Small Cap Stocks Watchlist: May 30, 2017

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We’re back from a three-day weekend, and U.S. stock futures are relatively flat ahead of the bell. The euro fell against the U.S. dollar, following European Central Bank President Mario Draghi indicated that the eurozone economy would still need support of the central bank’s stimulus program. On the U.S. side, there are some economic indicators traders are focused on today, which include the Personal Income and Outlays at 8:30 AM ET, S&P Corelogic Case-Shiller HPI at 9:00 AM ET and Consumer Confidence at 10:00 AM ET. Personal Income grew by 0.4% month over month, which was inline with the consensus estimate. However, these indicators give a macro view, and we’re more focused on finding potential trade opportunities in specific stocks today. Now, there are some small-cap stocks moving ahead of the bell, and here’s the small cap stocks watchlist for May 30, 2017.

Protagonist Therapeutics Inc (NASDAQ: PTGX) shares are up over 40% during the pre-market session, after the company announced it entered into a worldwide license and collaboration agreement with Janssen Biotech Inc. Protagonist Therapeutics and Janssen Biotech entered into the agreement for the co-development, as well as commercialization of PTG-200, which is Protagonist’s first-in-class, oral peptide IL-23 receptor antagonist for IBD.

Check out PTGX on the daily chart.

small cap stocks

Source: TradingView

If you look at the daily chart above, PTGX is set to gap up above its downtrend line and 20- and 50-day simple moving averages.

Array BioPharma Inc (NASDAQ: ARRY) is up over 7% ahead of the bell, and its move was primarily sparked by Array BioPharma’s and Bristol-Myers Squibb Company’s announcement that the companies entered into a clinical research collaboration in an attempt to investigate the safety, tolerability and efficacy of ARRY’s MEK inhibitor in conjunction with Bristol-Meyers Squibb’s Opdivo, and Opdivo and Yervoy regimen as a potential treatment for metastatic colorectal cancer.

Take a look at ARRY on the daily chart.

Source: TradingView

First Bank (NASDAQ: FRBA) shares are up just over 2%, following an upgrade from Robert W. Baird. Baird upgraded First Bank to Outperform from Neutral, and set the price target at $14. Now, this upgrade was primarily attributed to the minimizing of dilution risk, after the company’s follow-on equity offering.

Check out FRBA on the daily chart.

Source: TradingView

pSivida Corp (NASDAQ: PSDV) shares were up over 3% during the pre-market session, after Rodman & Renshaw initiated pSivida with a Buy rating and a price target of $8. Rodman & Renshaw noted that the company has had a track record of success in the opthamology field. Consequently, the company could continue to develop products for other treatments.

Here’s a look at PSDV on the daily chart.

Source: TradingView

 

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