Fitbit Inc (NYSE:FIT) shares are up 11.19% in mid-day trading to $33.08, adding to their 48% increase yesterday, after the wearable tech giant began trading publicly yesterday. However, Global Equities Research analyst Trip Chowdhry came out with some cautious commentary on the stock, warning that the IPO could be Fitbit’s “peak” as it faced “brutal” competition on price. The analyst noted that secular growth trends are absent on FIT and fundamental investors may want to avoid FIT Stock.
Tekmira Pharmaceuticals Corp (NASDAQ:TKMR) shares are down 9.39% to $13.61 after the company reported that the Phase 2 clinical trial of TKM-Ebola-Guinea has reached a predefined statistical endpoint and enrollment has been closed. The endpoint indicated that continuing enrollment was not likely to demonstrate an overall therapeutic benefit. Out of six analysts polled by TipRanks.com, four recommend to Buy Tekmira and two recommend to Hold. With a return potential of 65.83%, the stock’s consensus target price stands at $23.
Erickson Inc (NASDAQ:EAC) shares are on the rise Friday, after Bob McAdoo, an analyst at Imperial Capital, upgraded the stock to Outperform, while raising the price target to $7.00 (from $4.00). McAdoo noted, “In recent months, Erickson shares have been negatively impacted by challenging economic conditions and investor concerns regarding balance sheet liquidity. With new management in place and upcoming seasonally stronger third quarter trends, we believe the going concern risk at this time has been minimized. Further, our recent conversations with management suggest a clear strategy moving forward, targeting new and existing business lines in which Erickson is uniquely qualified as well as further developing the manufacturing and MRO business.”
AirMedia Group Inc (ADR) (NASDAQ:AMCN) shares are up 49.12% to $5.24 in mid-day trading, after the company announced that its Board of Directors has received a non-binding proposal letter from Herman Man Guo, Chairman of the Board and Chief Executive Officer of the Company, on behalf of himself and management of the Company, proposing a “going-private” transaction to acquire all of the outstanding ordinary shares of AirMedia not already owned by the Buyer Group for $6.00 in cash per American depositary share (“ADS”).