Encana Corp (USA) (NYSE:ECA) got Upgraded

Encana Corp (USA) (NYSE:ECA) shares were up 2.11% on Wednesday when approximately 8.43M shares were traded, against the average daily trading volume of 11.94M. Analysts at Credit Agricole recently upgraded the stock to Underperform from Buy. Encana Corp (USA) (NYSE:ECA) has a consensus buy rating, according to Zacks Investment Research. 3 analyst has rated the stock with a sell rating, 6 have assigned a hold rating, 3 says it’s a buy, and 7 have assigned a strong buy rating to the company.

Analysts have a consensus target price of $13.82 in the 12-month period. The price objective is 5.82% higher than the recent closing price of $13.06. The 52-week price range is $2.98-$13.47 and the company has a market capitalization of $12.57 billion.

Encana Corporation, together with its subsidiaries, engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States. The company owns interests in plays, such as the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations, including Wheatland in southern Alberta, Deep Panuke located offshore Nova Scotia, and Horn River in northeast British Columbia. It also holds interests in plays that comprise the Eagle Ford in south Texas; Permian in west Texas; DJ Basin in northern Colorado; San Juan in northwest New Mexico; Piceance in northwest Colorado; and Tuscaloosa Marine Shale in east Louisiana and west Mississippi. Encana Corporation primarily markets its products to refiners, local distribution companies, energy marketing companies, and electronic exchanges. The company was founded in 1971 and is headquartered in Calgary, Canada.

Encana set to top its own 2017 production, profit-margin outlook

Energy producer Encana Corp. announced on Wednesday, January 4, 2017 that company’s results in 2017 will top its predictions released just a few months ago as the company continues to cut costs and boost oil and gas production volumes.

The Calgary-based energy giant announced it predicts a profit margin of $10 (U.S) per barrel of oil equivalent in 2017, up from the $8 a barrel it revealed during an investor day in October. The surge is a result of lower-than-predicted costs and raised volumes this year.

Meanwhile Encana, has find it hard with high debt levels and the sharp plunge in commodity prices that started in the last half of 2014. But on Wednesday Encana announced it had already hit its projected 2017 operational activity and rig count levels in December. That progress is part of the company’s plan to surge production by almost 60 per cent between 2016 and 2021, while plummeting costs and rising its cash flow.

Furthermore Company’s profit-margin predictions are based on price expectations of $55 a barrel for West Texas intermediate crude, and $3 per million British thermal units for benchmark North American natural gas.

Company’s chief executive Doug Suttles turned the focus of Encana from natural gas to more oil-related plays, such as the Eagle Ford basin.

At the moment, much of the company’s emphasis has turned to its assets in the Permian basin, the Texas and New Mexico play is a low-cost and productive area for many producers despite the crude price slump.

Encana also said during announcement that it expects production growth from its four core assets, which also comprise the Duvernay in Alberta will be in the upper range of, or exceed, its previously directed growth estimation of 15% to 20% from the fourth quarter of 2016 to the end of this year.

Downgrade of the Day: Encana Corp (USA) (NYSE:ECA)

Encana Corp (USA) (NYSE:ECA) currently trades at $11.70 which is about -3.78% lower than the 52-week high of $12.55. The trading volume at ready counter moved to 11.03M shares as compared to 14.84M shares average traded volume. The stock failed to get pushed above the $12.31 barrier, the intraday high, after opening at $12.27. Analysts have a consensus target price of $12.66 in the 12-month period. Its market capitalization has now reached to $11.11B.

Encana Corp (USA) (NYSE:ECA) was dropped to Underweight from Equal Weight at Barclays. It has earned a consensus buy rating, according to Zacks Investment Research. 3 analyst has rated the stock with a sell rating, 6 have assigned a hold rating, 3 says it’s a buy and 7 have assigned a strong buy rating to the company.

Encana Corp (USA) (ECA) on October 27, 2016 will announce its 2016 third quarter results on Thursday, November 3, 2016. Prior to the third quarter conference call, the news release and financial statements will be available on the company’s website.

The conference call and webcast to discuss the 2016 third quarter results will be held for the investment community the same day at 7 a.m. MT (9 a.m. ET). To participate, please dial (866) 223-7781 (toll-free in North America) or (416) 340-2216 approximately 10 minutes prior to the conference call. An archived recording of the call will be available from approximately 10 a.m. MT on November 3 until 11:59 p.m. MT on November 10, 2016 by dialing (800) 408-3053 or (905) 694-9451 and entering passcode 9550736.

