Pre-Open Stock Movers 09/15: (AERI) (ACRX) (NTWK) Higher; (SQNS) (PAH) (SRPT) Lower (more...)
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Aerie Pharma (NASDAQ: AERI) 65% HIGHER; reported the successful 90-day primary efficacy results of its 12-month Phase 3 “Mercury 1” clinical trial for its fixed-dose combination product candidate, Roclatan. The study achieved its primary efficacy endpoint demonstrating statistical superiority over each of its components, including Aerie product candidate Rhopressa (netarsudil ophthalmic solution) 0.02%, and market leading prostaglandin analogue (PGA) latanoprost, all of which were dosed once daily in the evening.
Sequans Communications S.A. (NYSE: SQNS) 15.8% LOWER; announced the pricing of an underwritten public offering of American Depositary Shares (ADSs), representing 15,151,520 ordinary shares, at a price of $1.65 per ADS, in an underwritten public offering under an effective shelf registration statement (the Offering) filed with the Securities and Exchange Commission (the SEC).
AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX) 16% HIGHER; will announce the results of its multicenter, open-label Phase 3 clinical study of ARX-04, known as SAP303. The study was conducted in patients 40 years and older who have moderate-to-severe acute pain following a surgical procedure. Patients were administered one dose of ARX-04 (sufentanil sublingual tablet, 30 mcg) every 60 minutes, as needed for pain management, for up to 12 hours.
NetSol Technologies (NASDAQ: NTWK) 15.7% HIGHER; reported Q4 EPS of $0.19, versus ($0.07) reported last year. Revenue for the quarter came in at $19.1 million, versus $15.39 million reported last year. GUIDANCE: NetSol Technologies sees FY2017 revenue of $73 - $75 million.
AcelRx Pharmaceuticals, Inc. (Nasdaq: ACRX) 12.5% HIGHER; announced that in an open-label Phase 3 trial (SAP303), investigational product candidate ARX-04 (sufentanil sublingual tablet 30 mcg) was well tolerated in the management of moderate-to-severe acute pain in post-operative study patients, including elderly patients and those with organ impairment. Regardless of age and organ function, approximately 2 in 3 patients had no adverse events during the study (63% of all patients, 63% of those aged 65 years, 62% of those with hepatic impairment, 70% of those with renal impairment). The most common adverse events were nausea and headache. On a global assessment of ARX-04 as a method of pain control, 90% of healthcare professionals and 87% of patients responded "good" or "excellent."
Sophiris Bio (NASDAQ: SPHS) 11.9% HIGHER; Roth Capital initiates coverage with a Buy rating and a price target of $8.00
Lakeland Industries (NASDAQ: LAKE) 10.7% HIGHER; reported Q2 EPS of $0.20, $0.10 better than the analyst estimate of $0.10. Revenue for the quarter came in at $22.3 million versus the consensus estimate of $22.01 million.
Acacia Research (NASDAQ: ACTG) 8% HIGHER; reportedly won a $22 million judgement against Apple.
Apogee Enterprises (NASDAQ: APOG) 6.5% HIGHER; reported Q2 EPS of $0.77, $0.10 better than the analyst estimate of $0.67. Revenue for the quarter came in at $278.5 million versus the consensus estimate of $268.05 million. GUIDANCE: Apogee Enterprises sees FY2017 EPS of $2.80-$2.90, versus prior guidance of $2.70-$2.85 and the consensus of $2.83.
Platform Specialty Products Corporation (NYSE: PAH) 5.7% LOWER; announced that it has commenced an underwritten public offering of $350 million of shares of its common stock. In connection with the offering, Platform intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. All of the shares of common stock to be sold in the offering are to be sold by Platform.
Arena Pharma (NASDAQ: ARNA) 5.2% HIGHER; FBR Capital initiates coverage with a Outperform rating and a price target of $6.00
bluebird bio (NASDAQ: BLUE) 4.9% HIGHER; Goldman Sachs upgraded from Buy to Conviction Buy with a price target of $135
Extreme Networks (NASDAQ: EXTR) 4.7% HIGHER; DA Davidson upgraded from Neutral to Buy with a price target of $5.00.
Sarepta Therapeutics (NASDAQ: SRPT) 4.3% LOWER; giving up some intra-day gains, Jefferies analysts said they see not impact on approvability of eteplirsen, citing a KOL. Reiterated an Underperform rating and price target of $7.00.
Star Bulk Carriers (NASDAQ: SBLK) 4% LOWER; reported Q2 EPS of ($0.69), $0.03 worse than the analyst estimate of ($0.66). Revenue for the quarter came in at $52.65 million versus the consensus estimate of $41.26 million. As of August 31, 2016 we have entered into Restructuring Letter Agreements (the "RLAs") with all 15 banks and export credit agencies (the "Lenders") providing our senior secured credit facilities, to waive 100% of the principal repayments for 25 months, for the period commencing June 1st 2016 and ending June 30th 2018 and waive or substantially relax financial covenants until December 31st 2019. The agreements are subject to certain conditions precedent, including an equity raise of not less than $50.0 million of net proceeds to be completed by September 30th 2016. Also announced it plans to make an underwritten public offering for $51.5 million gross proceeds of its common stock.
Achillion Pharmaceuticals (NASDAQ: ACHN) 2.5% HIGHER; FBR Capital initiates coverage with a Outperform rating and a price target of $16.00.
CLARCOR (NYSE: CLC) 1.4% LOWER; reported Q3 EPS of $0.73, $0.04 better than the analyst estimate of $0.69. Revenue for the quarter came in at $331.4 million versus the consensus estimate of $337.91 million. GUIDANCE: CLARCOR sees FY2016 EPS of $2.57-$2.63, versus prior guidance of $2.60-$2.80 and the consensus of $2.66. Sees sales of $1,380 to $1,390 million versus prior of $1,375 to $1,415 million.
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