Friday Morning Insights: Fitbit Inc (FIT), Northwest Biotherapeutics, Inc (NWBO), Sarepta Therapeutics Inc (SRPT)
Fitbit Inc (NYSE:FIT) shares slipped -5.82% in pre-market trading down to $39, as worries about the health of China’s economy shook markets, hitting stocks in Asia and Europe. China stock markets tanked more than 4% on Friday, taking weekly losses for the main indexes to nearly 12% and casting doubt over Beijing’s ability to prevent another bout of panic selling as the market neared collapse again. According to the 12 analysts polled by TipRanks in the last 3 months, 7 are bullish on Fitbit, while 5 are neutral. The average 12-month price target is $55.38, marking a 33.74% potential upside from where shares last closed.
Northwest Biotherapeutics, Inc (NASDAQ:NWBO) shares plummeted -11.04% in pre-market trading down to $7.90, as according to the EU Clinical Trials Register, the phase 3 trial of DCVax-L in newly diagnosed glioblastoma multiforme is “temporarily halted” in Germany. As a reminder, in June 30, the company’s major shareholder, Cognate Bioservices dumped 1,768,092 Northwest Biotherapeutics shares (8.74% of total stake) valued at $7,318,348. Click Here to see the performance of Northwest Biotherapeutics insiders.
Sarepta Therapeutics Inc (NASDAQ:SRPT) shares increased 3.12% in pre-market trading up to $65.69 following the news that the FDA has granted Rare Pediatric Disease Designation for eteplirsen, a potential treatment for patients with Duchenne Muscular Dystrophy (DMD) who are amenable to skipping exon 51. The Rare Pediatric Disease Designation supplements the Orphan Drug Designation and Fast Track Status previously granted by the FDA for eteplirsen. According to the 15 analysts polled by TipRanks in the last 12 months, 8 are bullish on Sarepta, while 7 are neutral. The average 12-month price target is $$40, marking a 16.55% potential upside from where shares last closed.