The live audio webcast of the third quarter conference call, as well as presentation slides, will also be available on Encana’s website, www.encana.com, under Investors/Presentations & Events. The webcast will be archived for approximately 90 days.

Encana Corporation

Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs). By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates.

Encana Corporation, together with its subsidiaries, engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States. The company owns interests in plays, such as the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations, including Wheatland in southern Alberta, Deep Panuke located offshore Nova Scotia, and Horn River in northeast British Columbia. It also holds interests in plays that comprise the Eagle Ford in south Texas; Permian in west Texas; DJ Basin in northern Colorado; San Juan in northwest New Mexico; Piceance in northwest Colorado; and Tuscaloosa Marine Shale in east Louisiana and west Mississippi. Encana Corporation primarily markets its products to refiners, local distribution companies, energy marketing companies, and electronic exchanges. The company was founded in 1971 and is headquartered in Calgary, Canada.

Stock Upgrade of the Day: Encana Corp (USA) (NYSE:ECA)

Encana Corp (USA) (NYSE:ECA) shares were down -0.41% on Friday when approximately 16.91M shares were traded, against the average daily trading volume of 18.20M. Analysts at Credit Agricole recently upgraded the stock to Underperform from Buy. Encana Corp (USA) (NYSE:ECA) has a consensus buy rating, according to Zacks Investment Research. 3 analyst has rated the stock with a sell rating, 7 have assigned a hold rating, 2 says it’s a buy, and 7 have assigned a strong buy rating to the company.

Analysts have a consensus target price of $12.62 in the 12-month period. The price objective is 28.78% higher than the recent closing price of $9.80. The 52-week price range is $2.98-$11.74 and the company has a market capitalization of $9.04 billion.

On November 3, 2016 Encana Corp (USA) (ECA) delivered strong financial results in the third quarter. Continuous innovation delivered leading well and operational performance which drove significant increases in net earnings and cash flow. The company continued to build on its track record of efficiency and active balance sheet management, reducing its net debt and further lowering costs. Encana remains on target to meet or exceed its 2016 guidance. Highlights from the quarter include:

  • net earnings of $317 million or $0.37 per share and operating earnings of $32 million or $0.04 per share; cash from operating activities of $186 million and cash flow of $252 million or $0.29 per share, a 38 percent increase from the second quarter
  • core four assets, the Permian, Eagle Ford, Duvernay and Montney delivered 242,800 barrels of oil equivalent per day (BOE/d), representing more than 70 percent of the company’s total 338,000 BOE/d
  • set new, or replicated, pacesetter drilling and completions costs
  • reduced net debt by about $2.0 billion from the second quarter
  • completed a public share offering for aggregate gross proceeds of $1.15 billion, including the over-allotment exercised in October
  • closed the divestitures of Gordondale and DJ Basin assets

“We delivered strong financial results during the quarter which were driven by innovation and exceptional well performance coupled with continued capital and operating efficiencies,” said Doug Suttles, Encana President & CEO. “Our relentless focus on driving efficiency into every corner of the business is increasing our margins and delivering significant cash flow growth. Encana is now one of, if not the, lowest cost, highest performing operators in each of our core four assets.”

“We are entering a phase of generating significant value from the tremendous business we’ve created to deliver sector leading growth and returns,” added Suttles. “Our core four assets include over 10,000 premium return well locations and form a multi-basin portfolio which gives Encana a powerful competitive advantage. Our teams quickly refine and apply successful technical innovations across each of our core four assets and continue to capture sustainable efficiencies. We have the ability to rapidly respond to changing market conditions.”

Which way Encana Corporation (NYSE:ECA) insiders are heading

Encana Corporation (NYSE:ECA), with -4.47% losses in previous 5 sessions, is under coverage of 27 analysts who collectively assign a hold rating on stock. 13 of the brokerages firms have a buy or better rating; the 0 sells versus 4 underperforms. The 27 stock analysts who cover the stock have an average PT at $12.62, with individual targets in the range of $5.25 to $20. The shares ended last trade at $9.84, implying that Wall Street analysts see shares climbing about 28.25 per cent in 12 months’ time.

