Endo International plc. (Nasdaq: ENDP) Settles FTC Lawsuit – Shares Continue Slide

Endo International plc. – Nasdaq: ENDP 

Shares of Ireland-based Endo International plc. continue their 2017 slide. ENDP shares, traded on the Nasdaq, have lost around 1/3 of their value this year. Today Endo International settled allegations that Endo Pharmaceuticals violated antitrust law when it agreed to pay rivals Watson Laboratories and Impax to delay introducing generic versions of two painkillers. The FTC’s complaint, filed in the U.S. District Court for the Eastern District of Pennsylvania, alleged that certain aspects of the Opana® ER and Lidoderm® settlements constituted unfair methods of competition in violation of federal law and sought injunctive and declaratory relief, as well as other remedies including restitution and disgorgement. 

Endo develops, manufactures, markets and distributes quality branded pharmaceutical and generic pharmaceutical products as well as over-the-counter medications through its operating companies worldwide. 

Eighteen firms follow Endo International. Seven rate ENDP as a “Strong Buy”, one rates the shares a “Buy”, and ten rate ENDP as a “Hold”. The consensus price target is $20. 

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/23/2017
Ticker Symbol ENDP
Last Price a/o 3:26 PM EST  $                    12.10
Average Volume 5.72 million
Market Cap $2.8 Billion
Sales $3.84 Billion
Shares Outstanding 233 million
Share Float 221.48 million
Shortable Yes
Optionable Yes
Inside Ownership 0.20%
Short Float 6.29%
Short Interest Ratio 2.43
Quarterly Return -37.96%
YTD Return -25.08%
Year Return -78.11%

Novocure Ltd. (Nasdaq: NVCR) Releases Big Announcement

Novocure Ltd. – Nasdaq: NVCR

Novocure Ltd. shareswere were up over 17% on news that physicians at 500 cancer treatment centers in the U.S. have been certified to prescribe Novocure’s Optune® to newly diagnosed and recurrent glioblastoma (GBM) patients. Optune is Novocure’s wearable, portable, FDA-approved Tumor Treating Fields (TTFields) delivery system. Physicians at an additional 291 medical institutions throughout the world also can prescribe Optune to GBM patients.

Novocure Ltd. shares are traded on the Nasdaq under ticker symbol NVCR. Shares of NVCR are held by ETFs IBB, IWM, IWO, VB and VBK. Pre-market volumes are heavy.

UK-based Novocure is a commercial-stage oncology company developing a proprietary therapy called Tumor Treating Fields, or TTFields, for the treatment of solid tumor cancers. Novocure’s commercialized product, Optune, is approved for the treatment of adult patients with glioblastoma. Novocure has ongoing or completed phase 2 pilot trials investigating TTFields in non-small cell lung cancer, pancreatic cancer, ovarian cancer and mesothelioma.

 Five firms follow Novocure Ltd. and give it a consensus price target of $14.50. Two rate NVCR as a “Strong Buy”, two rate NVCR as a “Hold”, and one rates NVCR as a “Sell”. 

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/19/2017
Ticker Symbol NVCR
Last Price a/o 6:15 AM EST  $                      7.05
Average Volume 431,250
Market Cap $559.7 million
Sales $65 million
Shares Outstanding 86.77 million
Share Float 63.34 million
Shortable Yes
Optionable Yes
Inside Ownership 10.40%
Short Float 6.85%
Short Interest Ratio 10.06
Quarterly Return -11.89%
YTD Return -17.83%
Year Return -62.19%

Benitec Biopharma Limited (Nasdaq: BNTC) Secures EU Exclusivity

Benitec Biopharma Limited – Nasdaq: BNTC

Benitec Biopharma Limited shares are up over 75% from their Friday close of $1.85. The Australian company trades on the Nasdaq as an American Depository Share (ADR) under ticker BNTC. Investors seem to be responding to news that the European Union designated Benitech Biopharma’s BB-301 as an Orphan Drug for the treatment of oculopharyngeal muscular dystrophy. The designation of Benitec’s drug as an Orphan drug carries with it a 10-year exclusivity for the EU market.

Benitec Biopharma is a biotechnology company developing a therapeutic technology platform that combines gene silencing and gene therapy with a goal of providing sustained, long-lasting silencing of disease-causing genes from a single administration. The company belives their technology has the potential to be a “one shot” cure for a wide range of diseases that are currently addressed by strict ongoing treatment regimens or that have no effective treatment or only palliative care options. Using proprietary technology, Benitec is developing a pipeline of product candidates for the treatment of several chronic and life-threatening human diseases. They expect a Phase 1 and 2 study to begin in 2018.

