Small Cap Gainers: ISEE, ECHO, ENDP
2:49 pm Friday, September 10th, 2021
IVERIC bio Inc (NASDAQ: ISEE) spikes to multi-year highs on heavy volume; strength has been tied to peer Apellis Pharmaceuticals’ (APLS) report of mixed top-line results from its Phase 3 DERBY and OAKS studies in geographic atrophy, an indication that co also targets through several therapeutics programs, including with Zimura. Initiated with a Buy and a $22 price target at Stifel.
Echo Global Logistics, Inc. (NASDAQ: ECHO): Agreed to be acquired and taken private by private equity firm The Jordan Company for an equity value of approx. $1.3 bln; co’s shareholders will received $48.25/share in cash under the terms of the agreement. At all-time highs.
Endo International PLC (NASDAQ: ENDP) and its subsidiaries announced the settlement of three consolidated cases pending in Suffolk County Supreme Court in New York pertaining to opioids. As a result of the settlement, co’s subsidiaries have been severed from the trial; the settlement fully and finally resolves all of the asserted claims in exchange for a total payment of $50 mln. Co is focused on its primary goal of achieving a global settlement and is currently exploring other strategic alternatives.
