Fly News Breaks for October 8, 2019
Oct 8, 2019 | 05:32 EDT
Piper Jaffray analyst William Quirk lowered his price target for Qiagen to $31 from $36 after the company announced that its long-standing CEO Peer Schatz is resigning, Q3 results are below expectations, and a decision to partner with Illumina on NGS kits, which leads to ending development of its GeneReader system. The analyst believes Qiagen's turnaround will take time and he keeps a Neutral rating on the shares.
News For QGEN From the Last 2 Days
Nov 18, 2019 | 09:10 EST
HIGHER: Qiagen (QGEN), up 3% after announcing late on Friday that the company is exploring potential strategic alternatives following "several conditional, non-binding indications of interest"... NIO Inc, (NIO), up 4% after appointing Wei Feng as CFO... Teekay Tankers (TNK), up 3% after BofA Merrill Lynch analyst Ken Hoexter issued a double-upgrade on shares to Buy from Underperform with a price target of $3, up from $2... Karuna Therapeutics (KRTX), up 72% after KarXT met its primary endpoint in a Phase 2 trial... Yandex (YNDX) up 6% after announcing a $300M share repurchase program. DOWN AFTER EARNINGS: Quidian (QD), down 8%. ALSO LOWER: T-Mobile US (TMUS), down 2% after announcing that Mike Sievert, who is currently President, COO and a director, will assume the CEO role from John Legere after the conclusion of Legere's contract on April 30, 2020... SunPower (SPWR), down 4% after filing to sell 22M shares of common stock... Xerox (XRX) and HP Inc, (HPQ), down 2% and 1%, respectively, after HP announced that its board has unanimously rejected the unsolicited acquisition proposal from Xerox... Ultra Clean (UCTT), down 2% after Stifel analyst Patrick Ho downgraded the stock to Hold from Buy with an unchanged price target of $21. The analyst says the downgrade is "based entirely on valuation".