Neurocrine Biosciences Inc. (NBIX) is trading at an unusually high volume Thursday with 6.2 million shares changing hands. It is currently at more than 6x its 3-month average volume of 716K shares. NBIX gained nearly 20% in midday trading after in cooperation with AbbVie (ABBV) announced positive top-line results from the first of two ongoing Phase 3 clinical trials of elagolix in premenopausal women with endometriosis.
NBIX shares recently gained $4.26 to $26.14. The stock is up more than 18.21% year-over-year and has lost roughly 2.06% year-to-date. In the past 52 weeks, shares of San Diego, Calif.-based company have traded between a low of $12.17 and a high of $29.21.
Neurocrine Biosciences has a total market cap of $1.99B.
Shares of Pacific Sunwear of California Inc. (PSUN) are up 20% after the name was raised to ‘Buy’ and it was given a $3.50 price target at Janney on Thursday. The research firm wrote they believe management’s strategy is resonating across marketing, visual merchandising & product. PSUN announced today that Q3’14 net sales were $212.3 million versus net sales of $202.8 million for Q3’13. The company said comparable store net sales during the month of December increased 9% compared to the same period a year ago. The company also updated its Q4 financial outlook, saying it now expects comparable store net sales of approximately 6% and non-GAAP loss from continuing operations per diluted share to be in the range of ($0.12) to ($0.11), compared to its previous guidance range of ($0.17) to ($0.12).
PSUN shares recently gained $0.42 to $2.71. The stock is down more than 36% year-over-year and has gained roughly 5% year-to-date.
Impax Laboratories Inc. (IPXL) shares rose 13% at $35 and change in midday trading after the company said the U.S. Food and Drug Administration had approved Rytary, its drug for treating Parkinson’s disease.
“The FDA approval of RYTARY (pronounced rye-TAR-ee) is an important new development for the treatment of Parkinson’s disease and provides an extended-release carbidopa-levodopa product that treats Parkinson’s disease,” said Fred Wilkinson, president and CEO, Impax Laboratories. “RYTARY is designed to address one of the most significant unmet needs for patients living with Parkinson’s disease, which is to reduce the amount of time during the day when their symptoms are not adequately controlled.”
Impax said it expected Rytary to be available for commercial distribution in February.
Apple (AAPL) – The iPhone maker rose more than 4 points after saying its App Store customers set a billings record in the first week of January, with customers spending nearly a half-billion dollars on apps and in-app purchases in the seven-day span. Apple also said New Year’s Day 2015 marked the single biggest day ever in App Store sales history. These milestones follow a record-breaking 2014, in which billings rose 50 percent and apps generated over $10 billion in revenue for devs. To date, App Store developers have earned a cumulative $25 billion from the sale of apps and games.
“This year is off to a tremendous start after a record-breaking year for the App Store and our developer community,” said Eddy Cue, Apple’s senior vice president of Internet Software and Services. “We’re so proud of the creativity and innovation developers bring to the apps they create for iOS users and that the developer community has now earned over $25 billion.”
In other Apple news today, Carl Icahn will appear on Fast Money tonight. This should be interesting as Icahn’s appearances always generate plenty of rumor activity. Some ticker to watch include Apple (AAPL), Twitter, Inc. (TWTR), The Manitowoc Company (MTW), Navistar Int’l Corp. (NAV) and eBay Inc (EBAY).
Apple stock is up 3.97% Thursday afternoon. Apple shares are up more than 44% YoY.
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