Pre-Open Stock Movers 09/21: (EBIO) (CONN) (CLVS) Higher; (MSTX) (MIRN) (CDNA) Lower (more...)

September 21, 2016 9:29 AM EDT

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Today's Pre-Open Stock Movers

Mast Therapeutics, Inc. (NYSE: MSTX) 84.2% LOWER; reported top-line results from EPIC, a Phase 3 clinical study of its investigational new drug vepoloxamer (also known as MST-188) for the treatment of individuals with sickle cell disease experiencing vaso-occlusive crisis (VOC). The study did not meet its primary efficacy endpoint of demonstrating a statistically significant reduction in the mean duration of VOC (82 hours in the vepoloxamer group compared to 78 hours in the placebo group in the intent-to-treat population (p=0.09)). There were no statistically significant differences between treatment groups in the intent-to-treat population across the two secondary efficacy endpoints, rate of re-hospitalization for VOC and the occurrence of acute chest syndrome. Consistent with previously conducted studies, vepoloxamer was generally well tolerated with no statistically significant differences in treatment-related serious adverse events in the vepoloxamer group compared to the placebo group. No deaths occurred on the study.

Mirna Therapeutics, Inc. (Nasdaq: MIRN) 19.2% LOWER; announced its decision to close the ongoing Phase 1 study of MRX34, its investigational microRNA therapy for multiple cancers. The Company voluntarily halted enrollment and dosing in the clinical study following multiple immune-related severe adverse events (SAE) observed in patients dosed with MRX34 over the course of the trial.

Eleven Biotherapeutics, Inc. (Nasdaq: EBIO) 16.3% HIGHER; Eleven Biotherapeutics and Viventia Bio Inc., announced that the two companies and the shareholders of Viventia entered into a definitive share purchase agreement under which Eleven Biotherapeutics agreed to, and simultaneously completed, the acquisition of Viventia. Under the agreement, Eleven purchased all of the outstanding capital stock of Viventia in exchange for the issuance of 4,013,431 newly issued shares of Eleven common stock, which represented approximately 19.9% of the voting power of Eleven as of immediately prior to the issuance of such shares, and the agreement by Eleven to pay to the selling shareholders certain post-closing contingent cash payments upon the achievement of specified milestones and based upon net sales related to Viventias lead product candidate, Vicinium.

Conn's Inc. (NASDAQ: CONN) 10.7% HIGHER; Stifel upgraded from Hold to Buy with a price target of $16.00.

CareDx, Inc. (Nasdaq: CDNA) 10.5% LOWER; announced the pricing of its public offering of 2.25 million shares of its common stock at a price to the public of $4.00 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to 337,500 additional shares of its common stock. All of the shares will be offered and sold by CareDx.

Clovis Oncology Inc (NASDAQ: CLVS) 7.9% HIGHER; adds to gains on continued takeover chatter. Credit Suisse upgrades to Outperform on takeover potential.

Amira Nature Foods Ltd. (NYSE: ANFI) 7.9% HIGHER; Jefferies initiates coverage with a Buy rating and a price target of $13.00.

Adamas Pharmaceuticals, Inc. (Nasdaq: ADMS) 6.1% HIGHER; announced the results of the EASE LID 3 study, the second Phase 3 trial of ADS-5102 (amantadine hydrochloride) extended-release capsules for the treatment of levodopa-induced dyskinesia (LID) in patients with Parkinson’s disease (PD). The trial met its primary endpoint, the reduction of the UDysRS (Unified Dyskinesia Rating Scale) total score at week 12 (p<0.0001), reflecting a decrease in the duration, intensity and disability associated with LID. In addition, a statistically significant reduction in OFF time (a key secondary endpoint) was observed, as measured by patient reported home diaries. A separate post hoc analysis of data from the EASE LID trial was also announced, reporting the impact LID has on activities of daily living (ADLs) of PD patients as well as the favorable effects of ADS-5102 on these ADLs.

SPS Commerce Inc. (NASDAQ: SPSC) 5.6% HIGHER; will replace Northwestern in the S&P SmallCap 600.