The single firm that follows Benitec Biopharma Limited rates shares of BNTC as a “Hold”. As of this writing, BNTC has no reported EPS and sales of $7 million.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

 

Straight Path Communications Inc. (NYSE: STRP) Gaps up – Comes Down

Straight Path Communications Inc.- NYSE: STRP

Straight Path Communications Inc. opened Thursday at over $50 after closing Wednesday at $31.41. The shares, traded on the Nasdaq under ticker STRP, are heavily shorted by the market– with a short float ratio of over 46%.

Shares of STRP benefited from the termination of an FCC investigation. Straight Path can now move forward with the vast majority of its nationwide 39 GHz spectrum fully intact, and its 28 GHz spectrum unchanged. Both of these spectrum bands, 28 and 39 GHz, were the recent beneficiaries of a July 2016 FCC rule change. The change allows these bands to be used for mobile wireless and is central to the industry-wide push to 5G, in order to provide higher speeds to hundreds of millions of consumers and businesses throughout the U.S. Straight Path agreed to pay the FCC 20 percent of the value received from a sale of its spectrum assets. If Straight Path does not announce a transaction within 12 months, it will pay another $85 million to the FCC (or return its spectrum licenses to the FCC).

CEO Davidi Jonas commented “We are pleased that we were able to achieve a comprehensive settlement with the FCC, which allows us to move forward as the largest holder of 39 GHz spectrum, with about 95 percent of the total licenses commercially available at this time, as well as a significant holder of 28 GHz in major markets, including New York and San Francisco. These licenses allow us to continue as a leader in the next frontier of telecommunications.”

STRP opened the trading session at $51 before trading pushed shares lower and eventually settled at $41.13 on heavy volume. Straight Path Communications Inc. is not followed by any analysts. In 2016, Straight Path Communications reported an EPS loss of $0.70 on sales of $700,000.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/12/2017
Ticker Symbol STRP
Last Price a/o 4:00 PM EST  $                    41.13
Average Volume 168,000
Market Cap $531 million
Sales $600,000
Shares Outstanding 12.9 million
Share Float 5.82 million
Shortable Yes
Optionable Yes
Inside Ownership 4.40%
Short Float 46.51%
Short Interest Ratio 16.09
Quarterly Return 32.59%
YTD Return 21.29%
Year Return 218.00%

Derma Sciences (Nasdaq: DSCI) Soars on Buyout

Derma Sciences Inc. – Nasdaq: DSCI

Derma Sciences Inc. shares shot up over 39% on news that the company has agreed to be bought out by Integra Life Sciences (IART). Derma Sciences Inc. shares, traded on the Nasdaq under ticker DSCI, settled at $6.95 – five cents below the buyout price of $7.00.

Derma Sciences is a Tissue Regeneration Company that claims to be at the forefront of research and innovation for the management of acute and chronic wounds, and burns. Stephen Wills, executive chairman at Derma stated “”Both Integra and Derma have a significant commitment to tissue regeneration, wound care and patient care. Derma’s portfolio of biologics and advanced wound care products are a natural extension of Integra’s business, and with Integra’s global presence, our products will reach a much larger and broader set of clinicians and patients.”

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

 

Novadaq Technologies Inc. (Nasdaq: NVDQ) Beats Estimates, Drops in After-Hours Trading

Novadaq Technologies, Inc. – Nasdaq: NVDQ

Shares of Novadaq Technologies, Inc. dropped after the firm released financial results for the 4th quarter and gave guidance for 2017. Novadaq Technologies, Inc. trades on the Nasdaq under ticker symbol NVDQ. Despite modestly beating street estimates on quarterly and annual revenues, shares of the medical technology firm dropped almost 14% in after-hours trading.

Rick Mangat, NOVADAQ’s President and Chief Executive Officer stated “Our fourth quarter revenue results and preliminary guidance for 2017 reflect strong demand for usage of SPY Technology as well as the shift in our strategic direction toward greater emphasis on procedure expansion and recurring revenue. We believe this evolution of our business model will provide greater sales leverage, broader market accessibility and enhanced revenue visibility,”

Bonita Springs, FL-based Novadaq Technologies Inc. develops, manufactures, and markets fluorescence imaging products for use by surgeons. Its proprietary imaging platform is used to visualize blood vessels, nerves, and the lymphatic system during surgical procedures.

Ten firms follow Novadaq Technologies. Eight assign a rating of “Strong Buy” to NVDQ, one rates it as a “Buy” and one rates NVDQ as a “Sell”.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

1/11/2017
Ticker Symbol NVDQ
Last Price a/o 6:40 AM EST  $                      6.40
Average Volume 395,000
Market Cap $439 million
Sales $80 million
Shares Outstanding 57.44 million
Share Float 47.72 million
Shortable Yes
Optionable Yes
Inside Ownership
Short Float 11.85%
Short Interest Ratio 14.31
Quarterly Return -30.40%
YTD Return 7.90%
Year Return -43.80%

Enteromedics Inc. (Nasdaq: ETRM)

EnteroMedics Inc.– Nasdaq: ETRM

Enteromedics Inc has had four continuous days of gains. Traded on the Nasdaq under ticker ETRM, the biotech stock had a reverse split in late December. What is newsworthy of late is the massive relative volumes that have been associated with the stock. Below is our original report from January 6, 2017.

