Infinity Pharma RESTRUCTURES Alliance with Mundipharma and 4 Stocks Hiting 52-Week Highs
Athenahealth (NASDAQ:ATHN) advances and Quality Systems (NASDAQ:QSII) sinks after Athena won a deal to provide business services to hospital operator Health Management Associates (NYSE:HMA). Beneath the deal, Athena is to deliver business services to over 1,200 medical groups, replacing the services which Quality Systems have been providing according to Piper Jaffray. The firm raised its price target for Athenahealth to $87 from $80 and reiterated an Neutral rating. In early afternoon trading, athenahealth increased 7.21 percent to $84.87 and Quality Systems fell 8.29 percent to $23.86. The shares closed at $88.38, up $9.22 or 11.65% on the day. They have traded in a 52-week range of $40.79 to $87.16.
Cardinal Financial (NASDAQ:CFNL) has reported a tangible book value of $8.62 per common share, and reports it Tier 1 risk-based capital at 11.74 percent. The shares closed at $13.00, up $0.32 or 2.52% on the day. They have traded in a 52-week range of $8.10 to $13.00.
Community Trust Banc (NASDAQ:CTBI) has reported allowances to loan loss reserves of $2.4 million, and net loan charge-offs for the quarter totaled $2.5 million. The shares closed at $34.93, up $0.57 or 1.66% on the day. They have traded in a 52-week range of $ to $.
FX Alliance Inc. (FX): Thomas Reuters (NYSE:TRI) commences, via its indirect wholly-owned subsidiary CB Transaction Corp, as cash tender offer for the purchase of all outstanding shares of common stock of FX Alliance Inc., or FXall. On July 9, Thomas Reuters revealed its intention to acquire FXall. When the tender offer closes successfully, FX stockholders will get $22.00 in cash for each FXall common share which is validly tendered and not validly withdrawn in the offer, with no interest and less any applicable withholding taxes. As stated previously, Technology Crossover Ventures, FXall’s largest shareholder, Chairman and CEO Phil Weisberg and CFO John Cooley, who together own nearly 32.5 percent of FXall’s outstanding shares, intend to tender their shares into the offer. The shares closed at $22.49, up $0.2 or 0.9% on the day. They have traded in a 52-week range of $13.00 to $22.34.
Infinity Pharmaceuti (NASDAQ:INFI) announced its restructuring and strategic alliance with Mundipharma International Corporation Limited and Purdue Pharmaceutical Products L.P via mutual agreement. With the restructuring, Infinity regains rights worldwide for its phosphoinositide-3-kinase program, its fatty acid amide hydrolase program, an its early discovery programs. IPI-145, the company’s potent, oral inhibitor of PI3K-delta and -gamma, is currently moving forward in a Phase 1 trial for patients suffering from advanced hematologic malignancies. The shares closed at $16.39, up $1.7 or 11.57% on the day. They have traded in a 52-week range of $5.50 to $16.44.
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