Amarin Corporation plc (AMRN) shares spiked 70% this morning after the company released Phase 3 Anchor study results yielding positive findings for its medicinal-grade omega-3 drug. According to a press release by AMRN, the late-stage study indicated that “Triglyceride levels decreased 21.5% and 10.1% from baseline versus placebo at 4 gram and 2 gram doses, respectively while LDL-C decreased at both doses within the predefined non-inferiority boundary with a statistically significant 6.2% decrease in LDL-C from baseline versus placebo at 4 gram dose.” Shares of AMRN are currently up more than $6.50, or 73%, to $15.26. Volume has exploded with nearly 30 million shares already trading hands compared to a daily average volume of 1.9 million shares.
A123 Systems Inc. (AONE) rallied 10 percent to $6.07 at the start of trading Monday after the lithium-ion battery maker was upgraded to “Buy” from “Neutral” by Goldman Sachs (GS), which gave it a price target of $9 a share. Meanwhile, equities research analysts at Canaccord Genuity raised their AMRN target to $18 from $11. Volume has exploded with 7 million AONE shares already trading hands compared to a daily average volume of 2.4 million shares.
Identive Group’s (INVE) shares gained 14% after the developer of identity-management software announced that it has received its first orders for 10,000 eHealth terminals to support the relaunch of the electronic health card program in Germany. Shares of Identive are trading up 12.20% as of 11:33 am EDT, hitting $3.77 after printing the tape earlier as high as $4.15. Ticker has a 52 week low of $1.29 and a 52 week high of $5.90. Volume has exploded with more than 4 million shares already trading hands compared to a daily average volume of 1.1 million shares.
Chelsea Therapeutics International Ltd. (CHTP) shares climbed 25% to $5.05, the second-most in the R2K Index. The biotech company said that following a comprehensive pre-NDA meeting with the U.S. Food and Drug Administration in December 2010 and subsequent communication, it plans to file a new drug application for its Northera treatment for neurogenic orthostatic hypotension during Q3. Volume has exploded with more than 2.2 million CHTP shares already trading hands compared to a daily average volume of just 585,000 shares.
Titan Machinery, Inc. (TITN) surged nearly 17 percent to $31.47 after the company, which owns and operates networks of full service agricultural and construction equipment stores, reported q4 earnings of $0.57 a share, topping the $0.36 average estimate by the Street. Titan said it expects a profit of $1.50-$1.60 per share and revenue of $1.28-$1.35 billion for the full FY ending Jan. 31, 2012. Volume: 1.2 million as of 12:10 pm EDT vs a daily average volume of just 197,000 shares.
Thoratec Corp. (THOR) rallied 15 percent to $32.00 after the maker of implantable heart devices was upgraded to “Outperform” from “Market Perform” at Leerink Swann & Co., which cited market growth for the company’s HeartMate II destination therapy. Thoratec Corp. was also upgraded to “Buy” at Lazard with a pps target of $34.