4 Companies That Beat Friday the 13th

Print Email

Friday the 13th is known as an incredibly unlucky day, but looking at the broad markets, that doesn’t seem to be the case. In particular, a few companies made absolutely massive runs that some might consider lucky.

24/7 Wall St. has picked some of the biggest winners on the day that stood out from the rest. Also we have provided some color as well as a recent trading history and the consensus analyst price target.

On Thursday, Transgenomic Inc. (NASDAQ: TBIO) announced a licensing agreement with Canadian-based LifeLabs, which has selected Transgenomic’s ICE COLD-PCR (ICP) technology as its mutation enrichment platform for cancer testing. The three-year, renewable agreement includes a nonexclusive license to the ICP technology in Canada.

Separately, Transgenomic also announced issuance of a new Canadian patent for ICP. And the three-year renewable agreement also allows LifeLabs to benefit from technology improvements and additional product launches during its term.

Shares of Transgenomic were trading up 36% at $1.53 on Friday, with a $7.00 consensus analyst price target and a 52-week range of $0.15 to $1.59.

DexCom Inc. (NASDAQ: DXCM) reported the determination of a benefit category and coverage for continuous glucose monitoring (CGM) by the Centers for Medicare & Medicaid Services (CMS). In order to be included in this category, the system must be defined as “therapeutic” CGM, meaning that treatment decisions can be made using the device.

Ultimately, the CMS ruling will make this diabetes management technology available for the Medicare population in the coming months, which is a nice government contract for DexCom. Its shares were up 23% at $83.46, in a 52-week trading range of $47.92 to $96.38. The consensus price target is $81.88.

Telenav Inc. (NASDAQ: TNAV) announced that it has entered into a settlement and license agreement with Vehicle IP resolving its patent infringement lawsuit brought against Telenav and its customer, AT&T Mobility. The one-time settlement and license payment of $8 million to be made by Telenav will have a material impact on Telenav’s fiscal second-quarter financial results for the period ended December 31, 2016. Keep in mind that Telenav has a $356 million market cap.

The company will not have any continuing obligations to make future settlement or license payments to Vehicle IP. The case is expected to be dismissed promptly with respect to Telenav and AT&T Mobility. Telenav updated its guidance to reflect this. The company now expects net loss to be in the range of $0.28 to $0.30 per share, versus the previous guidance of $0.23 to $0.26. Total revenue is expected to be $51 million to $52 million, compared with the previous guidance of $46 million to $49 million. Thomson Reuters consensus estimates call= for a net loss of $0.18 per share and $47.19 million in revenue.

Shares of Telenav were last seen up 18% at $8.30. The consensus price target is $10.90. The 52-week range is $4.47 to $8.70.

After reporting that it has entered into a Letter of Intent for a proposed merger with Bendon, Naked Brand Group Inc. (NASDAQ: NAKD) said expected benefits of this proposed merger include:

Bendon would gain immediate access to the U.S. capital markets enabling it to further grow the business globally, both organically and through future strategic acquisitions;

The Naked brand would be able to leverage Bendon’s well-established global wholesale and retail distribution channels;

The combined entity would capitalize on the industry-leading expertise of Carole Hochman, Naked’s Chief Executive Officer, to strengthen its global intimate apparel and sleepwear brand portfolio; and
Operating synergies through integrated supply chain management and administrative functions.

For the fiscal year ended 2016, Bendon generated roughly $100 million in net sales. Note that Naked Brand only has a market cap of just under $16 million, after the stock doubled. Shares were up over 100% at $2.09 on Friday, with a 52-week trading range of $0.82 to $3.68.