Small cap
stocks making big moves on Thursday, January 15, 2014 (as of 4 pm EST), as
reported by Hassan Malik, SmallCapPower.com
Novogen Limited (NASDAQ: NVGN)
shares shot up 16% to $2.43 on Thursday after the biotech company announced
what it called a “breakthrough” discovery in its regenerative medicine program.
The program is a key step forward in the development of drugs that are capable of
stimulating the function of brain tissue stem cells. In addition, the program
recently achieved the first key step into developing a family of new drugs
aimed to treat various brain injuries.
As well,
shares of the mortgage service company, Ocwen
Financial Corp. (NYSE: OCN),
recovered 12% to $7.81 after hedge fund manager Robert Chapman acquired a stake
in the company. Earlier this week, its share price was plummeted after a report
emerged that the state of California was looking to suspend the company’s
mortgage license. However, the share price rebounded after Chapman stated that
the stock has potential to double after the “panic” about the California
situation has subsided.
eHealth, Inc. (NASDAQ: EHTH)
stock, meanwhile, sank 55% to $9.42 after the insurance company warned that it
will report lower than expected results for the fourth quarter. The company
expects to report a loss of 56 cents a share to 47 cents a share for that
period, well below the loss of 11 cents a share analysts expected. The company forecast revenue of $43 million to $45 million for the fourth quarter, compared to
analysts’ estimates of $52.6 million.
