InvenSense Inc. (NYSE: INVN) Shares Down on Rumors of Losing Apple Account

InvenSense Inc. – NYSE: INVN

Rumors that InvenSense may lose its key contract with Apple (Nasdaq: AAPL) plunged the shares by over 10% today. InvenSense is traded on the NYSE under ticker INVN and normal average daily volumes are just over 3.2 million. However, today over 13.6 million shares traded hands. This comes just a few weeks after InvenSense agreed to be purchased by TDK for $13/share. Observers are cautious that the Apple contract loss would endanger the proposed sale of InvenSense. 

San Jose, CA-based InvenSense InvenSense, Inc. develops, manufactures, and sells MEMS (micro electrical mechanical systems) sensor platforms. InvenSense’s vision of Sensing Everything™ targets the consumer electronics and industrial markets with integrated Motion and Sound solutions. Solutions combine MEMS sensors with proprietary algorithms and firmware that intelligently process, synthesize, and calibrate the output of sensors, maximizing performance and accuracy.

InvenSense sales have increased every year since 2012 when it posted $153 million. In 2015 that figure increased to $418.4 million. INVN shareholders have not seen the same gains in EPS. In 2012 INVN posted a gain of $0.39 EPS. However in 2016 INVN posted a 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.

2/1/2017
Ticker Symbol INVN
Last Price a/o 4:40 PM EST  $                    11.50
Average Volume                3,200,000
Market Cap (mlns)  $              1,090.00
Sales (mlns) $340.00
Shares Outstanding (mlns) 93.97
Share Float (mlns) 93.48
Shortable Yes
Optionable Yes
Inside Ownership 0.40%
Short Float 10.74%
Short Interest Ratio 3.13
Quarterly Return 51.50%
YTD Return -9.38%
Year Return 54.95%

Xoma Corp. (Nasdaq: XOMA) Rises on Proof-of-Concept

Xoma Corporation – Nasdaq: XOMA

Xoma Corporation announced, after hours, that it has established proof-of-concept for its product candidate 358 in congenital hyperinsulinism and hypoglycemia post-bariatric surgery. Berkley, CA-based Xoma is up almost 10%, on heavy volumes, in the after-hours market on the news. The regular session ended with XOMA at $4.29 and has reached $4.83 in the after-hours session.

XOMA Corporation develops therapeutic antibodies. The Company’s product candidates result from its expertise in developing ground-breaking monoclonal antibodies, including allosteric antibodies, which have created new opportunities to potentially treat a wide range of human diseases. XOMA’s scientific research has produced a portfolio of endocrine assets, each of which has the opportunity to address multiple indications.

Eric P. Brass, M.D., Ph.D. stated “These data clearly demonstrate that a single-dose of 358 results in predictable and reproducible pharmacokinetics and meaningful improvements in glucose concentrations. The Company can now assess, in follow-on studies, the consistency and magnitude of 358’s effect through multi-dose protocols to yield sustained steady-state drug exposure in the target populations.”

Xoma Corporation sales have been erratic but in 2015 Xoma posted their best results since 2011 with a figure of $$55.4 million. EPS for XOMA has been negative for the past five years, but again the smallest loss was posted in 2015 with a loss figure of $3.50. Four firms follow Xoma and all rate the shares as a “Hold” with a consensus price target of $9.50.

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.

 

Evok Pharma (Nasdaq: EVOK) Rises on Analyst Upgrade

Evok Pharma, Inc. – Nasdaq: EVOK

An analyst upgrade and positive social forum chatter of technical chart characteristics are pushing up shares of Evok Pharma – traded on the Nasdaq under ticker EVOK. Volumes are heavy. EVOK ended Friday at $2.48 and the shares are now trading over 10% higher in mid-afternoon action.

Solana Beach, CA-based Evoke Pharma, Inc. (NASDAQ: EVOK) is a specialty pharmaceutical company focused primarily on the development of drugs to treat gastrointestinal (GI) diseases. The Company was established by pharmaceutical executives with a track record of acquiring, developing, registering, and marketing pharmaceutical products in the US. Evoke’s lead product candidate, EVK-001, is in late stage clinical testing. The product is intended for the treatment of diabetic gastroparesis.

EPS for EVOK has been negative for the past five years. In 2014 EVOK shares lost $2.20 per share and in 2015 lost $1.87. There are no reported sales for EVOK. Two analysts rate EVOK as a “Strong Buy” one rates the shares a “Buy”, one rates EVOK a “Hold”, and one rates EVOK at a “Sell”. Their consensus price target is $6.