____________________________________________

Shares of MN-based EnteroMedics Inc. are up over 80% in pre-market trading on heavy volume. Shares are traded on the Nasdaq under the ticker symbol ETRM. ETRM closed at $2.09 on Wednesday, $3.97 on Thursday, and have traded as high as $7.62.

EnteroMedics® Inc. develops therapies for obesity. It has developed vBloc® vagal blocking therapy, a patented therapeutic approach to treat a range of gastrointestinal and metabolic diseases. vBloc® is a weight loss treatment that addresses the growing global health crises associated with obesity and its co-morbidities, such as diabetes and hypertension.

vBloc® Therapy, delivered by a pacemaker-like device called the Maestro® Rechargeable System, controls both hunger and fullness by blocking the primary nerve which regulates the digestive system. The Maestro Rechargeable System has received Food and Drug Administration (FDA) approval as well as CE Mark in Europe, and has been listed on the Australian Register of Therapeutic Goods (ARTG) by the Therapeutic Goods Administration (TGA) for supply in Australia.

Price action seems to be motivated by news that MedStar Health in Maryland and Roper St. Francis in South Carolina, both vBloc institutes, have implanted vBloc Neurometabolic therapies.

EnteroMedics Inc. has no reported sales. Only one firm follows ETRM and rates it as a “Strong Buy”.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

SNU stocks that may be the ones to watch in 2017

Poised for big move in 2017?

At SNU we see a lot of stocks and write about those that we believe are, or will be, a hot topic. We searched through our screeners for five we believe investors might want to pay attention to in the coming year. The following are small-cap Nasdaq stocks that have good volumes, priced between $5 and $20, have good insider trading characteristics, and experts believe will have superior 2017 earnings.

FRED – Fred’s, Inc. sells general merchandise through its retail discount stores and full service pharmacies. The company, through its stores, offers household cleaning supplies, health and beauty aids, disposable diapers, pet foods, paper products, various food and beverage products, and pharmaceuticals to low, middle, and fixed income families in small- to medium- sized towns. It also sells general merchandise to franchised Fred’s stores. As of January 30, 2016, the company operated 641 company-owned stores in 15 states and 18 franchised stores under the Fred’s name, as well as 372 pharmacies and 3 specialty pharmacy facilities primarily in the southeastern United States. It also operates 18 franchised stores under the Fred’s name. Fred’s, Inc. was founded in 1947 and is headquartered in Memphis, Tennessee.

CONN – Conn’s, Inc. is a specialty retailer of durable consumer goods and related services in the United States. The company’s stores provide home appliances comprising refrigerators, freezers, washers, dryers, dishwashers, and ranges; furniture and mattress, including furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; and home office products consisting of computers, tablets, printers, and accessories. Its stores also offer consumer electronics, such as LED, OLED, Ultra HD, and Internet-ready televisions; and Blu-ray players, and home theater and portable audio equipment. Conn’s, Inc. also provides repair service agreements, installment credit plans, and various credit insurance products. As of March 29, 2016, the company operated approximately 100 retail locations in Arizona, Colorado, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. Conn’s, Inc. was founded in 1890 and is based in The Woodlands, Texas.

KTOS – Kratos Defense & Security Solutions, Inc. provides mission critical products, solutions, and services primarily for Government and commercial customers. The company operates through three segments – Kratos Government Solutions, Unmanned Systems, and Public Safety & Security. The Kratos Government Solutions segment offers microwave electronic products; satellite communications; technical and training solutions; modular systems; and defense and rocket support services. The Unmanned Systems segment provides unmanned aerial, ground, seaborne and command, control, and communications systems. The Public Safety & Security segment offers integrated solutions for homeland security, public safety, and critical infrastructure, as well as security and surveillance systems. This segment serves critical infrastructure, power generation, power transport, nuclear energy, financial, IT, healthcare, education, transportation, and petro-chemical industries, as well as government and military customers. The company was founded in 1994 and is headquartered in San Diego, California.

MDCA – MDC Partners Inc. provides marketing, advertising, activation, communications, and strategic consulting solutions worldwide. Its Advertising and Communications segment offers multi-channel media management and optimization; interactive and mobile marketing; direct marketing; database and customer relationship management; sales promotion; corporate communications; market research; data analytics and insights; corporate identity, design, and branding services; social media communications; product and service innovation; and e-commerce management. The company was formerly known as MDC Corporation Inc. and changed its name to MDC Partners Inc. in January 2004. MDC Partners Inc., founded in 1980, is headquartered in New York, New York.

