Wednesday Morning Pre-Market Insights: Himax Technologies, Inc. (ADR) (HIMX), Netflix, Inc. (NFLX), Alcobra Ltd (ADHD), Celator Pharmaceuticals Inc (CPXX)
Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) shares increased 4.34% to $8.65 in pre-market trading because the company’s cash dividend will be issued to all stockholders as of June 26. Beginning on July 8, shareholders will receive a $0.30 cash dividend; an increase from the previous dividend of $0.27. Last week, Tom Sepenzis of Northland Securities reiterated an Outperform rating on the stock and raised his price target from $9 to $11 due to improving business trends in all metrics. Out of the 4 analysts polled by TipRanks, 2 are bullish on the stock, 1 is neutral, and 1 is bearish.
Netflix, Inc. (NASDAQ:NFLX) shares increased 2.61% in pre-market trading following news that the online video streaming company will be splitting its stock in a seven-for-one split, making the stock more affordable for investors. The stock will be available at the split price starting on July 15. Shares of Netflix have grown tremendously since its 2002 IPO and shares have nearly doubled in 2015 alone. The company has not split its stock since 2004. According to the 27 analysts polled by TipRanks, 18 are bullish on the stock, 8 are neutral, and 1 is bearish.
Alcobra Ltd (NASDAQ:ADHD) shares plummeted more than -16% in pre-market trading down to $7.00 after the pharmaceutical company announced disappointing results from the Phase 2 clinical trial of MDX to treat Fragile X Syndrome. The study did not meet its primary endpoint of reducing ADHD in patients and the results from the treatment groups were not statistically significant. The company will discuss these disappointing results with the FDA before moving forward with the next study.
Celator Pharmaceuticals Inc (NASDAQ:CPXX) shares increased nearly 13% in pre-market trading to $2.53 after the company announced positive data from a Phase 3 study of CPX-351 in patients with high-risk acute myeloid leukemia. The drug demonstrated a 43% increase in relative improvement for induction response rates. This is a key secondary endpoint and more data regarding overall survival, which is the primary endpoint of the study, will be available in the first quarter of 2016. According to TipRanks, one analyst currently rates CPXX a Buy.