Tuesday, September 25, 2012

Peregrine Pharmaceuticals Rebounded Sharply (PPHM, ROSG, UDRL, NFLX, AEZS)

Peregrine Pharmaceuticals(NASDAQ:PPHM) shares climbed 16.37% to $1.35 following a 80% fall in yesterday’s session after the company announced that Attorney Advertising, Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Peregrine Pharmaceuticals, Inc., concerning potential violations of federal securities laws. The discrepancy was made while reviewing trial data in preparation for a meeting with the U.S. Food and Drug Administration.

Has PPHM Found The Bottom and Ready To Move Up? Find out Here

Rosetta Genomics Ltd. (USA)(NASDAQ:ROSG) stock gained 10.78% to $7.50. The company announced that Kenneth A. Berlin, President and Chief Executive Officer of Rosetta Genomics, will present a corporate update at the 2012 Aegis Healthcare Conference taking place from September 27-29, 2012 at The Wynn in Las Vegas, Nevada. Mr. Berlin's presentation will take place on Saturday, September 29th at 10:00 a.m. Pacific time.

Will ROSG Continue To Move Higher? Get Free Trend Analysis Here

Union Drilling, Inc.(NASDAQ:UDRL) shares climbed 5.68% to $6.48 after UDRL and Sidewinder Drilling Inc. have entered into a definitive agreement and plan of merger pursuant to which Sidewinder will acquire all of the outstanding shares of Union Drilling common stock in an all-cash tender offer valued at approximately $242 million. Under the terms of the agreement and plan of merger, which has been unanimously approved by Union Drilling's Board of Directors, Sidewinder's acquisition subsidiary, Fastball Acquisition, Inc., will commence a cash tender offer to purchase all of the outstanding shares of Union Drilling for $6.50 per share.

Netflix, Inc.(NASDAQ:NFLX) shares fell 1.03% to $55.80 after Cantor Fitzgerald initiated coverage on shares of Netflix in a research note released last week. The firm issued a buy rating and a $70.00 price target on the stock. Separately, Analysts at Macquarie initiated coverage on shares of Netflix in a research note to investors on September 17. They set an underperform rating and a $50.00 price target on the stock.

AEterna Zentaris Inc. (USA)(NASDAQ:AEZS) shares increased 3.86% to $0.803 after the company said the European Patent Office, granted patent for the use of its product, AEZS-130, a ghrelin agonist in connection to methods and kits for use in the diagnosis of growth hormone deficiency in Europe, effective September 19, 2012. The company said the patent would expire on February 19, 2027.

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