Apple Inc. (NASDAQ:AAPL) is up over 1% in pre-market trading after analyst Abhey Lamba of Mizuho Securities upgraded the stock from Neutral to Buy, though lowering his price target to $120 from $125. His firm’s recent survey of over 1000 customers indicates a high likelihood that the customers will upgrade their phones in the next few years, which leads him to believe the company has many loyal customers. He also states that recent concerns regarding China and supply chain data create a favorable risk-reward ratio. According to TipRanks’ statistics, out of the 32 analysts who have rated the company in the last 3 months, 26 gave a Buy rating while 6 remain on the sidelines. The average 12-month price target for the stock is $139.64, marking a 44% upside from where shares last closed.
Synergy Pharmaceuticals Inc (NASDAQ:SGYP) is up over 14% in pre-market trading after the company announced positive data regarding its trial of dolcanatide, a uroguanlyn analog used to treat gastrointestinal disorders. The study showed that dolcanatide showed more improvement in patientents with Ulverative Colitis compared to those taking the placebo. Furthermore, the drug was safe and well-tolerated in patients. As a result of this positive data, the company plans on moving to the next phase of clinical development. Out of the 3 analysts polled by TipRanks, all gave a Buy rating. The average 12-month price target for the stock is $20.00, marking a 383% upside from where shares last closed.
Illumina, Inc. (NASDAQ:ILMN) is up close to 6% in pre-market trading after yesterday’s announcement of the formation of GRAIL, a new cancer screening company. Grail will use Illumina sequencing technology to develop a pan-cancer screening test that measures circulating nucleic acids in the blood. The company will be majority owned by Illumina and partly financed by ARCH Venture Partners and others. According to TipRanks’ statistics, out of the 7 analysts who have rated the company in the past 12-months, 3 gave a Buy rating while 4 remain on the sidelines. The average 12-month price target for the stock is $200.17, marking a 21% upside from where shares last closed.
Can Fite Biopharma Ltd (ADR) (NYSEMKT:CANF) is up 6% in pre-market trading after announcing six clinical milestones it expects for 2016. The company plans on filing a Phase 3 protocol with the European medicines agency for CF101 to treat rheumatoid arthritis. Similarly, the company will file a Phase 3 study protocol for the same drug to treat psoriasis, a skin condition. The company also plans on filing a Phase 2 study protocol for CF102 in patients with NASH, a liver disease. Other plans for 2016 include data from a Phase 2 study of CF101, a glaucoma treatment, and an IND filing (investigational new drug) for a Phase 1 study of drug CF602, involved in treating sexual dysfunction. According to TipRanks’ statistics, only 1 analyst has rated the company in the past 3 months with a Buy rating and a $6 price target, marking a 150% upside from where shares last closed.