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Tag: Aimmune Therapeutics Inc

  • Stocks to watch as Market Sentiment Turns Positive Amidst a Drop in Uncertainty

    Stocks to watch as Market Sentiment Turns Positive Amidst a Drop in Uncertainty

    The markets are upbeat this morning with the S&P 500, the Dow and the NASDAQ all in the green. This comes amidst analysts’ projections that the uncertainty that characterized the market since March is easing up. When the COVID-19 lockdowns started, the markets entered into deep uncertainty with corporations suspending their projections for future earnings.

    However, this has since changed. Many companies are now offering favourable projections for the rest of the year. Many of them have also proven to be quite resilient and reported strong earnings over the last quarter. With the lockdowns now easing up in the U.S and worldwide, optimism is high that the economy will rebound.

    The optimism is further enhanced by the fact that biotech companies, and research institutions, working on a COVID-19 vaccine are giving positive pointers to a possible vaccine before the end of the year.

    Treatments are also coming up, and the U.S FDA has already approved the use of plasma in the treatment of COVID-19 citing its high efficiency. In this environment of high optimism in the U.S economy, stocks that have good news around them this morning are gaining exponentially. Some of the biggest stock gainers this morning are:

    Aimmune Therapeutics Inc [NASDAQ: AIMT]

    Aimmune Therapeutics Inc is a top performer this morning and is up by over 160%. This follows news that Nestle had agreed to buy the company in a $2.6 billion deal. Under the deal, Nestle will buy the company at $34.50 per share, representing a premium compared to the stock’s trading price of $12.60 as of Friday’s close.

    In a statement, Nestle stated that Aimmune’s Palforzia is the world’s first and only FDA-approved treatment for peanut reactions in children aged between the ages of four and seventeen. Prior to the takeover, Nestle already owned 26% of Aimmune.

    Transatlantic Petroleum Ltd [NYSE: TAT]

    Transatlantic Petroleum Ltd is another top performer this morning and is up by 33%. This follows the company’s announcement that its shareholders had approved the payment of dividends on the company’s series A preferred common stock.

    The dividends are payable on the 15th of September 2020.  This has triggered optimism in the company’s health and hence the current price rally ahead of the upcoming earnings season.

    Vivopower International PLC [NASDAQ: VVPR]

    Vivopower International PLC is another stock showing lots of potential in early morning trading. After a massive rally on Friday that saw it close the day with gains of 69%, the stock is in the green pre-market. It’s momentum today is price action driven days after the company reported unaudited results showing revenue growth of 12% for the year ending  30th June 2020.

     

  • Aimmune Therapeutics [NASDAQ: AIMT] Signs Definitive Agreement With Nestle

    Aimmune Therapeutics [NASDAQ: AIMT] Signs Definitive Agreement With Nestle

    Aimmune Therapeutics, Inc. [NASDAQ: AIMT] disclosed today it has signed a definitive agreement with a wholly-owned subsidiary of Nestle S.A, Sociétés des Produits Nestlé S.A.  Sociétés des Produits Nestlé S.A to purchase Aimmune for $34.50 per share in an all-cash transaction representing the total equity value of $2.6 billion, as per the agreement.

    All the members of the board of directors of Aimmune were agreed to the agreement. Through this acquisition, both the firms will be able to create a world leader in food allergy prevention and treatment. Aimmune Therapeutics and Nestle S.A both aimed to change the lives of people around the world living with food allergies.

    Aimmune Therapeutic traded up 171.03% at $34.15 during the pre-market trading session after its agreement with Nestle S.A. AIMT had a trading volume of 1.89 million as compared to the average volume of 1.11 million.

    It has earlier closed at $12.60 and up 5.09% during its last trading session of Friday. It has recorded the day low range of $11.82 and a day high range of $12.68.

    In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $10.09 and a high of $37.00. Aimmune moved up 24.88% and moved down -65.95% from its 52-weeks low and high. Focusing on its profitability, its return on assets (ROA) is -92.70%, and return on equity (ROE) is -170.90%.

    Turing our focus on its liquidity, it has a current ratio of 7.50 and its quick ratio is 7.40. Aimmune Therapeutics has a total market capitalization of 784.73 million. It has reported the sales of 0.60 million.

    Until the completion of the transaction, Aimmune will work as an independent firm. Looking at the transaction details, Nestle S.A will start a tender offer to buy all the outstanding shares of AIMT. After the completion of the tender offer, Nestle will start the merger of Aimmune with a subsidiary of SPN.

    PALFORZIA of Aimmune is the first official treatment for peanut allergy. Palforiza is the first health product which has significant sale potential. The deal between Aimmune and SPN is anticipated to conclude in the fourth quarter of 2020.