GoPro Inc (NASDAQ:GPRO) shares are up 2.40% in pre-market trading to $58.00 as the company prepares to post earnings tomorrow after market close. Analysts estimate that the company will post $395.22 million in revenue, marking an overwhelming 60% year-over-year increase. The company has beaten earnings expectations in three of the last four quarters. Furthermore, the company received several bullish ratings last week signaling confidence in the earnings. Out of the 16 analysts polled by TipRanks, 11 are bullish on GoPro and 5 are neutral. The average 12-month price target on the stock is $71.82, marking a 27% increase from where the shares last closed.
Yamana Gold Inc. (USA) (NYSE:AUY) shares dropped nearly -3% in pre-market trading to $2.32 as the price of gold fell to a five-year low. The price drop is attributed to speculation that the Federal Reserve will hike up interest rates as the U.S. dollar gains strength. A strong U.S. dollar is often reversely correlated with the price of commodities, as investors seek stability in natural resources when the dollar is weak. Shares are now trading at a 52-week low, down from the stock’s 52-week high of $9.04. According to the 3 analysts polled by TipRanks in the past 3 months, 2 are bullish on the stock and one is neutral.
Exelixis, Inc. (NASDAQ:EXEL) shares shot up nearly 30% in pre-market trading to $5.08 after the pharmaceutical company released positive results from Phase III testing of Cabozantinib, a pipeline drug aimed at treating patients with kidney cancer. The study consisted of 658 patients and met its primary endpoint of significantly improving progression-free survival. A secondary endpoint of the trial aimed to improve overall survival, but the data was immature at the time of the data cutoff. The study also confirmed low levels (10%) of treatment discontinuation due to severe side effects. Cabozantinib has FDA fast-track designation and the company intends to complete regulatory filings for the drug in early 2016.
Horizon Pharma PLC (NASDAQ:HZNP) shares increased 8.9% in pre-market trading to $40.38 after the pharmaceutical company released new second quarter and full-year 2015 estimates. The company now expects second quarter net sales between $170 million and $172 billion, marking a potential 160% year-over-year increase and a potential 50% sequential increase. This will be a new record for the company. Horizon Pharma also raised full year 2015 net sales estimate from the range of $590 million to $610 million up to the range of $660 million and $680 million. The biotechnology company will release earnings on Friday, August 7. According to the 5 analysts polled by TipRanks in the last 3 months, all 5 are bullish on the stock. The average 12-month price target is $39, marking a potential 5% upside from where the stock is currently trading.