Shares of Lexicon Pharmaceuticals Inc. (LXRX), 3D Systems Corporation (DDD), Acacia Communication Inc (ACIA), Blackberry (BB) were among market movers on Thursday. We have highlighted below some of the reasons for the price movements.
Lexicon Pharmaceuticals Inc. (LXRX)
On Thursday, shares of Lexicon Pharmaceuticals traded as high as 105% following the company’s announcement that it received FDA regulatory feedback that the result of its SOLOIST and SCORED Phase 3 clinical studies can support a new drug application submission. Its share price jumped from the previous day closing of $3.92 to close Thursday at $8.05 after opening around $4.
3D Systems Corporation (DDD)
Despite no company news to justify its price action, shares of DDD traded higher in Thursday’s session and recorded a 36.21% jump. It opened the day’s trading at $23.50 to close at $32.01.
Meanwhile, 3D Systems stock value skyrocketed more than 100 percent last Thursday after the company announced an impressive revenue outlook for the fourth quarter. The company also reported last week that it has completed the sale of its non-core software businesses, including Cimatron and GibbsCAM, for total proceeds of approx. $64.2 million. (Yahoo Finance)
Acacia Communication Inc (ACIA)
Shares of ACIA skyrocketed more than 30% after reports that it had entered into a new deal to be acquired by Cisco Systems Inc. for $115 per share. As at last week, ACIA was contemplating pulling out of the deal with Cisco not getting regulatory approval in China, but Cisco stated that it had received approval.
ACIA’s share price jumped its previous day closing around $86 to close Thursday’s session at $113.64
Shares of Blackberry rallied about 25% despite the absence of company news. Investors may have been responding to a report published earlier this week that said the company sold some of its patents to Huawei. BB closed previous day’s trading at $7.43, opened Thursday $7.51 to close at $9.11. Meanwhile, its 52 weeks high is $9.62
Eros STX Global Corp. (ESGC)
The company’s shares traded within normal range on Thursday but saw an upward movement in its price from $1.97 opening to close at $2.16 on the day. There was no company news to justify the price action of 10.77% rally.