Shopify, Sirius XM, Evoke Pharma Stocks Moving Today

Shopify, Sirius XM, and Evoke Pharma stocks are some of the top gainers today on Wall Street

by Josh Selway

Published on Feb 15, 2017 at 1:32 PM

U.S. stocks are once again hitting record highs today. Among specific equities in focus are e-commerce specialist Shopify Inc (NYSE:SHOP), satellite radio provider Sirius XM Holdings Inc. (NASDAQ:SIRI), and drug stock Evoke Pharma Inc (NASDAQ:EVOK). Here's a quick look at what's moving shares of SHOP, SIRI, and EVOK.

Wall Street Cheers Shopify Forecast

SHOP is barreling to new highs, following the company's impressive fourth-quarter earnings report, and upwardly revised full-year forecast. At last check, the shares were up 5.3% at $59.01, after touching a record peak of $60.05 earlier. Shopify Inc has nearly tripled in value over the past 12 months, with rumors of an Amazon partnership sparking a sharp upside move last month. In the meantime, put buying has nearly tripled call buying during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Elsewhere, Canaccord Genuity just lifted its price target to $68 from $52.

Berkshire Stake Sends Sirius XM to New Highs

SIRI is one of a number of stocks on the move due to recent SEC filings, with the stock adding 2.8% to trade at $4.88, on news Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK.A) purchased nearly 167 million shares. For the most part, Sirius XM Holdings Inc. has been grinding higher since early 2009, and touched a more than 10-year high of $4.90 earlier. Interestingly, it seems a number of options traders were betting on an upside move, as nearly 10,600 calls were bought to open across the ISE, CBOE, and PHLX during the past two weeks, compared to just 249 puts. 

FDA Nod Sparks Evoke Pharma Rally

EVOK is surging, after the Food and Drug Administration (FDA) exempted the company's nasal spray, Gimoti, from a human factors validation study. The company now plans to submit a marketing application by the end of the year. As for the stock, it was last seen up 40% at $3.65, on pace for its first close atop the 200-day moving average since July. Of course, this is terrible news for Evoke Pharma Inc short sellers, who control 16.5% of the stock's float. 

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