Insider Trading News: Insiders at the company look optimistic about the outlook as they seem to accumulate shares while they have 94.51 jumped so far this year. A Director at Encana Corporation (ECA) purchased shares in a trading activity completed on Wednesday July 02, 2014. Fowler, Fred John accumulated 1,000 shares in the company at a per-share price of $23.5 and ended up spending $23,500 in the investment. Fowler, Fred John now have 0 shares in the stock after this transaction. A Director in the company, Waterman, Bruce G., on Friday January 17, 2014 spent $192,800 from the purchase of 10,000 shares at a per-share price of $23.5. Insiders are expected to have better knowledge about the health and prospects of their company, which is why insiders’ move deserves attention.

Encana Corporation (NYSE:ECA) Earnings on Tap

Investors interested in trading ECA stock at the current market price of $9.84/share should know the company will next release quarterly results for the September 2016 quarter. For the reporting quarter, equity analysts expect the stock to deliver -$0.04 in earnings per share (EPS). That would represent a 33.33 per cent year-over-year increase. Revenue for the same quarter is predicted to arrive at $718.32M.

Historical Quarterly Earnings: Last quarter, Encana Corporation generated nearly $364M in sales and net income of $0.1/share. That compares with the mean forecast $714.24M and -$0.09/share, respectively. For the prior quarter revenue for the stock hit $753M, with EPS at -$1.50E-01.

Encana Corporation (ECA) Analyst Rating News

Barclays is following shares of Encana Corporation (ECA), so its rating change is noteworthy. The company stock was upgraded to Overweight from Equal Weight, wrote analysts at Barclays, in a research note issued to clients on Tuesday October 11, 2016. There was another key research note provided by Societe Generale on Friday October 07, 2016. The firm lowered its rating on ECA from Hold to Sell.

Price Potential: Even though the stock has posted 5.81% rise in value, its new closing price reflects a -16.18% fall in value from company’s one year high of $11.74. The stock is currently holding below its 50-day SMA of $10.26 and above its 200-day SMA of $8.72. Over the last 3 months and over the last 6 months, the shares of Encana Corporation (ECA), have changed 18.16% and 58.47%, respectively.

Encana Corp (USA) (NYSE:ECA) got Upgraded

Encana Corp (USA) (NYSE:ECA) received a stock rating upgrade from Barclays on Oct-11-16. In a note to investors, the firm issued an Overweight rating and hiked the target price on the stock from $10 to $14. The analysts previously had an Equal Weight rating on the stock.

Analysts have a consensus target price of $11.95 in the 12-month period. The price objective is 7.85% higher than the recent closing price of $11.08. The 52-week price range is $2.98-$11.31 and the company has a market capitalization of $10.60 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. 3 analyst has rated the stock with a sell rating, 8 has assigned a hold rating, 2 says it’s a buy, and 6 have assigned a strong buy rating to the company.

Encana Corp (USA) (ECA) on September 23, 2016 announced the completion of its public offering (“Offering”) of 107,000,000 common shares (“Shares”) of Encana at a price of US$9.35 per Share, for gross proceeds to Encana of approximately US$1 billion. In connection with the Offering, Encana has granted the underwriters, led by Credit Suisse Securities (Canada), Inc. and J.P. Morgan, a 30-day over-allotment option to purchase up to 16,050,000 additional Shares.

Encana intends to use approximately half of the net proceeds received from the sale of the Shares to fund a portion of its 2017 capital program. The remaining proceeds will be used to enhance Encana’s balance sheet flexibility by repaying indebtedness under its credit facilities. The majority of the 2017 capital program is expected to be allocated to growing Encana’s Permian production through increasing the number of rigs in the play, which is expected to result in approximately two times as many Permian wells on stream in 2017 as compared to 2016. The allocation of proceeds may vary depending upon numerous factors, including changes in commodity prices and increased capital efficiency.

The Offering was made by means of a base prospectus and related prospectus supplements. Encana previously filed with the securities commission in each of the provinces and territories of Canada a shelf prospectus and a registration statement with the United States Securities and Exchange Commission (the “SEC”), which has become effective under the Securities Act of 1933, as amended. Prospectus supplements describing the Offering were filed with the securities regulatory authorities in each of the provinces and territories of Canada and with the SEC. The prospectuses and the related prospectus supplements contain important detailed information about the securities being offered. Before investing, you should read the prospectuses, the prospectus supplements and other documents filed with the securities regulatory authorities in each of the provinces and territories of Canada and the SEC for information about Encana and this Offering. Copies of the prospectuses and related prospectus supplements may be obtained: in Canada from Credit Suisse Securities (Canada), Inc., Prospectus Department (416-352-4520), 1 First Canadian Place Suite 2900, P.O. Box 301, Toronto, Ontario, Canada, M5X 1C9 and in the United States from Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037), One Madison Avenue, New York, New York 10010, email: newyork.prospectus@credit-suisse.com; and J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204, email: prospectus-eq_fi@jpmchase.com. You may also obtain these documents free of charge by visiting the SEC’s website at www.sec.gov or SEDAR at www.sedar.com.

