The markets are showing all major indices pointing to a higher open. Most Asian and European markets are closed for holidays. However, things should remain busy here, as earnings continue to dominate headlines. That said, there are some stocks to trade on May 1, 2017.
We are seeing weakness in the commodities sector, gold, silver, and oil are all trading lower. Most of the early movers today have been in the biotech space. Check out the list of early movers below:
Neurotrope (NASDAQ: NTRP) shares are down nearly 30% in the premarket, after the company announced “positive” top-line results from its Phase 2 study of Bryostatin-1 in patients with moderate to severe Alzheimer’s disease.
However, despite the press release the market is not reacting well to the headline, as several people around the web have pointed out the firm used sketchy statistics.
Adam Feuerstein, from the TheStreet.com, accused the company of spinning a failed drug test.
Check out the chart of NTRP based on Friday’s close:
LendingClub (NYSE: LC) shares are up over 2.5% after the company received an upgrade from Susquehanna. The stock was previously rated neutral, and has now seen its price target raised to $9 from $6. Going into today, LC had 6 buy ratings, 12 holds, and 2 sells.
The company is set to announce earnings after the close on May 4, 2017.
Check out the chart of LC from last Friday:
Aeterna Zentaris (NASDAQ: AEZS) shares are up about 1.5% after the company announced top-line results of the ZoptEC phase 3 clinical study of Zoptrex today.
The company will be holding a conference call at 8:30 AM ET, to discuss it’s latest study results.
Check out the chart of AEZS from Friday:
Intra-Cellular Therapies (NASDAQ: ITCI) shares are down nearly 20% after ITI-007-302 studies by the FDA does not preclude NDA submission.
Here is part of what the company said in a press release:
The FDA has confirmed that the results of Study ITI-007-302 do not preclude us from submitting an NDA based on the efficacy studies we have conducted to date. We are pleased with this response from the FDA and we believe our schizophrenia clinical development program collectively provides evidence of the efficacy and safety of lumateperone for the treatment of schizophrenia.
The FDA has raised questions, however, relating to certain findings observed in nonclinical animal toxicology studies of lumateperone and has requested additional information to confirm that the nonclinical findings are not indicative of a safety risk associated with long term exposure in humans.
Source: Yahoo Finance
Check out the chart below of ITCI based on Friday’s close: