Pre-Open Movers 04/06: (LFIN) (GCAP) (XLNX) Higher; (NLNK) (INCY) (MNKD) Lower (more...)

April 6, 2018 9:27 AM EDT
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Price: $0.89 --0%

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Today's Pre-Open Movers:

NewLink Genetics (NASDAQ: NLNK) 38.1% LOWER; lower on Incyte news

Longfin (NASDAQ: LFIN) 23% HIGHER; sees continued momentum

Incyte Corporation (Nasdaq: INCY) 21.1% LOWER; Incyte and Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that an external Data Monitoring Committee (eDMC) review of the pivotal Phase 3 ECHO-301/KEYNOTE-252 study results evaluating Incytes epacadostat in combination with Mercks KEYTRUDA® in patients with unresectable or metastatic melanoma determined that the study did not meet the primary endpoint of improving progression-free survival in the overall population compared to KEYTRUDA monotherapy. The studys second primary endpoint of overall survival also is not expected to reach statistical significance. Based on these results, and at the recommendation of the eDMC, the study will be stopped. The safety profile observed in ECHO-301/KEYNOTE-252 was consistent with that observed in previously reported studies of epacadostat in combination with KEYTRUDA.

MannKind Corporation (NASDAQ: MNKD) 19.8% LOWER; announced the pricing of a registered direct offering of 14,000,000 shares of common stock and warrants to purchase up to an aggregate of 14,000,000 shares of common stock to select healthcare dedicated institutional investors. Each share of common stock is being sold together with a warrant to purchase one share of common stock for a combined purchase price of $2.00, resulting in gross proceeds of $28.0 million. The warrants will be exercisable at a price of $2.38 per share beginning six months following the date of issuance and will expire six months thereafter. The shares of common stock and the warrants will be immediately separable and will be issued separately. The offering is expected to close on or about April 10, 2018, subject to customary closing conditions.

Northern Oil and Gas, Inc. (NYSE: NOG) 13.9% LOWER; announced the pricing of a public offering of 58,666,667 shares of its common stock, par value $0.001 per share, at $1.50 per share. The offering is expected to close on or about April 10, 2018, subject to customary closing conditions. The underwriters have been granted a 30-day option to purchase up to an additional 8,800,000 shares of Common Stock from the Company.

Codexis, Inc. (Nasdaq: CDXS) 7% LOWER; announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares to be sold in the offering will be offered by Codexis.

Sunrun (NASDAQ: RUN) 6.9% LOWER; BofA/Merrill Lynch downgraded from Buy to Underperform with a price target of $10.00 (from $9.00).

GAIN Capital Holdings, Inc. (NYSE: GCAP) 5.6% HIGHER; announced the continued rollout of the Company's cryptocurrency offering, with the recent launch of Ethereum, Litecoin, Ripple and Bitcoin Cash in the U.K., Europe, Australia and Singapore on the Company's FOREX.com and City Index services. GAIN has also expanded its Bitcoin offering, allowing customers to trade Bitcoin directly against the Euro (BTC/EUR), British pound (BTC/GBP) and Australian dollar (BTC/AUD), in addition to the U.S. dollar.

Oragenics (NASDAQ: OGEN) 5.3% HIGHER; Adds to intra-day gains.

CRISPR Therapeutics (NASDAQ: CRSP) 4.1% HIGHER; Goldman Sachs initiates coverage with a Buy rating and a price target of $86.00.

Palatin Technologies (NYSE: PTN) 3.3% HIGHER; H.C. Wainwright initiates coverage with a Buy rating and a price target of $5.00.

Xilinx (NASDAQ: XLNX) 3.1% LOWER; JPMorgan downgraded from Neutral to Underweight with a price target of $68.00 (from $73.00).

Ethan Allen Interiors Inc. (NYSE: ETH) 3% LOWER; The Company expects consolidated net sales for the quarter of $181.3 million, a slight increase over the prior year period. Wholesale shipments increased by 7.2% to $118.8 million. Retail division shipments were impacted by the timing of receipt of products, and declined 3.6% to $136.9 million. Gross margins are expected to be lower due to a higher mix of wholesale to retail and increases in raw material costs especially in the upholstery manufacturing; operating expenses are expected to be higher due to an increase in marketing expenditures. The Company has also implemented a price increase as of April 1, 2018. (Street sees Q3 sales of $188M)

PriceSmart (NASDAQ: PSMT) 2.8% HIGHER; reported Q2 EPS of $0.47, does not compare to the analyst estimate of $0.74. Revenue for the quarter came in at $839.6 million versus the consensus estimate of $836.02 million.

ORBCOMM Inc. (NASDAQ: ORBC) 2.6% LOWER; announced today that it has commenced an underwritten public offering of 3,000,000 shares of its common stock. ORBCOMM has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares.

Veru, Inc. (NASDAQ: VERU) 2.3% HIGHER; Brookline Capital Markets initiates coverage with a Buy rating and a price target of $10.00.

WD-40 Co. (NASDAQ: WDFC) 2% LOWER; reported Q2 EPS of $1.05, $0.10 better than the analyst estimate of $0.95. Revenue for the quarter came in at $101.3 million versus the consensus estimate of $102.49 million.

Tesla (NASDAQ: TSLA) 1.4% LOWER; Fire at Plant Temporarily Suspended Production Tuesday Morning - CNBC

Universal Display (NASDAQ: OLED) 1.1% HIGHER; Oppenheimer upgraded from Perform to Outperform with a price target of $120.00.



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