This news release does not provide full disclosure of all material facts relating to the securities offered. Investors should read the prospectuses, any amendments and the prospectus supplements for disclosure of those facts, especially risk factors relating to the securities offered, before making an investment decision.

Why Encana Corp (USA) (NYSE:ECA) have been downgraded?

Encana Corp (USA) (NYSE:ECA) received a stock rating downgrade from Societe Generale on Oct-07-16. In a note to investors, the firm issued a Sell rating. The analysts previously had a Hold rating on the stock.

Analysts have a consensus target price of $11.95 in the 12-month period. The price objective is 10.04% higher than the recent closing price of $10.86. The 52-week price range is $2.98-$11.23 and the company has a market capitalization of $10.39 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. 2 analyst has rated the stock with a sell rating, 7 has assigned a hold rating, 2 says it’s a buy, and 6 have assigned a strong buy rating to the company.

Encana Corp (USA) (ECA) on October 4, 2016 announced that, in connection with its completed public offering of 107,000,000 common shares (“Shares”) of Encana at a price of US$9.35 per Share (the “Offering Price”), the over-allotment option granted to the underwriters to purchase up to an additional 16,050,000 additional Shares (the “Over-Allotment Option”) at the Offering Price was exercised in full for additional gross proceeds to Encana of approximately US$150 million. The sale of the additional Shares pursuant to the Over-Allotment Option brings the aggregate gross proceeds to Encana from the offering, including the Over-Allotment Option (collectively, the “Offering”), to approximately US$1.15 billion.

The Offering was made through a syndicate of underwriters, led by Credit Suisse Securities (Canada), Inc. and J.P. Morgan.

Encana Corporation

Encana is a leading North American energy producer that is focused on developing its strong portfolio of resource plays, held directly and indirectly through its subsidiaries, producing natural gas, oil and natural gas liquids (NGLs). By partnering with employees, community organizations and other businesses, Encana contributes to the strength and sustainability of the communities where it operates. Encana common shares trade on the Toronto and New York stock exchanges under the symbol ECA.

Encana Corporation, together with its subsidiaries, engages in the development, exploration, production, and marketing of natural gas, oil, and natural gas liquids in Canada and the United States. The company owns interests in plays, such as the Montney in northern British Columbia and northwest Alberta; Duvernay in west central Alberta; and other upstream operations, including Wheatland in southern Alberta, Deep Panuke located offshore Nova Scotia, and Horn River in northeast British Columbia. It also holds interests in plays that comprise the Eagle Ford in south Texas; Permian in west Texas; DJ Basin in northern Colorado; San Juan in northwest New Mexico; Piceance in northwest Colorado; and Tuscaloosa Marine Shale in east Louisiana and west Mississippi. Encana Corporation primarily markets its products to refiners, local distribution companies, energy marketing companies, and electronic exchanges. The company was founded in 1971 and is headquartered in Calgary, Canada.

Stock Upgrade of the Day: Encana Corp (USA) (NYSE:ECA)

Encana Corp (USA) (NYSE:ECA) received a stock rating upgrade from Raymond James on Oct-06-16. In a note to investors, the firm issued a Outperform rating. The analysts previously had an Mkt Perform rating on the stock.

Analysts have a consensus target price of $33.75 in the 12-month period. The price objective is 8.59% higher than the recent closing price of $31.08. The 52-week price range is $24.78-$31.94 and the company has a market capitalization of $4.64 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. 4 analyst has rated the stock with a sell rating, 5 has assigned a hold rating, 1 says it’s a buy, and 6 have assigned a strong buy rating to the company.

Encana Corp (USA) (ECA) on September 20, 2016 announced that it intends to conduct a public offering (“Offering”) of 107,000,000 common shares (“Shares”) of Encana. Encana expects to grant the underwriters, led by Credit Suisse Securities (Canada), Inc. and J.P. Morgan, a 30-day over-allotment option to purchase up to 16,050,000 additional Shares. The price of the Offering is anticipated to be established later following marketing of the Offering by the underwriters.

