After-Hours Stock Movers 03/09: (MNOV) (OM) (NARI) Higher; (AVID) (CLNE) (XM) Lower (more...)

March 9, 2021 5:46 PM EST

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Today's After-Hours Stock Movers:

MediciNova, Inc. (NASDAQ: MNOV) 103% HIGHER; announced it has partnered with the Biomedical Advanced Research and Development Authority (BARDA), part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services, to repurpose MN-166 (ibudilast) as a potential medical countermeasure (MCM) against chlorine gas-induced lung damage such as acute respiratory distress syndrome (ARDS) and acute lung injury (ALI). Under the Division of Research, Innovation, and Ventures (DRIVe) Repurposing Drugs in Response to Chemical Threats (ReDIRECT) program, BARDA will provide funding for proof-of-concept studies of MN-166 in preclinical models of chlorine gas-induced acute lung injury. MN-166 is the first compound to receive BARDAs development support through the DRIVe ReDIRECT program.

Outset Medical Inc. (NASDAQ: OM) 12.5% HIGHER; reported Q4 EPS of ($0.60), $0.06 better than the analyst estimate of ($0.66). Revenue for the quarter came in at $17.2 million versus the consensus estimate of $13.75 million. Outset Medical Inc. sees Q1 2021 revenue of $21-22 million, versus the consensus of $14.8 million. Outset Medical Inc. sees FY2021 revenue of $89-94 million, versus the consensus of $71.3 million.

Inari Medical, Inc. (NASDAQ: NARI) 11.3% HIGHER; reported Q4 EPS of $0.13, $0.12 better than the analyst estimate of $0.01. Revenue for the quarter came in at $48.6 million versus the consensus estimate of $41.08 million. Inari Medical, Inc. sees Q1 2021 revenue of $54-56 million, versus the consensus of $41.68 million. Inari Medical, Inc. sees FY2021 revenue of $225-235 million, versus the consensus of $181.5 million.

AvidĀ® (NASDAQ: AVID) 8.2% LOWER; Total revenue increased 15.3% sequentially in the fourth quarter, as many of Avids end markets showed continued signs of recovery from the COVID-19 pandemic, while still lower year-over-year. During the fourth quarter, the Recurring Revenue components of the Companys business remained strong with reported subscription revenue of $24.5 million, up 54.9% year-over-year, reflecting strong enterprise subscription sales in the quarter. At the end of 2020, the Company had $231.3 million in Revenue Backlog expected to be recognized during the next 12 months, up 16.0% from the end of 2019. Also, in the fourth quarter, improved profitability and strong seasonal contribution from working capital resulted in Free Cash Flow of $30.6 million for the quarter, the highest quarterly amount since 2007.

VolitionRX (NYSE: VNRX) 6.7% HIGHER; Cantor Fitzgerald initiates coverage with an Overweight rating and a price target of $8.00.

ABM Industries (NYSE: ABM) 5.6% HIGHER; reported Q1 EPS of $1.01, $0.42 better than the analyst estimate of $0.59. Revenue for the quarter came in at $1.49 billion versus the consensus estimate of $1.48 billion.

AMC (NYSE: AMC) 5.3% HIGHER; adds to intra-day gains as meme stock run again.

Clean Energy Fuels (NASDAQ: CLNE) 3.4% LOWER; reported Q4 EPS of $0.00, in-line with the analyst estimate of $0.00. Revenue for the quarter came in at $74.96 million versus the consensus estimate of $71.3 million.

Qualtrics International (NASDAQ: XM) 1% LOWER; reported Q4 EPS of ($0.02), versus ($0.05) reported last year. Revenue for the quarter came in at $213.6 million, versus $172.81 million reported last year. Qualtrics International sees Q1 2021 EPS of ($0.02)-($0.04). Qualtrics International sees Q1 2021 revenue of $226-228 million. Qualtrics International sees FY2021 EPS of ($0.16)-($0.18). Qualtrics International sees FY2021 revenue of $950-954 million.



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