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Pre-Open Stock Movers 06/27: Chewy Gains on Upgrade; Spirit Airlines Falls on Deal Update

June 27, 2022 9:30 AM EDT

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Epizyme (Nasdaq: EPZM) 65% HIGHER; Ipsen and Epizyme entered into a definitive merger agreement under which Ipsen will acquire Epizyme. The transaction was unanimously approved by both Ipsen and Epizyme Boards of Directors and is anticipated to close by the end of the third quarter of 2022, subject to the satisfaction of all closing conditions. Epizyme is a fully integrated, commercial-stage biopharmaceutical company developing and delivering transformative therapies against novel epigenetic targets for cancer patients.

Axsome Therapeutics, Inc. (NASDAQ: AXSM) 45% HIGHER; received from the U.S. Food and Drug Administration proposed labeling for the Company’s AXS-05 product candidate with respect to its New Drug Application (the “NDA”) for AXS-05 for the treatment of major depressive disorder. The Company is reviewing the proposed labeling and will reply to the FDA to secure final labeling agreement.

Spirit Airlines, Inc. (NYSE: SAVE) 6% LOWER; announced the signing of a second amendment (the Amended Agreement) to its previously announced merger agreement with Frontier Group Holdings, Inc. (Frontier) (NASDAQ: ULCC),

Coinbase Global Inc. (NASDAQ: COIN) 5% LOWER; Goldman Sachs downgraded from Neutral to Sell with a price target of $45.00 (from $70.00).

GitLab Inc (NASDAQ: GTLB) 5% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $80.00 (from $69.00).

Chewy Inc. (NYSE: CHWY) 4% HIGHER; Needham & Company upgraded from Hold to Buy with a price target of $55.00.

Informatica (NYSE: INFA) 4% LOWER; Goldman Sachs downgraded from Buy to Neutral with a price target of $28.00 (from $40.00).

Robinhood Markets (NASDAQ: HOOD) 3% HIGHER; Goldman Sachs upgraded from Sell to Neutral with a price target of $9.50 (from $11.50).

Atlassian Corporation (NASDAQ: TEAM) 3% HIGHER; Goldman Sachs upgraded from Neutral to Buy with a price target of $300.00 (from $279.00).

AutoZone (NYSE: AZO) 2.2% HIGHER; from Neutral to Buy with a price target of $2,296.00 (from $1,969.00).

Etsy (NASDAQ: ETSY) 2% LOWER; Needham & Company downgraded from Buy to Hold.



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