Market Overview

10 Stocks Moving In Wednesday's Pre-Market Session

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Gainers

Repros Therapeutics Inc (NASDAQ: RPRX) shares rose 56.67 percent to $1.280 in pre-market trading after the company reported that patients receiving 6 and 12 mg doses of Proellex achieved significant reduction in excessive menstrual bleeding, the key symptom of uterine fibroids. The findings were part of a small Phase 2b study.

Pain Therapeutics, Inc. (NASDAQ: PTIE) rose 18.48 percent to $2.50 in pre-market trading on news the FDA had accepted REMOXY’s New Drug Application (NDA) for review, setting a PDUFA date of September 25, 2016.

Arrowhead Pharmaceuticals Inc (NASDAQ: ARWR) shares rose 14.07 percent to $6.00 in pre-market trading as the company announced that ARC-520 presentations will be made at The International Liver Congress™ 2016.

Medivation Inc (NASDAQ: MDVN) shares rose 8.68 percent to $49.70 in pre-market trading driven by a report about a "rebuffed takeover approach" from Sanofi SA (ADR) (NYSE: SNY). Bloomberg reported shortly after the closing bell that Medivation, which focuses on treatments for hard-to-cure cancers, is seeking a higher price than initial proposals have indicated. Other suitors are also considering making an offer, people familiar with the matter said.

CSX Corporation (NASDAQ: CSX) rose 3.24 percent to $25.80 in pre-market trading. CSX reported in-line earnings for its first quarter, but the company missed analysts' sales estimates.

JPMorgan Chase & Co. (NYSE: JPM) shares rose 2.73 percent to $60.95 in pre-market trading after the bank reported better-than-expected earnings for its first quarter on Wednesday.

Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

Losers

Clovis Oncology Inc (NASDAQ: CLVS) shares fell 6.60 percent to $13.30 in pre-market trading after dropping 5.44 percent on Tuesday. JP Morgan downgraded Clovis Oncology from Overweight to Neutral and lowered the price target from $42.00 to $15.00.

Randgold Resources Ltd. (ADR) (NASDAQ: GOLD) shares fell 2.38 percent to $95.64 in pre-market trading after rising 1.80 percent on Tuesday.

Valeant Pharmaceuticals Intl Inc (NYSE: VRX) shares fell 3.53 percent to $30.85 in pre-market trading on a Wall Street Journal report that a creditor, bond fund Centerbridge, notified the company of its intention to call a default.

Tower Semiconductor Ltd. (USA) (NASDAQ: TSEM) shares fell 3.19 percent to $9.42 in pre-market trading after declining 1.83 percent on Tuesday.

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