $21.00 per share, in cash, for a total transaction value of approximately $639 million. The Boards of Directors of both companies have unanimously approved the transaction.

Sarepta Therapeutics (NASDAQ: SRPT) 15.3% HIGHER; Ron Farkas is no longer at the FDA, which is viewed as a positive for potential approval.

Heat Biologics, Inc. (Nasdaq: HTBX) 8% HIGHER; announced that the company has resumed enrollment in its Phase 1b trial evaluating HS-110 in combination with nivolumab (Opdivo®), a Bristol-Myers Squibb anti-PD-1 checkpoint inhibitor, for the treatment of non-small cell lung cancer (NSCLC). The decision to resume trial enrollment was based on the positive data reported in June, including two clinical responses in cold tumor patients, and enabled by additional company funding through the exercise of warrants, as reported in the latest company financial and corporate update.

Aerie Pharma (NASDAQ: AERI) 7.6% HIGHER; Raymond James initiated coverage with a Strong Buy rating and a price target of $48.00.

Asterias Biotherapeutics, Inc. (NYSE: AST) 7% HIGHER; presented positive interim efficacy data from the 10 million cell cohort in the Company's ongoing AST-OPC1 SCiSTAR Phase 1/2a multicenter clinical study in complete cervical spinal cord injury patients. While early in the study, with only 4 of the 5 patients in the cohort having reached 90 days after dosing, all patients have shown at least one motor level of improvement so far and the efficacy target of 2 of 5 patients in the cohort achieving two motor levels of improvement on at least one side of their body has already been achieved. Patient improvements are being measured by the ISNCSCI neurological classification scale widely used to quantify functional status of patients with spinal cord injuries. As suggested by existing research, patients with complete cervical spinal cord injuries that show two motor levels of improvement on at least one side may regain the ability to perform daily activities such as feeding, dressing and bathing.

At Home Group (NYSE: HOME) 7% HIGHER; reported Q2 EPS of $0.13, versus $0.16 reported last year. Revenue for the quarter came in at $188.4 billion versus the consensus estimate of $156 million. GUIDANCE: At Home Group sees FY2017 EPS of $0.53-$0.56. At Home Group sees FY2017 revenue of $738-750 million.

Agios Pharmaceuticals, Inc. (Nasdaq: AGIO) 5% LOWER; announced that it is offering to sell, subject to market and other conditions, up to $150 million of its common stock in an underwritten public offering. Agios also intends to grant the underwriters a 30-day option to purchase from it up to an additional $22.5 million of shares. All of the shares in the offering are to be sold by Agios. The proceeds of the offering are expected to be used to fund the companys clinical and research development activities. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.

Array BioPharma (Nasdaq: ARRY) 4% HIGHER; announced today that it has reached agreement with the U.S. Food and Drug Administration (FDA) regarding a Special Protocol Assessment (SPA) related to BEACON CRC, a global Phase 3 trial of encorafenib and Erbitux® (cetuximab), with or without binimetinib, versus standard of care in patients with BRAF-mutant colorectal cancer (CRC) who have previously received first-or second-line systemic therapy.

Herbalife (NYSE: HLF) 3.6% HIGHER; Icahn said he's requested to buy up to 50% of HLF with the FTC.

Community Health (NYSE: CYH) 3.5% HIGHER; Susquehanna upgraded from Neutral to Positive with a price target of $18.00.

Callidus Software Inc. (NASDAQ: CALD) 3.5% LOWER; announced that it is commencing an underwritten registered public offering of 4,000,000 shares of its common stock. CallidusCloud also intends to grant to the underwriters an option to purchase up to an additional 600,000 shares of its common stock to cover over-allotments.

Cracker Barrel (NASDAQ: CBRL) 2.8% LOWER; reported Q4 EPS of $2.12, $0.01 worse than the analyst estimate of $2.13. Revenue for the quarter came in at $745.6 million versus the consensus estimate of $742.34 million. Compared to the prior year fourth quarter, comparable store restaurant sales increased 3.2%, marking the Company's largest quarterly outperformance relative to the casual dining industry in fiscal 2016; comparable store retail sales increased 3.5%.

Coach (NYSE: COH) 2.5% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $32.00.

Macy's (NYSE: M) 2.3% HIGHER; Citi upgraded from Neutral to Buy.



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