Encana intends to use approximately half of the net proceeds received from the sale of the Shares to fund a portion of its 2017 capital program. The remaining proceeds will be used to enhance Encana’s balance sheet flexibility by repaying indebtedness under its credit facilities. The majority of the 2017 capital program is expected to be allocated to growing Encana’s Permian production through increasing the number of rigs in the play, which is expected to result in approximately two times as many Permian wells on stream in 2017 as compared to 2016. The allocation of proceeds may vary depending upon numerous factors, including changes in commodity prices and increased capital efficiency.

The Offering is expected to close on or about September 23, 2016. Completion of the Offering is subject to, and conditional upon, the receipt of all necessary approvals, including approval of the Toronto Stock Exchange and the New York Stock Exchange.

The Offering is being made by means of a base prospectus and related prospectus supplements. Encana previously filed with the securities commission in each of the provinces and territories of Canada a shelf prospectus and a registration statement with the United States Securities and Exchange Commission (the “SEC”), which has become effective under the Securities Act of 1933, as amended. Preliminary prospectus supplements describing the Offering will be filed with the securities regulatory authorities in each of the provinces and territories of Canada and with the SEC. The prospectuses contain, and the related prospectus supplements will contain, important detailed information about the securities being offered. Before investing, you should read the prospectuses, the prospectus supplements and other documents filed with the securities regulatory authorities in each of the provinces and territories of Canada and the SEC for information about Encana and this Offering. Copies of the prospectuses and related prospectus supplements may be obtained: in Canada from Credit Suisse Securities (Canada), Inc., Prospectus Department (416-352-4520), 1 First Canadian Place Suite 2900, P.O. Box 301, Toronto, Ontario, Canada, M5X 1C9 and in the United States from Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037), One Madison Avenue, New York, New York 10010, email: newyork.prospectus@credit-suisse.com; and J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204, email: prospectus-eq_fi@jpmchase.com. You may also obtain these documents free of charge by visiting the SEC’s website at www.sec.gov or SEDAR at www.sedar.com.

Yesterday’s Upgrade Review: Encana Corp (USA) (NYSE:ECA)

Encana Corp (USA) (NYSE:ECA) received a stock rating upgrade from Citigroup on Sep-30-16. In a note to investors, the firm issued a Buy rating. The analysts previously had a Neutral rating on the stock.

Analysts have a consensus target price of $11.37 in the 12-month period. The price objective is 8.60% higher than the recent closing price of $10.47. The 52-week price range is $2.98-$10.73 and the company has a market capitalization of $9.68 billion. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. 4 analyst has rated the stock with a sell rating, 6 has assigned a hold rating, 1 says it’s a buy, and 6 have assigned a strong buy rating to the company.

Encana Corp (USA) (ECA) on September 23, 2016 announced the completion of its public offering (“Offering”) of 107,000,000 common shares (“Shares”) of Encana at a price of US$9.35 per Share, for gross proceeds to Encana of approximately US$1 billion. In connection with the Offering, Encana has granted the underwriters, led by Credit Suisse Securities (Canada), Inc. and J.P. Morgan, a 30-day over-allotment option to purchase up to 16,050,000 additional Shares.

Encana intends to use approximately half of the net proceeds received from the sale of the Shares to fund a portion of its 2017 capital program. The remaining proceeds will be used to enhance Encana’s balance sheet flexibility by repaying indebtedness under its credit facilities. The majority of the 2017 capital program is expected to be allocated to growing Encana’s Permian production through increasing the number of rigs in the play, which is expected to result in approximately two times as many Permian wells on stream in 2017 as compared to 2016. The allocation of proceeds may vary depending upon numerous factors, including changes in commodity prices and increased capital efficiency.

