Pre-Open 11/20: (ARAV) (I) (TGT) Higher (PDD) (URBN) (MUX) Lower (more...)

November 20, 2019 9:16 AM

Today's Pre-Open Movers

Aravive, Inc. (Nasdaq: ARAV) 214.9% HIGHER; announced new positive data from the ongoing Phase 1b portion of the Phase 1b/2 clinical trial of AVB-500 in platinum-resistant recurrent ovarian cancer patients. The data from the first 31 patients treated at the 10mg/kg dose are maturing and affirm earlier findings on the relationship between AVB-500 levels and anti-tumor response. In this data analysis, high serum drug levels of AVB-500 were strongly predictive of anti-tumor activity with statistically significant correlation to progression-free survival (PFS; p=0.0066). PFS is the primary endpoint for platinum-resistant ovarian cancer clinical trials.

Pinduoduo (NASDAQ: PDD) 22.4% LOWER; reported Q3 EPS of ($0.28), $0.20 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $1.05 billion versus the consensus estimate of $1.06 billion.

Intelsat S.A (NYSE: I) 16.3% HIGHER; Raymond James analyst Ric Prentiss upgraded from Market Perform to Outperform with a price target of $12.00.

Urban Outfitters (NASDAQ: URBN) 15.6% LOWER; reported Q3 EPS of $0.56, $0.01 worse than the analyst estimate of $0.57. Revenue for the quarter came in at $987 billion versus the consensus estimate of $1 billion. Comparable Retail segment net sales increased 3%

Fluent, Inc. (NASDAQ: FLNT) 14.1% HIGHER; announced today that its Board of Directors approved a stock repurchase program. The program authorizes the repurchase of up to $5 million of shares of the Company’s common stock.

McEwen Mining Inc. (NYSE: MUX) 13.3% LOWER; announced its intention to offer shares of its common stock and warrants to purchase its common stock in a registered underwritten public offering, subject to market and other conditions. McEwen Mining also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock and warrants sold in the public offering.

Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) 13.1% LOWER; announced that it is proposing to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. Checkpoint expects to grant the underwriters a 45‐day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering.

Exicure (NASDAQ: XCUR) 10.8% HIGHER; Guggenheim initiates coverage on with a Buy rating and a price target of $9.00.

BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) 10.6% HIGHER; Steven Cohen's Point72 Asset Management, L.P. disclosed a 6.1%, or 9,355,382 share, stake in the company. This is up 186.97% from the 3,260,000 shares held at the end of the latest quarter ending September 30, 2019.

Target (NYSE: TGT) 10% HIGHER; reported Q3 EPS of $1.36, $0.17 better than the analyst estimate of $1.19. Revenue for the quarter came in at $18.7 billion versus the consensus estimate of $18.49 billion. Third quarter comparable sales grew 4.5 percent, on top of 5.1 percent last year, meaning that comparable sales have risen nearly 10 percent over the last two years. Target sees FY2019 EPS of $6.25-$6.45, versus the consensus of $6.18.

Organogenesis Holdings Inc. (Nasdaq: ORGO) 7.3% LOWER; announced that it is offering to sell 9,000,000 shares of its Class A common stock in an underwritten public offering

Canopy Growth (WEED:CN) (NYSE: CGC) 5.7% HIGHER; BofA/Merrill Lynch upgraded from Neutral to Buy, PT Cdn$24.00.

Lowe's Cos. (NYSE: LOW) 5% HIGHER; reported Q3 EPS of $1.41, $0.06 better than the analyst estimate of $1.35. Revenue for the quarter came in at $17.4 billion versus the consensus estimate of $17.69 billion. Sales for the third quarter were $17.4 billion and consolidated comparable sales increased 2.2 percent. Comparable sales for the U.S. home improvement business increased 3.0 percent. Analysts had expected a 3.1 percent rise.

Scorpio Tankers Inc. (NYSE: STNG) 5% HIGHER; announced that the President of the Company, Robert Bugbee, has purchased call options on 200,000 common shares (or 2,000 call option contracts) of the Company with strike price of $32.00 and an expiration of January 2020 for the consideration of $450,000.

California Resources (NYSE: CRC) 4.8% HIGHER; Sees No Significant Impact to Output from California Review - Bloomberg

CRISPR Therapeutics (NASDAQ: CRSP) 4.8% LOWER; commencing an underwritten public offering of 4,250,000 common shares. In addition, the underwriters will have a 30-day option to purchase up to 637,500 additional common shares at the public offering price less the underwriting discount.

Amarin Corporation (NASDAQ: AMRN) 3.7% LOWER; Oppenheimer initiates coverage on with an Underperform rating and a price target of $7.00.

CytomX Therapeutics (NASDAQ: CTMX) 3.5% HIGHER; Guggenheim initiates coverage on with a Buy rating and a price target of $16.00.

New York Mortgage Trust, Inc. (NASDAQ: NYMT) 2.7% LOWER; announced today that it plans to make a public offering of 25,000,000 shares of its common stock. NYMT also expects to grant the underwriter an option to purchase up to an additional 3,750,000 shares of common stock. Morgan Stanley will serve as sole bookrunning manager for the offering.

Endo International plc (NASDAQ: ENDP) 2.7% HIGHER; announced today that the U.S. Food and Drug Administration (FDA) has accepted for review the original Biologics License Application (BLA) for collagenase clostridium histolyticum (CCH) for the treatment of cellulite in the buttocks. The Prescription Drug User Fee Act (PDUFA), or target action date for the BLA, has been set for July 6, 2020.

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