Monday Morning Pre-Market Insights: Groupon Inc (GRPN), Anacor Pharmaceuticals (ANAC), pSivida Corp. (PSDV), OHR Pharmaceutical Inc (OHRP)
Groupon Inc (NASDAQ:GRPN) shares rose 3.3% in pre-market trading to $5.00 after Tom White of Macquarie upgraded the stock from Neutral to Outperform, though he reduced his price target from $7.75 to $7. White pointed to the company’s stable fundamentals and strong cash/asset position. According to the 13 analysts polled by TipRanks in the last 3 months, 7 are bullish on Groupon and 6 are neutral. The average 12-month price target on the stock is $8.42, marking a potential 74% upside from where the stock is currently trading.
Anacor Pharmaceuticals Inc (NASDAQ:ANAC) shares soared 42% in pre-market trading to $120 after the biopharmaceutical company announced positive top-line results from 2 Phase III studies of crisaborole, a topical ointment used to treat atopic dermatitis. Anacor expects to submit an NDA for crisaborole in the first half of 2016. Anacor believes that there are 18 million to 25 million people in the United States suffering from atopic dermatitis. Out of the 2 analysts polled by TipRanks in the past 3 months, both are bullish on the stock.
pSivida Corp. (NASDAQ:PSDV) shares jumped more than 10% in pre-market trading to $4.50 after the biopharmaceutical company announced statistically significant positive top-line results from a Phase II study of Medidur for posterior uveitis, a chronic inflammatory disease that effects the eye and is one of the leading causes of blindness. The ongoing study lasted 3 years and incorporated 11 participants. None of the participants who were treated with Medidur experienced a recurrence of uveitis. According to TipRanks, one analyst has rated the stock in the past 3 months with a bullish rating and a $6.50 price target, marking a 60% potential upside from where the stock is currently trading.
OHR Pharmaceutical Inc (NASDAQ:OHRP) shares soared more than 20% in pre-market trading to $2.74 after the biopharmaceutical company announced positive results in a Phase II trial of OHR-102 in patients with macular edema secondary to branch (BRVO) and central retinal vein occlusion (CRVO). The study proved that patients who took OHR-102 and Lucentis experienced more substantive improvements in sight than those patients who took Lucentis alone. OHR Pharmaceutical noted that the successful results and favorable safety profile warrants a further study for the pipeline drug. According to TipRanks, 2 analysts have rated OHRP in the past 3 months with 1 buy rating and 1 hold rating. On average, the 12-month price target is $18.50 marking a tremendous 700% potential upside from where the stock is currently trading.