EGLE – Eagle Bulk Shipping Inc., through its subsidiaries, engages in the global ocean transportation of dry bulk cargoes. The company owns, charters, and operates dry bulk vessels that transport a range of bulk cargoes, including coal, grain, ore, pet coke, cement, and fertilizers. As of December 31, 2015, it owned and operated a fleet of 44 oceangoing vessels, which include 43 Supramax and 1 Handymax vessels with a combined carrying capacity of approximately 2,404,064 deadweight tons. Eagle Bulk Shipping Inc.,founded in 2005, is headquartered in Stamford, Connecticut.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

Energous Corporation (Nasdaq: WATT) Up Today

Energous Corporation; Nasdaq: WATT

Shares of Energous Corporation are up close to 10% on heavy volume. Energous Corporations trades on the Nasdaq under the ticker symbol WATT. Yesterday WATT closed at $17.48 but today’s morning trading has seen the shares trading as high as $19.28.

Energous Corporation is the developer of WattUp®—an award-winning, wire-free charging technology that Energous hopes will transform the way consumers and industries charge and power electronic devices at home, in the office, in the car and beyond. WattUp is a radio frequency (RF) based charging solution that delivers intelligent, scalable power via radio bands, similar to a Wi-Fi router. WattUp differs from other wireless charging systems in that it delivers power at a distance, to multiple devices – thus resulting in a wire-free experience that saves users from having to plug in their devices.

In November the U.S. Patent Office’s Trial and Appeal Board (PTAB) rejected a challenge to the Energous patent.

“Yesterday’s decision from the PTAB confirms our steadfast confidence in the strength of our intellectual property and strategy surrounding our WattUp technology,” said Stephen R. Rizzone, president and CEO of Energous. “As a licensing and semiconductor company, protecting and securing our patents is an important element of our goal of maintaining a dominant leadership position in the emerging market of wire-free power. We will continue to vigorously defend our intellectual property as we innovate and develop breakthrough wire-free charging technologies.”

Three firms follow Energous Corporation and all three give WATT shares a “Strong Buy” rating.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

12/22/2016
Ticker Symbol WATT
Last Price a/o 11:44 AM EST  $             19.15
Average Volume 569,780
Market Cap $327.75
Sales $1.3 million
Shares Outstanding 18.75 million
Share Float 14.08 million
Shortable Yes
Optionable Yes
Inside Ownership 2.30%
Short Float 31.29%
Short Interest Ratio 7.73
Quarterly Return -6.52%
YTD Return 121.00%
Year Return 124.10%

InvenSense Inc (NYSE: INVN) Sets Acquisition Pricing at $13/share

InvenSense Inc.; NYSE: INVN

This morning InvenSense Inc.finalized a previously announced acquisition deal that would see its shares purchased by Japanese-based TDK for $13 per share – $1.00 more than initial reports. InvenSense Inc trades on the NYSA under the ticker INVN. Shares of INVN immediately popped over 15% on the news from their Tuesday close of $10.84. For most of 2016 INVN traded between $5 and $10. When initial news of the $1.3 Billion deal hit, Shares on InvenSense Inc. jumped 28%.

Founded in 2003, InvenSense Inc. is the world’s leading provider of MEMS sensor platforms. Its corporate headquarters are in San Jose, CA with offices in North America, Europe, and Asia. InvenSense’s vision of Sensing Everything™ targets the consumer electronics and industrial markets with integrated Motion and Sound solutions. InvenSense Inc. solutions combine MEMS (micro electrical mechanical systems) sensors, such as accelerometers, gyroscopes, compasses, and microphones with proprietary algorithms and firmware that intelligently process, synthesize, and calibrate the output of sensors, maximizing performance and accuracy. InvenSense’s motion tracking, audio and location platforms, and services can be found in many of the world’s largest and most iconic brands including smartphones, tablets, wearables, drones, gaming devices, internet of things, automotive products, and remote controls for smart TVs.

Eleven analysts cover INVN with four giving it a rating of “Strong Buy” and seven giving it a rating of “Hold”. InvenSense Inc. sales have continuously increased year-on-year. In 2012 reported sales were $153 million and in 2015 reported sales were $418.4 million. EPS did not perform as well. In 2012 INVN had a $0.39 EPS but in 2015 there was a reported EPS loss of $0.23.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

Ticker Symbol INVN
Last Price a/o 7:21 AM EST  $             12.62
Average Volume 1.74 million
Market Cap $1.03 Billion
Sales $340 million
Shares Outstanding 94.67 million
Share Float 93.48 million
Shortable Yes
Optionable Yes
Inside Ownership 0.40%
Short Float 10.90%
Short Interest Ratio 5.84
Quarterly Return 39.69%
YTD Return 5.96%
Year Return 3.44%