Seadrill Ltd (NYSE:SDRL) is up 3% in pre-market trading to $7.05 after a slight price rebound in Asia today combined with positive news from Saudi Arabia. The Deputy Oil Minister of Saudi Arabia announced that oil prices will make a comeback and that the new lows are not the new normal. The Deputy Oil Minister assured, “Just as the assertions, heard a few years ago that the oil price would reach $200 a barrel were proved wrong, so the recent assertion that the oil price has shifted to a new low structural equilibrium will also turn out to have been wrong.” Saudi Arabia is the global leader of crude exports. According to the 3 analysts polled by TipRanks in the last 3 months, 2 are bearish on the oil company and 1 is neutral. The average 12-month price target on the stock is $9, marking a 31% potential upside from where shares last closed.
AEterna Zentaris Inc. (USA) (NASDAQ:AEZS) is up 13.86% in pre-market trading to $0.064 after analyst Neil Maruoka at Canaccord Genuity upgraded the stock from Hold to Buy with a price target of $0.10. The biopharmaceutical company currently has several drugs in its pipeline, both in preclinical and late-stage testing. The company also has one commercialized product; Estrogel; an estrogen therapy to treat menopause symptoms. The company released third quarter earnings last week, highlighting year-over-year EstroGel prescription growth. The company posted a quarterly loss of $15.3 million, or a loss of ($0.07) per share. This is a wider loss than the quarterly loss of $11.3 million and ($0.20) loss per share the company posted in the same quarter of last year, which the company attributes to higher net finance costs and selling expenses. According to the 2 analysts polled by TipRanks in the last 3 months, both are bullish on AEZS with an average 12-month price target of $1.05, marking an overwhelming 1,650% potential upside from where shares last closed.
Novavax, Inc. (NASDAQ:NVAX) slipped 7% in pre-market trading down to $7.44 after the company released a Q3 loss this morning before market open. The biopharmaceutical company posted a quarterly net loss of $33.1 million, or ($0.12) per share, marking a wider loss the loss of $19.7 million and ($0.08) per share the company posted in the same quarter of last year. Overall, revenue fell 21% year-over-year. As of this writing, 2 analysts polled by TipRanks have weighed in the company in the last 3 months, both of which have rated the stock a Buy. The average 12-month price target for NVAX is $14, marking a 75% potential upside from where shares last closed.
Glu Mobile, Inc. (NASDAQ:GLUU) fell 4% in pre-market trading. The company posted Q3 earnings on Thursday after market close, reporting earnings of $0.06 per share and higher than expected revenues of $64.4 million. However, analysts have downgraded the stock due to weak guidance issued for the 4th quarter. Some analysts believe that Glu’s weaknesses outweigh its strengths. These include a poor stock performance, little growth in net income, and disappointing operating cash flow. Analyst Mike Hickey of Benchmark downgraded GLUU from Buy to Hold following earnings. According to the 3 analysts polled by TipRanks in the last 3 months, 1 has issued a Buy rating while 2 have issued a Hold rating. The average 12-month price target for Glu Mobile is $6.00, marking an 86% upside from where shares last closed.