Diamonds and Dogs
9/16/13Perion Network Ltd. (PERI)
Perion Network traded in the red today, down 10.86% at $11.74. The consumer internet company saw its shares fall after investors were disappointed by the lack of premium in the merger with toolbar-developer Conduit Ltd.'s Client Connect business. Conduit shareholders will get 81 percent of the newly merged company while Perion shareholders will hold only 19 percent. Perion shares fell the most they have in three years, losing nearly $1.50 per share; however shares are still well above their 52-week low of $6.22.
Omeros Corporation (OMER)
Omeros Corporation skyrocketed today, up 68.17% at $8.56. The biopharmaceutical company saw its shares jump after news of an increased price target. Wedbush raised Omeros' price target to $28 from $18 following a conversation with a high-volume cataract surgeon on OMS302's potential use and the changing regulatory environment. The analyst believes increased costs for topical solutions and pressure from the FDA could result in increased use of OMS302 after expected FDA approval in the U.S. Shares of Omeros jumped nearly $3.50 today but are still below their 52-week high of $11.85.