Seadrill Ltd (NYSE:SDRL) is up nearly 4% in pre-market up to $4.35 after oil rebounded yesterday. Prices inched up as oil workers in Kuwait went on strike, nearly cutting the country’s production in half from 2.8 million barrels to 1.5 million. The workers are on strike to protest against public sector pay reform, according to CNBC. This follows a meeting that took place in Doha over the weekend between oil exporting giants, in which the key players failed to reach an agreement to reduce oil production to stabilize oil prices.
According to TipRanks, one analyst is neutral on SDRL while one remains bearish.
Synergy Pharmaceuticals Inc (NASDAQ:SGYP) is up 3% in pre-market to $3.75 after Rodman & Renshaw analyst Ram Selvaraju reiterated a Buy rating on the company with a $16 price target following the acceptance of its New Drug Application for plecanatide, it’s lead pipeline candidate. Plecanatide is intended to treat chronic idiopathic constipation and will be reviewed before January 29, 2017. The analyst calls this a “substantial milestone for the company” and he is “highly confident in plecanatide’s prospects.” Selvaraju anticipates that the company will begin commercial preparations for the drug later this year.
According to TipRanks, all 3 analysts who have rated the company in the last 3 months are bullish with an average 12-month price target of $11.17, marking over a 200% potential upside.
CalAmp Corp. (NASDAQ:CAMP) is falling nearly 10% in pre-market trading, down to $15.71 after the company posted earnings yesterday after market close and missed revenue estimates. The company posted Q1 revenue of $70.8 million, narrowly missing the estimate of $71.05, but lacking strong growth since the company posted $69.2 million in the same quarter of last year. Following earnings, analyst Jonathan Ho of William Blair downgraded the company from “Buy” to “Hold,” noting that macro challenges and the loss of the EchoStar will limit the stock’s potential. EchoStar was the company’s direct broadcast satellite customer that discontinued purchases from CalAmp.
According to TipRanks, Ho has a 51% success rate recommending stock with a +7.2% average return per rating.
CTI BioPharma Corp (NASDAQ:CTIC) is up 7% in pre-market trading to $0.58 after the company released data overnight. The company announced positive findings on pacritinib, a pipeline drug currently in testing to treat certain forms of myelofibrosis. The new data demonstrates that the drug may be effective in decelerating the survival rates of repopulating cells in myelofibrosis and acute myeloid leukemia. Furthermore, the data also shows that the drug in low concentrations and used in tandem with other drugs can halt self-renewing leukemia stem cells in blast crisis of chronic myeloid leukemia with minimal damage. According to TipRanks, 2 analysts are currently neutral on the company while 1 is bearish.