Why Cerevel Therapeutics Shares Are Trading Higher By Around 15%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
Cerevel Therapeutics Holdings, Inc. (CERE) shares surged approximately 15% in pre-market trading after AbbVie Inc. (ABBV) announced plans to acquire Cerevel for $8.7 billion, or $45 per share in cash. The acquisition is expected to close in mid-2024. Other stocks experienced pre-market movements, with notable gainers including Hempacco Co., Inc. (HPCO), MicroAlgo Inc. (MLGO), and AerSale Corporation (ASLE), and significant losers such as ZyVersa Therapeutics, Inc. (ZVSA), Red Cat Holdings, Inc. (RCAT), and Chewy, Inc. (CHWY).
December 07, 2023 | 12:59 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Cerevel Therapeutics' stock rose by about 15% in pre-market trading due to the acquisition announcement by AbbVie for $45 per share in cash.
The acquisition announcement by a major pharmaceutical company like AbbVie typically leads to a positive short-term impact on the stock price of the acquired company, as it reflects a significant premium over the current trading price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
NEUTRAL IMPACT
AbbVie announced its intention to acquire Cerevel Therapeutics for approximately $8.7 billion, which is expected to close in mid-2024.
While the acquisition news is significant for AbbVie, the impact on its stock price in the short term may be neutral as the market digests the terms of the deal and its long-term benefits.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 80