Tuesday’s Mid-Day Movers: pSivida Corp. (PSDV), Argos Therapeutics Inc (ARGS), Acacia Research Corp (ACTG), ORBCOMM Inc (ORBC)
pSivida Corp. (NASDAQ:PSDV) is soaring 32% at mid-day following positive late stage results from treatment Medidur. Medidur was designed to treat posterior uveitis, a condition affecting the eye. Notably, the treatment met the primary endpoint of the trial, which was the prevention of the disease returning after 6 months. According to TipRanks’ statistics, one analyst has rated the company in the past 3 months with a Buy rating and a 12-month price target of $10, marking a 106% upside from current levels.
Argos Therapeutics Inc (NASDAQ:ARGS) is up 32% at mid-day trading after the company decided to extend yesterday’s breakout. This decision came amidst a downtrend for the stock in the past year. Despite this increase in stock price, the stock is still trading down 70% YTD. Out of the 3 analysts who have rated the company in the past 3 months, all 3 gave a Buy rating. The average 12-month price target between these analysts is $15.33, marking a 464% upside from current levels.
Acacia Research Corp (NASDAQ:ACTG) is down close to 10% at mid-day trading after the announcement that CEO Matthew Vella has resigned. The company is currently in the process of finding a replacement, with Marvin Kay, Senior Vice President of the company, acting as interim CEO. According to Tipranks’ statistics, one analyst has rated the company in the last 3 months with a Hold rating and 12-month price target of $5.40, marking a 36% upside from current levels.
ORBCOMM Inc (NASDAQ:ORBC) is up over 8% at mid-day trading after last night’s announcement that the company has successfully launched 11 next generation OG2 satellites from the Cape Canaveral Air Force Station in Florida. The OG2 satellites successfully separated from the Falcon 9 launch vehicle into orbit. Of the two analysts who have rated ORBC in the last 3 months, both gave a bullish rating. The average 12-month price target between these two analyst is $9.13, marking a 26% upside from where shares last closed.