Unusual 11 Mid-Day Movers 10/5: (CPRX) (CRBP) (UEPS) Higher; (IMMU) (AZZ) (CTSO) Lower

October 5, 2016 12:53 PM EDT

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Catalyst Pharmaceutical Partners (Nasdaq: CPRX) 38.8% HIGHER; Piper Jaffray upgraded Catalyst Pharmaceutical Partners from Neutral to Overweight and moved its price target from $1 to $4.

Corbus Pharmaceuticals (Nasdaq: CRBP) 30.4% HIGHER; Cantor Fitzgerald initiates coverage on Corbus Pharmaceuticals with a Buy rating and a price target of $17.

Immunomedics, Inc., (Nasdaq: IMMU) 22.9% LOWER; announced that it has priced an underwritten offering of 10,000,000 shares of common stock and warrants to purchase up to 10,000,000 shares of common stock with anticipated gross proceeds of $30 million. Each share of common stock and accompanying warrant will be priced at $3.00. The warrants will be exercisable six months following the date of issuance, will expire on the second anniversary of the date of issuance and have an exercise price of $3.75.

Net 1 UEPS Technologies, Inc. (Nasdaq: UEPS) 18.8% HIGHER; announced that it has entered into a share subscription agreement with Blue Label Telecoms Limited ("Blue Label") (JSE: BLU) to subscribe for approximately 117.9 million shares in Blue Label, at a subscription price of ZAR16.96 per share

Bristow Group (NYSE: BRS) 13.8% HIGHER; announced the appointment of William "Bill" Collins to senior vice president global operations, responsible for overseeing safe and reliable helicopter and airplane operations across Bristow's business. In his new role, Collins will focus on improving operational safety, reliability and efficiency for clients, reporting directly to Bristow Group President and Chief Executive Officer Jonathan Baliff.

Acacia Communications (Nasdaq: ACIA) 12.9% HIGHER; announced strong Q3 results on Tuesday night. For more color, click here.

Regulus Therapeutics Inc. (Nasdaq: RGLS) 11.4% HIGHER; announced the appointment of Timothy M. Wright, M.D. as Chief Research and Development (R&D) Officer reporting to Paul Grint, M.D., President and CEO. Dr. Wright will oversee Regulus' research, drug discovery, clinical development, and regulatory affairs functions.

AZZ, Inc. (NYSE: AZZ) 11.3% LOWER; reported Q2 GAAP EPS of $0.38, versus $0.67 reported last year. Revenue for the quarter came in at $195 million, versus $214.2 million reported last year. Adjusted EPS was $0.55, versus $0.71 expected.

CytoSorbents Corporation (Nasdaq: CTSO) 11.1% LOWER; announced positive top-line safety data from its recently completed randomized, controlled REFRESH I cardiac surgery feasibility and safety trial. Following a detailed review of all reported adverse events in a total of 46 enrolled patients, the independent Data Safety Monitoring Board (DSMB) found no safety concerns related to the CytoSorb device, achieving the primary safety endpoint of the trial and fulfilling a key requisite to move forward with a larger, definitive pivotal study.

22nd Century Group (NYSE: XXII) 10.4% LOWER; lower following a negative report from TheStreetSweeper.

Collegium Pharmaceutical, Inc. (Nasdaq: COLL) 9.1% LOWER; announced that it has submitted a Supplemental New Drug Application (sNDA) to the U.S. Food & Drug Administration (FDA) to enhance the label for Xtampza® ER (oxycodone extended-release), an abuse-deterrent, extended-release opioid, for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.

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