Small
cap stocks making big moves on Thursday, May 8, 2014 (as of 4 pm EST)
Chelsea Therapeutics International, Ltd. (NASDAQ: CHTP)
shares powered 32% higher to $6.58 on volume of more than 66.7 million shares
Thursday after Danish pharmaceutical company H. Lundbeck agreed to acquire the
biopharmaceutical development company for $6.44 per share in cash as well as
contingent value rights (CVRs) that may pay up to $1.50 per share, in a deal
that could be worth as much as $658 million. The agreement would give Lundbeck
the rights to the neurology drug Northera.
As well,
shares of PowerSecure International,
Inc. (NYSE:
POWR) plummeted 62% to $7 on more than 10.4 million shares traded as a
least three brokerage firms downgraded the company’s stock following the release
of its first-quarter financial results.
Ampio Pharmaceuticals Inc.’s (NYSE MKT:
AMPE) stock, meanwhile, moved up 12% to $6.50 after Citigroup initiated
coverage of the company with a ‘Buy’ rating on its shares and a target price of
$21.
Finally,
Millennial Media, Inc. (NYSE: MM)
shares sank 37% to $3.36 as the independent mobile advertising platform company
missed analysts’ first quarter revenue estimates and provided second quarter
revenue guidance that was well below the Wall Street consensus forecast.