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.

1/30/2017
Ticker Symbol EVOK
Last Price a/o 3:32 PM EST  $                      2.77
Average Volume 974,460
Market Cap (mlns)  $                    30.60
Sales (mlns)
Shares Outstanding (mlns) 12.34
Share Float (mlns) 16.45
Shortable Yes
Optionable No
Inside Ownership 32.37%
Short Float 16.45%
Short Interest Ratio 1.6
Quarterly Return 40.11%
YTD Return 22.77%
Year Return -19.22%

Calithera Biosciences (Nasdaq: CALA) Shares Jump on Incyte Deal

Calithera Biosciences, Inc. – Nasdaq: CALA

News of a global collaboration and licensing agreement between Incyte Corporation (Nasdaq: INCY) and Calithera Biosciences (Nasdaq: CALA) has sent the latter’s shares up over 30% in pre-market trading on moderate volumes. Terms of the deal gives Calithera a $45 million payment and an $8 million equity investment in exchange for Incyte gaining global rights to Caslithera’s CB-1158. Additionally, both companies will fund development of CB-1158 while Calithera will be eligible to share in U.S. profits.

Incyte Corporation develops proprietary therapeutics in oncology in the United States and internationally. Calithera Biosciences, Inc. is a clinical-stage biopharmaceutical company that develops treatments utilizing small molecule drugs directed against tumor metabolism and tumor immunology targets for the treatment of cancer in the United States.

Calithera Biosciences has no reported sales. CALA EPS has been negative since 2012 and lost $1.81 in 2015. Two firms follow Calithera and rate CALA as a “Strong Buy” with a consensus price target of $9.  

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.

1/30/2017
Ticker Symbol CALA
Last Price a/o 8:55 AM EST  $                      6.00
Average Volume 300,180
Market Cap 95.4 million
Sales
Shares Outstanding 20.74 million
Share Float 20.29 million
Shortable Yes
Optionable Yes
Inside Ownership 0.40%
Short Float 4.60%
Short Interest Ratio 3.11
Quarterly Return 100.00%
YTD Return 41.54%
Year Return -6.88%

Pacira Pharmaceuticals Inc. (Nasdaq: PCRX) Signs Agreement with Depuy Synthes

Pacira Pharmaceuticals, Inc. – Nasdaq: PCRX 

Shares of Pacira Pharmaceuticals, Inc. are up over 5% on news that the company announced an exclusive agreement in the U.S. between DePuy Synthes Sales, Inc. and Pacira Pharmaceuticals Inc. to co-promote Exparel, a long-lasting, non-opioid, local analgesic administered at the orthopaedic surgical site. Pacira Pharmaceuticals trades on the Nasdaq under ticker symbol PCRX.

The agreement allows DePuy Synthes to promote Exparel across its joint reconstruction, spine, sports medicine, and trauma businesses to help with postsurgical patient pain. This will further enhance the company’s portfolio and reach in the operating room while also helping hospital customers better achieve their Triple Aim goals of improving clinical outcomes, reducing costs, and enhancing patient satisfaction. 

In 2015 PCRX enjoyed its first positive EPS ($0.05) in the past five years. Sales have been steadily improving for Pacira. In 2011 reported sales were $15.7 million and in 2015 that figure rose to $249 million.  

Twelve firms follow Pacira Pharmaceuticals. Seven rate PCRS shares as a “Strong Buy” while five rate them as a “Hold”. The consensus price target for PCRX is $44.

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.

1/25/2017
Ticker Symbol PCRX
Last Price a/o 8:44 AM EST  $                    41.00
Average Volume 1.08 million
Market Cap $1.49 Billion
Sales $272.8 million
Shares Outstanding 38.19 million
Share Float 37.23 million
Shortable Yes
Optionable Yes
Inside Ownership 0.20%
Short Float 11.20%
Short Interest Ratio 3.88
Quarterly Return 15.92%
YTD Return 20.59%
Year Return -40.37%

Global Ocean Group (Nasdaq: GOGL) Shares Continue Climb

Golden Ocean Group Ltd. – Nasdaq: GOGL

Golden Ocean Group Ltd. has been up over 7% on large volumes. Traded on the Nasdaq under ticker symbol GOGL, shares reached $6.00 on double the daily average volume. Investors may be reacting to continued upgrades announced by Global Ocean Group in their financial guidance.

