Shares of Tekmira Pharmaceuticals Corp (TKMR) and Lakeland Industries Inc. (LAKE) rose about 8% and 6%, respectively, in mid-day trading on the Nasdaq. The move is attributed to $5.5 billion in Congressional funding for Ebola being approved.
Tekmira Pharmaceuticals, currently valued at $354.17M, has a median Wall Street price target of $28.50. Approximately 1 million shares changed hands during Wednesday’s trading session compared to the stock’s average daily volume of 3.3 million.
In the past 52 weeks, shares of Canadian drugmaker have traded between a low of $7.17 and a high of $31.48. TKMR currently prints a one year return of about 99.51% and a year-to-date return of around 90.24%.
Tekmira Pharmaceuticals recently traded at $15.25, up 8 percent.
Shares of Linn Co, LLC (LNCO) are down close to 11.50% in mid-day trading Wednesday, after Stifel Nicolas maintained a ‘Buy’ rating on the name but cut its target price to $22 from $33. Stifel said [via Barron’s] the 12-month base case estimate “assumes shares trade in line with LINE units. Our $22 target price on LINE implies an estimated 8.0x FY15E EV/EBITDA multiple. We note that this is in line with the peer average of a forward 7.5x to 9.5x multiple.”
LNCO shares recently lost $1.52 to $11.33. In the past 52 weeks, shares of Houston, Texas-based oil and gas production company have traded between a low of $11.21 and a high of $33.12. Shares are down 53.79% year-over-year and 53.36% year-to-date.
Shares of Allot Communications (ALLT) are nosediving, down 11.18% in mid-day trading Wednesday, after the company was downgraded to ‘Underperform’ from ‘Buy’ by analysts at BofA (BAC).
Analysts at the banking giant also lowered their 12-month base case estimate on the name to $10.50 from $17, citing concerns over co.’s fundamentals due its recent management departures and weak carrier spending.
Allot Communications shares have plunged 40.83% over the past 52 weeks, while the S&P 500 index has gained 15.58% in the same period.
Allot Communications’s shares dropped 1 point to $8.06 in recent trading.
Shares of Tesla Motors (TSLA) slumped 7 points, or 3.20%, to $209.85 in midday trade following a Bloomberg report that said a Chinese technology billionaire is following in the footsteps of Elon Musk in seeking to build electric cars in the world’s largest auto market. Jia Yueting, chairman and founder of Beijing-based Leshi Internet Information & Technology Co. said this week that his company has spent the past year developing an electric car and will seek a license to manufacture them in China.
TSLA has now lost more than 26% since it closed at an all-time high of $286.04 on Sept. 4.