OrthoPediatrics Corp (NASDAQ:KIDS) shares are on the rise after Piper Jaffray raised its price target to US$30 from US$24. The analyst maintained an Overweight rating. The bioscience company develops orthopedic implants and instruments for pediatric issues. The first spine surgery using its Response Spine System was performed in Japan in June. Shares of the Indiana-based company were up nearly 4% to US$28.90.
American Superconductor Corp (NASDAQ:AMSC) shares have fallen to a one-month low. The tech company announced a settlement agreement to resolve commercial disputes with Sinovel Wind Group Co Ltd and will receive a total of US$57.5mln in two installments. The company provides energy solutions to wind and power grid companies. Shares of the Massachusetts-based company fell more than 15% to US$5.98.
Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE) shares sunk after disappointing results from an early-stage trial of ZYN001, its cannabinoid skin patch. The placebo-controlled Phase 1 study found that while there were no serious adverse effects, the patch did not achieve its goal of target THC levels in the blood. The company will shift its focus to ZYN002 Fragile X syndrome, a treatment for epilepsy. Shares of the Pennsylvania-based company fell more than 10% to US$8.59.
Funko Inc (NASDAQ:FNKO) is launching its first cereal line. The bobblehead manufacturer is creating a line of breakfast cereals named after pop culture characters, including Batman, Pennywise, Beetlejuice, Freddy Krueger, Mega Man and others. Some flavors will be exclusive to certain stores, including GameStop, Hot Topic, Bam!, and Box Lunch. The suggested retail price is US$7.99 per box. A miniature Pocket Pop figurine will be included. Shares of the Washington-based company were up nearly 4% to US$13.94.
The Russell 2000 small-cap index was up slightly in Thursday morning trading.
Contact Lenore Fedow at [email protected]