The Offering was made by means of a base prospectus and related prospectus supplements. Encana previously filed with the securities commission in each of the provinces and territories of Canada a shelf prospectus and a registration statement with the United States Securities and Exchange Commission (the “SEC”), which has become effective under the Securities Act of 1933, as amended. Prospectus supplements describing the Offering were filed with the securities regulatory authorities in each of the provinces and territories of Canada and with the SEC. The prospectuses and the related prospectus supplements contain important detailed information about the securities being offered. Before investing, you should read the prospectuses, the prospectus supplements and other documents filed with the securities regulatory authorities in each of the provinces and territories of Canada and the SEC for information about Encana and this Offering. Copies of the prospectuses and related prospectus supplements may be obtained: in Canada from Credit Suisse Securities (Canada), Inc., Prospectus Department (416-352-4520), 1 First Canadian Place Suite 2900, P.O. Box 301, Toronto, Ontario, Canada, M5X 1C9 and in the United States from Credit Suisse Securities (USA) LLC, Prospectus Department (1-800-221-1037), One Madison Avenue, New York, New York 10010, email: newyork.prospectus@credit-suisse.com; and J.P. Morgan, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204, email: prospectus-eq_fi@jpmchase.com. You may also obtain these documents free of charge by visiting the SEC’s website at www.sec.gov or SEDAR at www.sedar.com.

Pre-Market Investor’s Watch List: Encana Corp (NYSE:ECA), Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics Inc(NASDAQ:SRPT) stock on Friday’s pre market session gained 3.36% at price of $57.60. Over the last one month and the previous three months, Sarepta Therapeutics Inc’s shares gained 117.27% and 226.86%, respectively. Additionally, the stock has surged 44.45% since the beginning of 2016. The company’s shares are trading above their 50-day and 200-day moving averages by 115.04% and 153.84%, respectively.

Sarepta Therapeutics, Inc. (SRPT), a developer of innovative RNA-targeted therapeutics, September 19, 2016 announced that the U.S. Food and Drug Administration (FDA) has granted accelerated approval for EXONDYS 51™ (eteplirsen) as a once weekly intravenous infusion of 30 milligrams per kilogram for the treatment of Duchenne muscular dystrophy (DMD) in patients who have a confirmed mutation in the DMD gene that is amenable to exon 51 skipping. This indication is based on an increase in dystrophin in skeletal muscles observed in some patients treated with EXONDYS 51. A clinical benefit of EXONDYS 51 has not been established. Continued approval for this indication may be contingent upon verification of a clinical benefit in confirmatory trials. The most common adverse reactions compared to a placebo group were vomiting (38%) and balance disorder (38%) with contusion, excoriation, arthralgia, rash, catheter site pain, and upper respiratory tract infection also reported more frequently than placebo (≥ 10%).

“Today’s accelerated approval of EXONDYS 51 represents a major milestone in the treatment of Duchenne Muscular Dystrophy for patients amenable to skipping exon 51 by targeting the underlying genetic cause of the disease – the lack of the dystrophin protein,” said Edward Kaye, M.D., Sarepta’s interim chief executive officer and chief medical officer. “We are grateful to the many patients and investigators who participated in EXONDYS 51’s clinical studies. EXONDYS 51 represents the culmination of many years of work across our entire organization and the Duchenne community to address a critical unmet need by bringing this novel medicine to patients. We will continue to leverage what we have learned from EXONDYS 51 to facilitate future development of potential new treatments targeting additional exons with the goal of one day treating all DMD patients amenable to exon skipping.”

Encana Corp (USA)(NYSE:ECA) stock gained 1.43% in today’s pre market session with the price of $9.24. Over the last one month and over the past three months, Encana Corp shares lost -10.03% and 8.35%, respectively. Furthermore, the stock rose 80.08% since the start of this year. The company’s shares are trading 1.19% above their 50-day moving average. Additionally, Encana Corp has an RSI of 42.76 and beta of 1.72.

Encana Corporation announced September 19, 2016 the pricing of its public offering (“Offering”) of common shares (“Shares”) of Encana. Encana agreed to sell 107,000,000 Shares at a public offering price of US$9.35 per Share for gross proceeds to Encana of US$1,000,450,000. In connection with the Offering, Encana has granted the underwriters, led by Credit Suisse Securities (Canada), Inc. and J.P. Morgan, a 30-day over-allotment option to purchase up to 16,050,000 additional Shares.

Encana intends to use approximately half of the net proceeds received from the sale of the Shares to fund a portion of its 2017 capital program. The remaining proceeds will be used to enhance Encana’s balance sheet flexibility by repaying indebtedness under its credit facilities. The majority of the 2017 capital program is expected to be allocated to growing Encana’s Permian production through increasing the number of rigs in the play, which is expected to result in approximately two times as many Permian wells on stream in 2017 as compared to 2016. The allocation of proceeds may vary depending upon numerous factors, including changes in commodity prices and increased capital efficiency.