Pre-Open Movers 06/26: (STOR) (PTLA) (P) Higher; (NEOT) (MTNB) (GRUB) Lower (more...)
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Today's Pre-Open Movers
Neothetics, Inc. (NASDAQ: NEOT) 65.7% LOWER; announced top-line safety and efficacy results from its Phase 2 proof-of-concept trial, LIPO-202-CL-31, for the reduction of submental subcutaneous fat. LIPO-202 did not demonstrate improvement on any efficacy measurements or separation from placebo. LIPO-202 continued to show a benign safety profile.
Matinas BioPharma Holdings, Inc. (NYSE: MTNB) 44.4% LOWER; reported topline data from its Phase 2 safety, tolerability and efficacy study of MAT2203 in women with moderate to severe vulvovaginal candidiasis (VVC). The Phase 2 study achieved its primary endpoint in demonstrating MAT2203 is safe and well tolerated. However, both the clinical and mycological responses for MAT2203 did not meet the Company's expectations and were below that of fluconazole, the guideline recommended therapy for the treatment of VVC.
STORE Capital Corporation (NYSE: STOR) 9.1% HIGHER; announced that Berkshire Hathaway has invested $377 million in the company, representing 9.8% of total shares outstanding. In the transaction, STORE Capital issued 18.6 million shares of company stock in a private placement to a wholly owned subsidiary of Berkshire Hathaway at a price of $20.25 per share.
AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG) 7.4% LOWER; today announced that the U.S. Food and Drug Administration (FDA) accepted the supplemental new drug application (sNDA) for the Makena® subcutaneous auto-injector, a drug-device combination product. The agency has established a Prescription Drug User Fee Act (PDUFA) target action date of February 14, 2018. The FDA acknowledged that it had previously communicated a 6-month review to the company for this sNDA, but it has now determined that the filing is subject to a standard 10-month review.
GrubHub Inc. (NYSE: GRUB) 4.6% LOWER; Morgan Stanley downgraded from Overweight to Equalweight with a price target of $43.00 (from $47.00).
Portola Pharmaceuticals (NASDAQ: PTLA) 4.6% HIGHER; multiple PT hikes following last week's FDA approval.
Stratasys Inc. (NASDAQ: SSYS) 4.2% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $20.00
Pandora (NYSE: P) 3.3% HIGHER; reports from Re/Code that CEO Tim Westergren plans to step down. Upgraded to Sector Weight at Pacific Crest, added to Alpha Generator list at FBR.
Canada Goose Holdings Inc. (NYSE: GOOS) 3.1% LOWER; announced that it has commenced a proposed public secondary offering of 12,500,000 subordinate voting shares.
Iridium Communications Inc. (NASDAQ: IRDM) 2.3% HIGHER; announced today the successful second launch of its next-generation network, Iridium NEXT.
Conatus Pharmaceuticals Inc. (NASDAQ: CNAT) 2% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation to Conatus drug candidate IDN-7314 for the treatment of primary sclerosing cholangitis (PSC), a disease affecting bile ducts in the liver which can lead to cirrhosis and liver failure. The FDA's Orphan Drug Designation program is intended to encourage the development of drugs and biologics that may provide benefit to patients suffering from rare diseases or conditions.
Coach (NYSE: COH) 1.6% HIGHER; Buckingham Research upgraded from Neutral to Buy with a price target of $58.00.
Costco Wholesale (NASDAQ: COST) 1% HIGHER; Raymond James upgraded from Market Perform to Outperform.
Intuit (NASDAQ: INTU) 1% LOWER; Citi downgraded from Buy to Neutral with a price target of $141.00 (from $148.00).
Regeneron Pharma (NASDAQ: REGN) 1% LOWER; Bernstein downgraded from Outperform to Market Perform with a price target of $480.00 (from $410.00).
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