Trader’s Buzz: Ebix (EBIX), NeuroDerm (NDRM), Tonix Pharmaceuticals (TNXP), Yelp (YELP)

Ebix Inc. (EBIX) shares are up nearly 14% in Tuesday trades after the company announced resolution with the IRS with respect to its previously disclosed audit of income tax returns for the taxable years 2008 through 2012. Ebix said the assessment relates solely to non-recurring issues associated with certain acquisitions occurring during the audit period. Ebix also said it expects the assessment to result in an approximately ($1.4) million impact on net income for Q4 of 2014. The audit has no effect on any positions that the Company has taken in any future years.

EBIX shares recently gained $2.23 to $18.51. In the past 52 weeks, shares of Atlanta, Georgia-based company have traded between a low of $12.12 and a high of $19.49. Shares are up 14.97% year-over-year.

NeuroDerm Ltd. (NDRM) had its price target raised to $19 from $18 by Oppenheimer in a research note issued on Tuesday. The equity research firm said it raised the name’s price target reflecting an incrementally higher chance of success for ND0612H based on last week’s data, which suggested that the high dose version, ND0612H, intended for severe Parkinson’s disease patients, may provide an effective therapy alternative to current treatments requiring surgery.

Shares of NeuroDerm, which IPO-d in November, gained 17% to $16.18 in recent trading. The stock is up 104% on the month.

Shares of Tonix Pharmaceuticals Holding Corp (TNXP) are higher by nearly 26% to $7.37 in midday trading on Tuesday, as the stock continues to see gains following news that the company has received written guidance from the FDA on its Phase 3 clinical study design for TNX-102 SL in fibromyalgia.

“Getting this confirmation from the FDA — particularly its acceptance of the 30 percent responder analysis as the primary outcome measure — represents a clear step forward in our ongoing development of TNX-102 SL in fibromyalgia,” said Seth Lederman, M.D., president and CEOof Tonix.

Tonix Pharmaceuticals is a New York-based development stage specialty pharmaceutical firm which focuses on the identification and development of pharmaceutical products for the disorders of central nervous system. Its stock has a median consensus analyst price target of $12 with a high target of $14, and a 52-week trading range of $5.33 to $21.

Shares of Tonix have plunged 44.12% year-over-year.

Yelp, Inc. (YELP) shares are down more than 2 percent from Monday’s close following speculation that the company may be acquired by search giant Google (GOOG), (GOOGL).

Rumors of the popular social review site being acquired are not new. Google tried to buy Yelp in 2009, but Yelp turned down its offer. In October 2014, the same rumor of a Google acquisition surfaced. In September, both TripAdvisor Inc (TRIP) and Yahoo! Inc. (YHOO) were also rumored as potential buyers of the company.

Shares of Yelp fell $1.09 to $51.42 in recent trading.

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