Linn Energy LLC (NASDAQ:LINE) is up 9% in pre-market trading after oil prices rose slightly this morning due to a weaker dollar, which increased the interested in riskier assets for holders of other currencies. This comes after dovish comments made by Fed Chair Janet Yellin yesterday about a possible rise in interest rates. Brent futures LCOc1 is now at #39.60 a barrel and U.S. crude CLc1 is at $38.89 a barrel. Another reason for the slight rise is comments from the International Energy Agency regarding Iran’s projected oil output. The agency stated that Iran would not produce as much oil as it originally planned. Executive director of the IEA Fatih Biron stated, “It was misleading to believe that there would be a huge amount of new Iranian crude and natural gas production entering the market in the short term,”
According to TipRanks’ statistics, all 5 analysts who have rated the company in the past 3 months are bearish. The average 12-month price target for the stock is $0.50, marking a 39% upside from where shares last closed.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is soaring nearly 25% in pre-market trading after the company got the nod from the FDA’s advisory committee for Nuplazid, the company’s drug to treat psychosis associated with Parkinson’s disease. The drug has already been granted Breakthrough Drug designation, which will give it priority review, but it was facing scrutiny after several patients died in the trial. The FDA’s advisory committee voted 12 to 2, in favor of the drug. The committee concluded that the deaths in the trial could not be directly attributed to Nuplazid as high mortality rates are associated with PDP, and that the benefits of the treatment outweigh the risks. In light of the good news for Acadia, Needham analyst Alan Carr reiterated a Buy rating on the stock with a $49 price target, noting that the favorable votes “creates a path to approval,” which he expects by May. According to TipRanks, all 9 analysts who have rated the stock in the last 3 months are bullish with an average 12-month price target of $52, marking a 120% upside from where shares last closed.
Lululemon Athletica inc. (NASDAQ:LULU) is trading up 5% in pre-market trading as the company posted earnings this morning. The company posted fiscal fourth quarter 2015 net revenue of $704.3 million, marking a 17% year-over-year increase, and beating analysts’ estimates of $693 million. The athletic retailer posted diluted EPS of $0.85, compared to $0.78 in the same quarter of last year and beating the analyst consensus by 5 cents. For full year 2016, the company forecasts net revenue between $2.285 billion and $2.335 billion, and full year diluted EPS between $2.05 and $2.15. As of this writing, 11 analysts are bullish on Lululemon, 1 is bearish, and 3 are neutral. According to TipRanks, the average 12-month price target between these 15 analysts is $63.92, marking a 4.3% potential upside from where shares last closed.
Opko Health Inc. (NYSE:OPK) is down nearly 9% in pre-market trading after the company received a reply from the FDA regarding RAYALDEE, the company’s investigational treatment for hyperparathyroidism in patients with kidney disease. The FDA did not request a new clinical study for the drug, only indicating that there is an issue in the third-party manufacturer. Opko ensures that its third-party manufacturer has already agreed to cooperate and respond to the FDA’s observations. Phillip Frost, CEO, assured, “OPKO is committed to bringing RAYALDEE to patients who will benefit from its intended use and will work closely with the FDA and our third-party manufacturer to ensure that the inspection observations are promptly and fully addressed. We will continue to build our commercial sales organization in preparation for the earliest possible RAYALDEE launch.” According to TipRanks, both analysts who have rated the stock in the last 3 months are neutral.