Today's stocks to watch in the news include Aerie Pharmaceuticals Inc (AERI), JinkoSolar Holding Co., Ltd. (JKS), and Acacia Research Corp (ACTG)
U.S. stock futures are edging higher with oil, as traders digest a raft of economic data. Meanwhile, among specific equities in focus are drugmaker Aerie Pharmaceuticals Inc (NASDAQ:AERI), alternative energy stock JinkoSolar Holding Co., Ltd. (NYSE:JKS), and patent protector Acacia Research Corp (NASDAQ:ACTG).
- AERI is set to jump 70% out of the gate -- and could take aim at its April 2015 record high of $35.89 -- after the biotech said its eye drug, Roclatan, was successful in a late-stage study. This comes just one week after AERI submitted a marketing application to the U.S. Food and Drug Administration (FDA) for its other eye treatment, Rhopressa. Additionally, the stock received no fewer than four price-target hikes, including one to $50 from $44 at Cantor Fitzgerald, which assigned an 80% chance of marketing approval for both treatments.
The stock had already put in a strong showing on the charts -- nearly doubling since hitting an annual low of $10.82 in late March, based on last night's close at $21.13. This surge could shake some of the weaker bearish hands loose, too. Short interest accounts for a whopping 34% of Aerie Pharmaceuticals Inc's available float, or almost 14 days' worth of pent-up buying demand, at the stock's average pace of trading.
- JKS sank with its sector peers yesterday, settling with a 6.8% loss at $15.56, and notching an annual low of $15.30 along the way. The solar stock looks ready to bounce today, up 1.2% ahead of the bell. Boosting the shares is news JinkoSolar Holding Co., Ltd. has inked a supply deal with Consolidated Edison, Inc. (NYSE:ED). In the options pits, short-term speculators are more put-heavy than usual. Specifically, JKS' top-heavy Schaeffer's put/call open interest ratio (SOIR) of 2.33 ranks in the elevated 76th percentile of its annual range.
- Shares of ACTG are more than 10% higher in electronic trading, after its unit, Cellular Communications Equipment LLC, was awarded $22.1 million in damages in its patent infringement case against Apple Inc. (NASDAQ:AAPL). Heading into today's trading, ACTG stock was already up 41.5% year-to-date, and closed Wednesday at $6.07. Options traders have been especially call-heavy of late. Acacia Research Corp's SOIR of 0.34 -- showing calls nearly tripling puts among options set to expire in the next three months -- sits near the bottom one-third of all readings taken in the past year.
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