Seagen [SGEN] - Last Close: $161.37
Seagen is creeping higher on reports of a potential acquisition.
According to a Wall Street Journal exclusive, Pfizer [PFE] is in early-stage talks to acquire the cancer-focused biotechnology company.
The story cited "people familiar with the matter" and said there's no guarantee that the early-stage talks will result in a deal.
Market-watchers say the deal would help Pfizer bolster its cancer drug portfolio.
No word on a potential price, but Seagen was considering a deal with Merck & Co [MRK] that valued the company at upwards of $40 billion.
SGEN is up 14.0% on the acquisition rumors.
My Take: This could be a "buy the rumor" opportunity. SGEN is a solid company, so the downside risk could be limited even if a deal doesn't materialize. If there is a deal, there still could be upside from the current price point.
Broadmark Capital [BRMK] - Last Close: $4.19
Reports of an acquisition deal are boosting shares of Broadmark Capital.
The commercial real estate finance firm has agreed to be acquired by Ready Capital Corp. [RC] in an all-stock deal.
Under the terms of the deal, Ready Capital will absorb Broadmark, and each share of BRMK will be converted into 0.47233 shares of RC.
Upon closing, Ready Capital is expected to have a pro forma equity base of $2.8 billion.
News of the definitive merger agreement sent BRMK to a 20.1% gain in today's premarket.
My Take: This is a nice pop for shareholders, but I don't see a reason to tangle with this trade. After all, if you really want to own RC, you can just buy it.
Lucira Health [LHDC] - Last Close: $0.74
News of an FDA approval is skyrocketing shares of Lucira Health.
The MedTech company said the US Food & Drug Administration has approved its over-the-counter dual-purpose test for influenza and COVID-19.
Lucira's test can detact Influenza A and B, plus SARS-CoV-2, the virus which causes COVID-19, FDA officials said in a Friday news release.
It's the first FDA-approved at-home test for flu and a major breakthrough for Lucira Health.
Lucira says it will announce a price point at a later date.
Shares of LHDC are up 221.4% since the news broke, and it's this morning's most active stock.
My Take: Talk about a comeback! LHDC has had a rough run over the past few months, but this breakthrough could help it stage a major rebound.
