ObsEva [OBSV] - Last Close: $0.1060
Reports of insider buying are driving up shares of ObsEva.
A Form 4 filing from Thursday's aftermarket revealed Director Ernest Loumaye executed a purchase of 4 million shares of OBSV for $440,000.
Following the purchase, Loumaye now has direct control of 6 million shares of the company.
Shares of OBSV turned higher on news of the substantial insider buy, and it's currently leading the premarket with an 86.7% gain on active trading volume.
My Take: This move seems somewhat overdone. Be careful because we could see a pullback in the near future.
Ardelyx [ARDX] - Last Close: $2.89
Ardelyx is rallying after a strong earnings report.
The biopharma firm reported stronger-than-expected earnings and revenues on its fourth-quarter earnings report early this morning.
Ardelyx swung to a profit of $0.06 per share in Q4 after posting a $(0.31) per share loss a year earlier. The figure also topped the Street's $0.01 target.
Revenues grew 4,191% from last year to $44.2 million for the quarter, nearly doubling the Street's $23.2 million estimate.
The strong numbers are rallying shares of ARDX this morning. It's up 18.3% on active trading volume in the premarket.
My Take: Wow, it's not every day that you see a quadruple-digit revenue growth rate. This rally could help ARDX break through a key resistance point at $3.50.
Heritage Insurance Holdings [HRTG] - Last Close: $2.72
Upbeat earnings data is also lifting shares of Heritage Insurance.
The company reported its Q4 results after Thursday's closing bell, and the numbers surpassed analysts' expectations.
Heritage reported earnings of $0.48 per share in Q4, smashing the consensus estimate of a $(0.16) per share loss by 400%.
The company's top-line revenue figure came in at $174.59 million, which also beat analysts' target of $168.32 million by 3.7%.
Shares of HRTG are up 17.6% in response to the upbeat Q4 report.
My Take: HRTG's chart looks promising. Today's rally is on pace to put it above a key resistance point at $3, and it could find new support at that level if it can hold onto its gains through the close.
