Pre-Open Stock Movers 04/04: (REPH) (PTN) (TST) Higher; (AVEO) (NSPR) (TSLA) Lower (more...)

April 4, 2019 9:24 AM EDT
Get Alerts AVEO Hot Sheet
Price: $6.77 -9.13%

Overall Analyst Rating:
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Today's Pre-Open Movers

AVEO Pharmaceuticals, Inc. (Nasdaq: AVEO) 30.5% LOWER; announced the pricing of its previously announced underwritten public offering of 21,739,131 shares of common stock and short-term warrants to purchase up to 21,739,131 shares of common stock at a price to the public of $1.15 per share and accompanying warrant. The Company expects to receive gross proceeds of approximately $25 million from the offering. The offering is expected to close on or about April 8, 2019, subject to customary closing conditions.

InspireMD, Inc. (NYSE American: NSPR) 28.6% LOWER; intends to offer and sell shares of its common stock in an underwritten public offering. InspireMD also expects to grant the underwriter a 30-day option to purchase additional shares of its common stock. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

Recro Pharma, Inc. (Nasdaq: REPH) 21.6% HIGHER; announced an initiative that will reduce the operating expenses of its Acute Care Segment, including a reduction in staff of approximately 50 employees. Some Acute Care Segment employees engaged in efforts to select a partner for and in obtaining FDA approval of (IV) meloxicam were retained. This initiative is expected to significantly lower operating expenses following receipt of a second Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) Office of Drug Evaluation II regarding its New Drug Application (NDA). The headcount reduction will not affect Recro Pharmas CDMO Segment, which continues its strong performance, providing positive cash flow.

Pluristem Therapeutics Inc. (Nasdaq: PSTI) 12.9% LOWER; intends to offer and sell shares of its common stock and warrants in an underwritten public offering and shares of its common stock in a concurrent registered direct offering. All of the shares and warrants in the underwritten public offering, and the shares in the concurrent registered direct offering, are to be sold by Pluristem. Pluristem intends to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock and/or warrants offered in the public offering at the public offering price, less the underwriting discounts and commissions.

Tesla (NASDAQ: TSLA) 10.6% LOWER; said in the first quarter, they produced approximately 77,100 total vehicles, consisting of 62,950 Model 3 and 14,150 Model S and X. Deliveries were approximately 63,000 vehicles, which was 110% more than the same quarter last year, but 31% less than last quarter. This included approximately 50,900 Model 3 and 12,100 Model S and X. Q1 Consensus deliveries were 74,930. Consensus Model 3 deliveries was 54,590.

Resources Connection (NASDAQ: RECN) 9.3% LOWER; reported Q3 EPS of $0.20, $0.01 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $179.5 million versus the consensus estimate of $184.2 million. Company announces appointment of Tim Brackney as President and Chief Operating Officer.

Sangamo Therapeutics, Inc. (Nasdaq: SGMO) 7.5% LOWER; announced that it has commenced an underwritten public offering of shares of its common stock.

Palatin Technologies, Inc. (NYSE: PTN) 6.9% HIGHER; announced positive results of a micro-dose study of radiolabeled PL-8177 using an oral, delayed-release, polymer formulation. The study met all primary and secondary endpoints. PL-8177 is a patented melanocortin receptor 1 agonist with potential application in treatment of ulcerative colitis and other inflammatory bowel diseases.

Abeona Therapeutics Inc. (Nasdaq: ABEO) 4.5% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation to ABO-101, the Companys novel one-time gene therapy for Sanfilippo syndrome type B (MPS IIIB). ABO-101 is designed to deliver a functional copy of the NAGLU gene to the central nervous system and peripheral tissues. Abeona is enrolling eligible patients with MPS IIIB at sites in the U.S. and Spain and expects to activate additional sites globally this year to accelerate enrollment. Information about the study is available at AbeonaTrials.com and ClinicalTrials.gov (NCT03315182).

TheStreet, Inc. (NASDAQ: TST) 4% HIGHER; declared a special dividend of $1.77 per share. The dividend will be payable on April 22, 2019, to stockholders of record on April 15, 2019, with an ex-dividend date of April 23, 2019. The annual yield on the dividend is 77 percent. In connection with the distribution, the Board of Directors has approved a 1-for-10 reverse stock split of TheStreet's common stock.

Micron Technology (NASDAQ: MU) 3.5% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $32.00.

Carbon Black Inc (NASDAQ: CBLK) 3.1% HIGHER; Baird initiates coverage with a Outperform rating and a price target of $20.00.

Red Robin Gourmet Burgers, Inc., (NASDAQ: RRGB) 2.9% LOWER; announced that following discussions with the Board of Directors, Denny Marie Post has chosen to retire as President and CEO on April 3, 2019. The Board of Directors has formed a search committee to identify her successor and also appointed Pattye Moore, Board Chair, as Interim CEO.

NIO (NYSE: NIO) 2.6% HIGHER; Citi upgraded from Neutral to Buy with a price target of $6.80 (from $7.20)

Landec (NASDAQ: LNDC) 2.6% LOWER; reported Q3 EPS of $0.04, $0.01 better than the analyst estimate of $0.03. Revenue for the quarter came in at $155.7 million versus the consensus estimate of $156.47 million. Landec sees Q4 2019 EPS of $0.12-$0.15, versus the consensus of $0.22. Landec sees Q4 2019 revenue of $150-153 million, versus the consensus of $154 million. Landec sees FY2019 EPS of $0.15-$0.18, versus the consensus of $0.23.
Brighthouse Financial, Inc. (NASDAQ: BHF) 2.2% LOWER; Citi downgraded from Neutral to Sell with a price target of $35.00 (from $39.00).
Live Nation Entertainment (NYSE: LYV) 1.8% LOWER; Evercore ISI downgraded from Outperform to In Line.

    Roku Inc. (NASDAQ: ROKU) 1.8% LOWER; Guggenheim downgraded from Buy to Neutral with a price target of $72.00 (from $77.00).

    Endologix (ELGX) 1.4% HIGHER; Sees Flurry of Insider Buys

    Constellation Brands, Inc. (NYSE: STZ) 1.2% LOWER; signed an agreement with E. & J. Gallo Winery to divest approximately 30 brands from its wine and spirits portfolio principally priced at $11 retail and below, and related facilities located in California, New York and Washington for $1.7 billion, subject to closing adjustments. The transaction is also subject to the satisfaction of certain closing conditions, including the receipt of regulatory approval, and is expected to close at the end of the company's first quarter of fiscal 2020.



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