Golden Ocean Group Ltd. (GOGL) is an international dry bulk shipping company based in Bermuda, mainly operating in the Capesize, Panamax, and Supramax segments. GOGL is listed on Nasdaq and the Oslo Stock Exchange. Global Ocean Group owns and controls a fleet of 70 vessels chartered in on long term time charter contracts.

Golden Ocean Group sales have increased year-on-year since 2012 when it reported sales at $37.5 million – in 2015 reported sales were $190.2 million. GOGL shares have not been as impressive. EPS for GOGL was $1.20 in 2012 but the company reported a loss of $7.30 for GOGL in 2015. Currently GOGL is trading above the analysts’ consensus price target of $4.25. Three firms follow Global Ocean Group and one rates GOGL as a “Strong Buy” while the other two rate GOGL shares 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.

Kornit Digital Ltd. (KRNT) 7 Million Shares Offered

Kornit Digital Ltd. – Nasdaq: KRNT

3D printer manufacturer Kornit Digital Ltd. today announced the launch of a public offering of an additional 7,000,000 ordinary shares. The Israeli-based firm will trade on the Nasdaq under ticker symbol KRNT.

Kornit Digital develops, manufactures and markets industrial and commercial printing solutions for the garment, apparel, and textile industries. Kornit Digital serves the digital textile printing industry with its NeoPigmentTM process including an integrated pretreatment solution, Kornit Digital caters to the needs of both designers and manufacturers. Kornit claims to be the only company to provide a complete digital printing solution, from start to finish.

2,000,000 of the shares are being offered by Kornit and 5,000,000 of the shares are being offered by shareholders of the company, substantially all by the company’s largest shareholder, Fortissimo Capital Fund II (Israel) L.P. Kornit and the selling shareholders have also granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares. Kornit intends to use the proceeds from the offering for general corporate purposes. The Company will not receive any of the proceeds from the sale of shares being offered by the selling shareholders.

Kornit Digital Ltd. is followed by four firms. Three rates KRNT shares as a “Strong Buy”. One rates KRNT as a “Buy”. Their consensus price target for KRNT is $18.

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.

1/20/2017
Ticker Symbol KRNT
Last Price a/o 4:00 PM EST  $                    17.75
Average Volume 128,250
Market Cap $542.88 million
Sales $102 million
Shares Outstanding 30.59 million
Share Float 29.44 million
Shortable Yes
Optionable No
Inside Ownership
Short Float 3.10%
Short Interest Ratio 7.12
Quarterly Return 74.02%
YTD Return 40.32%
Year Return 69.86%

IRadimed Corporation (Nasdaq: IRMD) Gives 2017 Guidance – Shares Drop

IRadimed Corporation – Nasdaq: IRMD

IRadimed Corporation shares dropped on heavy volume after the medical appliance manufacturer released financial guidance for 2017. Yesterday shares, traded on the Nasdaq under ticker IRMD, ended the regular session at $12.15 but dropped to a low of $8.86 in early morning trading.

For the first quarter 2017, the Company expects to report revenue of $5.2 million to $5.3 million, GAAP diluted earnings per share of $(0.01) to $(0.02) and non-GAAP diluted earnings per IRMD share of $0.00 to $0.01. The Company also announced that it expects to report revenue of approximately $32.6 million for the full year 2016 and $6.1 million for the fourth quarter 2016.

IRadimed Corporation develops and manufactures the MRI IV Infusion System. The company pioneered the development of the world’s first and best-selling MRI Patient Monitoring System. IRadimed has a combined 60+ years developing innovative MRI patient care products.

Two firms follow IRadimed Corporation. Their analysts rate IRMD as a “Hold” with a consensus price target of $11.50. EPS for IRMD has been positive and increasing from 2012 ($0.10) to 2015 ($0.68). IRadimed Corporation also has increasing reported sales from 2012 ($7.7 million) to 2015 ($31.6 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.

1/18/2017
Ticker Symbol IRMD
Last Price a/o 10:24 PM EST  $                    10.21
Average Volume 67,700
Market Cap $129.64 million
Sales $35.3 million
Shares Outstanding 10.67 million
Share Float 4.48 million
Shortable Yes
Optionable No
Inside Ownership 1.60%
Short Float 23.92%
Short Interest Ratio 11.5
Quarterly Return 28.71%
YTD Return 9.46%
Year Return -41.42%