American depository shares of voxeljet AG (NYSE:VJET) were falling late Monday after the maker of large-format 3D printers and parts announced plans for an underwritten offering of ADS by the company as well as ADS now held by unidentified shareholders. VJET did not say how many shares it plans to offer nor did it disclose how many ADS the selling shareholder plans on offering. Underwriters participating in the deal will receive 30-day options to purchase an additional 15% of ADS to cover possible overallotments. VJET shares were down 0.4% at $24.35 each in late trading. The stock fell 2.8% during…
Author: Ryan Wallace
QUALCOMM, Inc. (NASDAQ:QCOM) on Monday introduced its next generation of high-end mobile processors to enhance video, imaging and graphics for smart phones and tablets. Shares rose a notch. The chipmaker said the Snapdragon 808 and 810 upgrades can deliver data at up to 300 megabits per second, double the maximum peak speed of 150 in its prior models, and that graphic security on the new chips offers 30% greater performance using 20% less power. In mid-day trade, QCOM was up 0.34% to $78.79. The stock hit a 52-week intraday high of $81.35 in the previous session. Analysts have a consensus…
On Apr 3, 2014, Zacks issued an updated research report on Sirius XM Holdings Inc. (NASDAQ:SIRI). The company continues to generate strong revenues, record EBITDA and higher ARPU growth mainly attributable to a robust telematics market in the U.S. Analysts have a consensus price target of $4.34 on Sirius XM Holdings (NASDAQ:SIRI) which indicates a 35% upside. The company last reported earnings on Feb 4th and posted an actual EPS of $0.01 against the $0.02 consensus estimate. TheStreet Quant Ratings rates Sky-mobi Ltd (ADR)(NASDAQ:MOBI) as a hold. The company’s strengths can be seen in multiple areas, such as its solid…
On Friday, JMP Securities reiterated their Market Outperform rating and $74 price target for Align Technology (NASDAQ:ALGN). In a morning note issued on April 4th, the firm noted: Yesterday after the close, Align Technology announced that it received notice that the International Trade Commission (ITC) affirmed the Administrative Law Judge’s (ALJ) Initial Determination that the ClearCorrect entities (ClearCorrect Operating based in Texas and ClearCorrect based in Pakistan) infringed five of the patents asserted by Align in its ITC investigation. The Commission ruled in Align’s favor with regard to those patents, issued cease-and-desist orders directed to the ClearCorrect entities, and terminated the…
Halozyme Therapeutics (NASDAQ:HALO) is lower in the pre-market session after the biopharmaceutical company said Friday that it is temporarily halting patient enrollment and dosing of PEGPH20 in an ongoing Phase 2 trial (Study 202) evaluating PEGPH20 in patients with pancreatic cancer. Shares are down 25.54% at $8.63, with a 52-week range of $5.03 – $18.18. The halt comes as a result of a recommendation the company received Thursday from an independent Data Monitoring Committee (DMC) which is assessing clinical data that indicates a possible difference in the thromboembolic event rate between the group of patients treated with PEGPH20, nab-paclitaxel and…
Exact Sciences Corp. (NASDAQ:EXAS) shares are up more than 4% pre-bell despite news the company priced the sale of 10 million common shares at a slight discount to Thursday’s closing price. The company is offering the stock at $12.75 each, compared with Thursday’s close of $12.92. The net proceeds are expected to be $119.7 million. Underwriters have a 30-day option to purchase up to an aggregate of 1,500,000 additional shares of common stock. Exact said it will use the funds to finance efforts to obtain FDA approval of its Cologuard test, to fund Cologuard commercialization activities and to fund product development…
Oil-and-gas company TransAtlantic Petroleum (NYSEMKT:TAT) said Q1 average net sales rose 5% from a year earlier to 4,600 barrels of oil equivalent per day, including 2,900 barrels of oil per day. The company noted several wells were shut in to prepare for sidetrack operations, conversion to waterflood injection and polymer injection. It has three active rigs in southeastern Turkey and one active completion unit in Bulgaria. TransAtlantic spudded seven wells and completed seven new wells in Q1. It plans to drill between 33 and 49 gross wells in 2014. The company will provide more detailed Q1 operational and financial results in early…
Intercept Pharmaceuticals (NASDAQ:ICPT) shares edged higher in Friday’s pre-market session, after the clinical-stage biopharmaceutical company late Thursday said its public offering of 1 million common shares priced at $320 per share, a discount of just 0.6% to its Thursday closing price. The stock climbed as investors were encouraged by the relatively tiny discount. It was up 1.9% at $328 in recent pre-market trading, in a 52-week range of $30.38 to $497.00. The offering includes 600,000 shares sold by Intercept (NASDAQ:ICPT), with net proceeds to the company of about $183.3 million, while the remaining 400,000 were sold by certain institutional selling…
Catalyst Pharmaceutical Partners (CPRX) shares were higher over 7% in recent pre-market trade after pricing a public offer of 11.33 million shares at $2.21 per share, the closing price on Wednesday. Prior to the pricing the stock was down 5%. The stock is trading above the mid-point of the 52-week range between $0.45 and $3.65. Underwriters have a 30-day option to buy an additional 1.7 million shares to cover any over-allotments. Catalyst said it plans to use net proceeds of approximately $23.3 million for continued development of Firdapse for the treatment of Lambert-Eaton Myasthenic Syndrome, for pre-commercialization activities related to…
Achillion Pharmaceuticals, Inc. reported net loss for the quarter of $13.4 million with a per-share loss of $0.14 versus our estimates of $14.7 million and $0.15, respectively. As we have discussed in previous publications, the HCV Holy Grail should contain a nuke, and therefore the nuke ACH-3422 will make or break Achillion’s chance to be relevant in the HCV race. Like Idenix (IDIX $6.63; Outperform), Achillion has elected to launch the first study of its nuke candidate outside the United States; the study will be initiated during second quarter 2014, with initial seven-day viral kinetic data expected during third quarter.…
Novartis reported second-quarter results that largely matched expectations and those of consensus. No significant changes are made to the estimate of $78 per share based on the quarterly results. During the quarter, the strength in recently launched products as well as favorable clinical data offset increased generic competition, showcasing the strong intellectual property at the core of Novartis’. Additionally, the company increased its full-year 2013 operating income outlook to a low-single-digit decline, up from a mid-singledigit decline largely due to slightly delayed generic competition for cardiovascular drug Diovan in certain geographies. On the pharmaceutical front, several key recently launched products…
Pepco reported adjusted earnings per share of $0.22 for the second quarter of 2013 versus $0.20 in the same period last year. The improved results were driven by rate increases and lower operations and maintenance costs. Partially offsetting these favorable factors were a positive adjustment to default electricity supply margins in 2012 and lower unbilled revenue at Atlantic City Electric. Pepco reiterated its 2013 adjusted EPS guidance of $1.05-$1.20. The 2.1% drop in weather-normalized power delivery sales during the second quarter and 1.1% drop year to date was disappointing, as the company had guided to 1.4% sales growth in 2013…