Zealand Pharma (ZEAL.CO) stock skyrockets on positive results from a liver disease treatment trial.
JPMorgan analysts upgrade retailer The Gap (GPS) to Neutral, raising the price target to $20.
Pet food company Freshpet (FRPT) sees its stock jump after beating fourth-quarter earnings estimates and issuing strong sales guidance.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
BRAD SMITH: We're about 30 minutes into the trading day. Let's take a look at how things are shaping up. Stocks muted this morning as investors await new inflation data in the coming days. And that's going to test the staying power of the breakout rally that followed NVIDIA's results. You're taking a look at the S&P 500 on your screen. Flat, just barely to the upside right now.
Let's also get to some individual movers that we're watching here this morning. Shares of Danish pharmaceutical company Zealand Pharma surging this morning, as the company reported strong results from a trial of its liver disease treatment that has been touted as a potential competitor in the weight loss drug market. The drug has received fast track designation from the US Food and Drug Administration.
And Gap moving higher this morning, just up about, well, 2.7%, after JP Morgan upgraded the apparel retailer from underweight to neutral. The analysts behind that call also raising its price target on Gap from $16 to $20. In the note, JP Morgan highlights Old Navy's operations and improvements in its inventory levels.
And Freshpet shares surging after beating expectations for revenue and profit in its fourth quarter. The pet food maker also issuing a strong guidance as it sees a surge in volumes, that's thanks in part to higher media spend.
