Pre-Open Stock Movers 8/4: (PIKE) (TKMR) (LJPC) Higher; (INSM) (ZGNX) (HK) Lower (more...)

August 4, 2014 9:32 AM EDT Send to a Friend

Pike Corporation (NYSE: PIKE) 48.4% HIGHER; signed a definitive merger agreement under which investment firm Court Square Capital Partners in partnership with J. Eric Pike, the Company's Chairman and Chief Executive Officer, will acquire the Company in a transaction in which each of the Company's shareholders will receive $12.00 in cash, without interest and less any applicable withholding taxes, for each share of the Company's common stock they hold. The price represents a premium of approximately 50.8 percent over the Company's closing price on August 1, 2014, and a premium of approximately 39.6 percent over the 30day volume-weighted average closing prices leading up to that date.

Insmed (NASDAQ: INSM) 27% LOWER; announced that, following discussions with European regulatory authorities, it intends to file by the end of 2014 a Marketing Authorization Application (MAA) with the European Medicines Agency (EMA) for ARIKAYCE, or liposomal amikacin for inhalation, for the treatment of nontuberculous mycobacteria (NTM) lung infections in treatment refractory patients as well as for Pseudomonas aeruginosa lung infections in cystic fibrosis (CF) patients.

Tekmira Pharmaceuticals (NASDAQ: TKMR) 14% HIGHER; Sees continued gains on Ebola outbreak

NanoViricides, Inc. (NYSE: NNVC) 9.4% HIGHER; reports that it is restarting its drug development program to combat Ebola virus infections.

Zogenix, Inc. (Nasdaq: ZGNX) 7% LOWER; announced that Scott Shively has resigned as Chief Commercial Officer in order to pursue another opportunity. In the interim, Roger Hawley, the Company's Chief Executive Officer, will assume the duties and responsibilities of the Chief Commercial Officer and lead the continued launch and commercial activities.

La Jolla Pharma (NASDAQ: LJPC) 7% HIGHER; Jefferies initiates coverage with a Buy rating and a price target of $25.00.

Ligand Pharmaceuticals, Inc. (NASDAQ: LGND) 6.7% HIGHER; reported Q2 EPS of $0.24, $0.10 better than the analyst estimate of $0.14. Revenue for the quarter came in at $10.6 million versus the consensus estimate of $9.73 million. Ligand Pharmaceuticals, Inc. sees Q3 2014 EPS of $0.26-$0.29, versus the consensus of $0.4. Ligand Pharmaceuticals, Inc. sees Q3 2014 revenue of $13-14 million, versus the consensus of $16.6 million. Ligand Pharmaceuticals, Inc. sees FY2014 EPS of $1.50-$1.55, versus prior guidance of $1.4-$1.45 and the consensus of $1.44. Ligand Pharmaceuticals, Inc. sees FY2014 revenue of $64-66 million, versus prior guidance of $64-66 million and the consensus of $62.9 million.

Amgen (NASDAQ: AMGN) 3.5% HIGHER; The company and its subsidiary, Onyx Pharmaceuticals, Inc., announced that a planned interim analysis demonstrated that the Phase 3 clinical trial ASPIRE (CArfilzomib, Lenalidomide, and DexamethaSone versus Lenalidomide and Dexamethasone for the treatment of PatIents with Relapsed Multiple MyEloma) met its primary endpoint of progression-free survival (PFS). Patients treated with Kyprolis® (carfilzomib) for Injection in combination with Revlimid® (lenalidomide) and low-dose dexamethasone (KRd) lived significantly longer without their disease worsening (median 26.3 months) compared to patients treated with Revlimid and low-dose dexamethasone (Rd) (median 17.6 months) (HR=0.690, 95 percent CI, 0.570, 0.834, p<0.0001). While the data for overall survival, a secondary endpoint, are not yet mature, the analysis showed a trend in favor of KRd that did not reach statistical significance.

Halcon Resources (NYSE: HK) 4.4% LOWER; downgraded at Morgan Stanley

Himax Technologies (NASDAQ: HIMX) 3.4% HIGHER; Lake Street Capital Markets upgraded from Hold to Buy

Beazer Homes USA Inc. (NYSE: BZH) 2.4% HIGHER; insider buying, positive Barron's

Transocean Ltd. (NYSE: RIG) 2.3% LOWER; downgraded at Deustche Bank

US Steel (NYSE: X) 1.8% HIGHER; upgraded at Deutsche Bank and KeyBanc

Intercontinental Hotels Group plc (NYSE: IHG) 0.6% HIGHER; Marcato Capital hires advisor to review strategic alternatives.



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