Wednesday’s Midday Stock Update: Merrimack Pharmaceuticals (MACK), Rite Aid Corp (RAD), Novavax (NVAX), La Jolla Pharma (LJPC), Zogenix (ZGNX)

By Carrie Williams

So far Wednesday, September 11, NASDAQ is up 2.75% and the S&P is up 1.33%. Here are this morning’s most active stocks: Merrimack Pharmaceuticals (MACKResearch Report), Rite Aid Corp (RADResearch Report), Novavax (NVAXResearch Report), La Jolla Pharma (LJPCResearch Report) and Zogenix (ZGNXResearch Report).

Merrimack Pharmaceuticals is up 11.01% in midday trading to $6.05. Shares opened today at $5.45. The company has a 52-week low of $3.34 and a 52-week high of $7.50. Over the last 3 months, the insider sentiment on Merrimack Pharmaceuticals has been positive based on 6 corporate insider transactions. This sentiment is slightly higher than the average sector sentiment of insiders.

Rite Aid Corp is up 7.1% in midday trading to $9.67. Shares opened today at $9.03. The company has a 52-week low of $5.04 and a 52-week high of $27.20. In the last 30 days, insiders have sold $13.83K worth of RAD shares.

Novavax is up 6.51% in midday trading to $5.65. Shares opened today at $5.30. The company has a 52-week low of $4.01 and a 52-week high of $51.60. On the Street’s front, the average 12-month analyst price target for the stock is $26.88, marking a 407.17% potential upside from current levels. In a report released yesterday, Oppenheimer analyst Kevin DeGeeter reiterated a Buy rating on NVAX, with a price target of $13, which implies an upside of 145% from current levels. In the last 30 days, insiders purchased $32.4K worth of NVAX shares.

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La Jolla Pharma is up 6.32% in midday trading to $11.10. Shares opened today at $10.44. The company has a 52-week low of $5.01 and a 52-week high of $22.72. On the Street’s front, the average 12-month analyst price target for the stock is $24.00, marking a 129.89% potential upside from current levels. In a report issued on August 29, H.C. Wainwright analyst Edward White maintained a Buy rating on LJPC, with a price target of $27, which implies an upside of 159% from current levels.

Zogenix is up 5.78% in midday trading to $42.62. Shares opened today at $40.29. The company has a 52-week low of $33.43 and a 52-week high of $56.50. On the Street’s front, the average 12-month analyst price target for the stock is $64.00, marking a 58.85% potential upside from current levels. In a report issued on September 5, Mizuho analyst Difei Yang reiterated a Buy rating on ZGNX, with a price target of $65, which represents a potential upside of 61% from where the stock is currently trading. In the last 30 days, insiders have sold $159.1K worth of ZGNX shares.

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