Adobe Systems (NASDAQ: ADBE) 5.5% HIGHER; reported Q3 EPS of $0.75, $0.03 better than the analyst estimate of $0.72. Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.45 billion. Adobe Systems sees Q4 adjusted EPS of $0.83 - $0.89 and revenue of $1.55 - $1.60 billion, versus estimates calling for EPS of $0.78 and revenue of $1.58 billion. The company sees $5.80 - $5.85 billion, with estimates at $5.81 billion. Adobe also sees FY16 adjusted EPS of $2.94 - $3.00, versus the consensus at $2.87.

ENSCO International Plc (NYSE: ESV) 5% HIGHER; Goldman Sachs upgraded from Neutral to Buy

Skechers USA (NYSE: SKX) 4.7% LOWER; Morgan Stanley downgraded from Overweight to Equalweight with a price target of $25.00 (from $41.00)

Aerie Pharmaceuticals, Inc. (NASDAQ: AERI) 4.7% LOWER; TheStreet's Adam Feuerstein made cautious comments.

Airgain (NASDAQ: AIRG) 4.2% HIGHER; reported Q2 EPS of $0.15, $0.16 better than the analyst estimate of ($0.01). Revenue for the quarter came in at $9.9 million versus the consensus estimate of $9.65 million.

Sarepta Therapeutics, Inc. (NASDAQ: SRPT) 4% HIGHER; announced that the Patent Trial and Appeal Board (PTAB) of the United States Patent and Trademark Office (USPTO) has issued two favorable decisions for Sarepta in the composition of matter patent interferences for exon 51 (Interference No. 106,008) and exon 53 (Interference No. 106,007). These decisions, subject to appeal, finally refused all of BioMarins claims in the exon 51 and exon 53 composition of matter interferences that, if granted, could have formed a basis for a claim of infringement against eteplirsen and SRP-4053. The PTAB decision for exon 53 allows BioMarin to obtain a narrow composition of matter claim, however, SRP-4053 does not infringe this claim. The PTAB ended the exon 51 interference in our favor based on a statute of limitations bar.

Nu Skin Enterprises, Inc. (NYSE: NUS) 3.6% HIGHER; has reached a resolution with the U.S. Securities and Exchange Commission, which fully resolves the Company's previously disclosed SEC investigation in its entirety. Pursuant to the settlement, the SEC found that the Company's books and records and internal controls related to a charitable contribution in China in 2013 were insufficient, and the Company agreed to pay $765,688 to the SEC. In agreeing to the settlement, the Company neither admitted nor denied the SEC's findings.

Barclays (NYSE: BCS) 3.2% HIGHER; HSBC upgraded from Hold to Buy.

FedEx (NYSE: FDX) 2.7% HIGHER; reported Q1 EPS of $2.90, $0.09 better than the analyst estimate of $2.81. Revenue for the quarter came in at $14.7 billion versus the consensus estimate of $14.61 billion.

Fox Factory Holding Corp. (NASDAQ: FOXF) 2.5% HIGHER; will replace NuVasive in the S&P SmallCap 600.

KB Home (NYSE: KBH) 2.4% HIGHER; reported Q3 EPS of $0.42, $0.03 better than the analyst estimate of $0.39. Revenue for the quarter came in at $913.3 million versus the consensus estimate of $944.56 million.

Microsoft (Nasdaq: MSFT) 1.1% HIGHER; announced that its board of directors declared a quarterly dividend of $0.39 per share, reflecting a 3 cent or 8 percent increase over the previous quarter's dividend. The dividend is payable December 8, 2016 to shareholders of record on November 17, 2016. The ex-dividend date will be November 15, 2016. The board of directors also approved a new share repurchase program authorizing up to $40 billion in share repurchase

The Cooper Companies Inc. (NYSE: COO) 0.9% HIGHER; will replace Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) in the S&P 500

CommScope Holding Company, Inc. (NASDAQ: COMM) 0.9% LOWER; has announced the sale of 10 million shares of its common stock on an underwritten basis by an affiliate of The Carlyle Group. In addition, the underwriter will have an option to purchase up to 1,500,000 additional shares from Carlyle. CommScope will not receive any of the proceeds from the offering of shares by Carlyle. Closing of the offering is expected to occur on or about September 26, 2016, subject to customary closing conditions.



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Credit Suisse, Stifel, Goldman Sachs, Morgan Stanley, Jefferies & Co, Standard & Poor's, The Carlyle Group, Barclays, HSBC, CommScope Takeover, Pre-Open Losers, Pre-Open Winners, Definitive Agreement, Pre Market Movers, Adam Feuerstein

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