U.S. stocks were higher, with the Dow Jones index gaining around 0.1% on Wednesday.
Shares of Verona Pharma plc (NASDAQ:VRNA) rose sharply during Wednesday's session after Merck announced it will acquire the company in a $10 billion deal.
Merck & Co. agreed on Wednesday to acquire Verona Pharma for $107 per American Depository Share (ADS) for a total transaction value of approximately $10 billion. Each ADS represents eight ordinary shares of Verona Pharma.
Verona Pharma shares jumped 20.6% to $104.81 on Wednesday.
Here are some other big stocks recording gains in today’s session.
- Scage Future (NASDAQ:SCAG) jumped 55.4% to $6.53.
- ProKidney Corp. (NASDAQ:PROK) gained 47.1% to $5.49, continuing its climb of over 500% during regular trading on Tuesday.
- Akso Health Group (NASDAQ:AHG) rose 47% to $1.9200.
- Rhythm Pharmaceuticals, Inc. (NASDAQ:RYTM) gained 25.8% to $82.00 after the company announced topline results from its Phase 2 trial for Bivamelagon.
- Plug Power Inc. (NASDAQ:PLUG) gained 20.4% to $1.7101. Plug Power announced Wednesday it has renewed and expanded a multi-year hydrogen supply agreement with a longtime U.S.-based industrial gas partner, extending their collaboration through 2030.
- The AES Corporation (NYSE:AES) rose 16.8% to $12.94 after Bloomberg reported the company is exploring options amid takeover interest.
- Bloom Energy Corporation (NYSE:BE) gained 15.2% to $27.98 after JP Morgan upgraded the stock from Neutral to Overweight and raised its price target from $18 to $33.
- Precigen, Inc. (NASDAQ:PGEN) rose 15.2% to $1.96.
- First Majestic Silver Corp. (NYSE:AG) jumped 8.1% to $8.64. First Majestic produced 7.9 million AgEq ounces in the second quarter and raised its full-year outlook to 32.6 million on 76% surge in silver and strong gold output.
- Grifols, S.A. (NASDAQ:GRFS) gained 7.7% to $9.69.
- Metsera, Inc. (NASDAQ:MTSR) rose 7.7% to $32.50.
- Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) gained 7.6% to $123.94.
- GeneDx Holdings Corp. (NASDAQ:WGS) rose 7.2% to $91.38. Piper Sandler analyst David Westenberg initiated coverage on GeneDx Holdings with an Overweight rating and announced a price target of $110.
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