Unusual 11 Midday Movers 01/30: (GTXI) (ONCY) (PBY) Higher; (CTIC) (EMKR) (PMC) Lower
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GTX Inc. (NASDAQ: GTXI) 52.3% HIGHER; Citi more than doubled its price target on GTX from $8 to $19 citing a high likelihood of Phase 3 success of ostarine. The firm said ostarine could attract interest from biopharma companies.
Oncolytics Biotech (Nasdaq: ONCY) 30.4% HIGHER; the biotech sector has been extremely hot lately. Upside in GTXI may be driving Ocolytics this afternoon.
Pep Boys (NYSE: PBY) 23.8% HIGHER; to be acquired by Gores Group for $15/share in cash.
Thomas & Betts Corporation (NYSE: TNB) 22.6% HIGHER; ABB (NYSE: ABB) and T&B announced that both companies’ boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for $72 per share in cash or approximately $3.9 billion.
Amylin (Nasdaq: AMLN) 18.6% HIGHER; shares higher this week following news late Friday Amylin and Alkermes plc (Nasdaq: ALKS) announced the U.S. FDA has approved BYDUREON™ (exenatide extended-release for injectable suspension) – the first once-weekly treatment for type 2 diabetes.
Cell Therapeutics, Inc. (Nasdaq: CTIC) 17.7% LOWER; has voluntarily withdrawn its New Drug Application for Pixuvri (pixantrone) for the treatment of relapsed or refractory aggressive non-Hodgkin's lymphoma in patients who failed two or more lines of prior therapy.
Renren (Nasdaq: RENN) 14.4% HIGHER; social and online media group getting a lot of attention this week ahead of the expected IPO filing from Facebook on Wednesday. The sector was on the move Friday following the news. Shares of Renren closed the last session up 26 percent.
PharMerica Corporation (NYSE: PMC) 12.1% LOWER; today commented on the decision by the FTC to sue to block Omnicare’s (NYSE: OCR) unsolicited offer to acquire PharMerica. “We are pleased the FTC has made a prompt decision to resolve the competitive issues surrounding Omnicare’s attempted hostile takeover of PharMerica Corporation,” said Gregory S. Weishar, PharMerica Chief Executive Officer. “As we have said from the beginning, we believed antitrust clearance would be difficult to achieve and, with that belief now confirmed, we hope that Omnicare will end its hostile pursuit of PharMerica. "We believe PharMerica is well positioned to deliver outstanding value for customers and stockholders as we pursue our strategic initiatives and head into the accelerating wave of generic drug conversions in 2012 and beyond.”
EMCORE Corporation (Nasdaq: EMKR) 11.7% LOWER; announced today that its Board of Directors has approved a one for four reverse stock split of EMCORE common stock. The Reverse Stock Split was approved by EMCORE's shareholders at its June 14, 2011 annual meeting. The Reverse Stock Split will become effective following the filing of an amendment to EMCORE's corporate charter. EMCORE has set February 15, 2012, as the record date for the Reverse Stock Split and anticipates that EMCORE common stock will begin trading on the NASDAQ Global Market on a split adjusted basis at the opening of trading on February 16, 2012.
YPF (NYSE: YPF) 11.3% LOWER; holding below the 200-day SMA today after the stock price pushed under this technical level on Thursday of last week. The stock finished about 2 percent lower on Friday.
Oncolytics Biotech (Nasdaq: ONCY) 30.4% HIGHER; the biotech sector has been extremely hot lately. Upside in GTXI may be driving Ocolytics this afternoon.
Pep Boys (NYSE: PBY) 23.8% HIGHER; to be acquired by Gores Group for $15/share in cash.
Thomas & Betts Corporation (NYSE: TNB) 22.6% HIGHER; ABB (NYSE: ABB) and T&B announced that both companies’ boards of directors have agreed to a transaction in which ABB will acquire Thomas & Betts for $72 per share in cash or approximately $3.9 billion.
Amylin (Nasdaq: AMLN) 18.6% HIGHER; shares higher this week following news late Friday Amylin and Alkermes plc (Nasdaq: ALKS) announced the U.S. FDA has approved BYDUREON™ (exenatide extended-release for injectable suspension) – the first once-weekly treatment for type 2 diabetes.
Cell Therapeutics, Inc. (Nasdaq: CTIC) 17.7% LOWER; has voluntarily withdrawn its New Drug Application for Pixuvri (pixantrone) for the treatment of relapsed or refractory aggressive non-Hodgkin's lymphoma in patients who failed two or more lines of prior therapy.
Renren (Nasdaq: RENN) 14.4% HIGHER; social and online media group getting a lot of attention this week ahead of the expected IPO filing from Facebook on Wednesday. The sector was on the move Friday following the news. Shares of Renren closed the last session up 26 percent.
PharMerica Corporation (NYSE: PMC) 12.1% LOWER; today commented on the decision by the FTC to sue to block Omnicare’s (NYSE: OCR) unsolicited offer to acquire PharMerica. “We are pleased the FTC has made a prompt decision to resolve the competitive issues surrounding Omnicare’s attempted hostile takeover of PharMerica Corporation,” said Gregory S. Weishar, PharMerica Chief Executive Officer. “As we have said from the beginning, we believed antitrust clearance would be difficult to achieve and, with that belief now confirmed, we hope that Omnicare will end its hostile pursuit of PharMerica. "We believe PharMerica is well positioned to deliver outstanding value for customers and stockholders as we pursue our strategic initiatives and head into the accelerating wave of generic drug conversions in 2012 and beyond.”
EMCORE Corporation (Nasdaq: EMKR) 11.7% LOWER; announced today that its Board of Directors has approved a one for four reverse stock split of EMCORE common stock. The Reverse Stock Split was approved by EMCORE's shareholders at its June 14, 2011 annual meeting. The Reverse Stock Split will become effective following the filing of an amendment to EMCORE's corporate charter. EMCORE has set February 15, 2012, as the record date for the Reverse Stock Split and anticipates that EMCORE common stock will begin trading on the NASDAQ Global Market on a split adjusted basis at the opening of trading on February 16, 2012.
YPF (NYSE: YPF) 11.3% LOWER; holding below the 200-day SMA today after the stock price pushed under this technical level on Thursday of last week. The stock finished about 2 percent lower on Friday.
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