Why Traders Are Buzzing about Lennar Corporation, Opko Health and Three Other Stocks on Tuesday

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Opko Rallies on FDA Thumbs Up

Opko Health Inc. (NYSE:OPK) shares are trading higher after the FDA gave the thumbs up for the company’s NDA for RAYALDEE to treat secondary hyperparathyroidism associated with vitamin D insufficiency in stage 3-4 CKD. The market could be promising for the drug, given that there are 9.0 million patients in the United States with secondary hyperparathyroidism, stages 3 to 4 CKD, and vitamin D insufficiency. Opko plans to commercially launch the product in the second half of this year. A total of 16 funds owned shares of Opko Health Inc. (NYSE:OPK) at the end of March, down by four from the previous quarter.

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Some Shareholders of Planet Fitness Consider Trimming Their Stake

Certain existing stockholders of Planet Fitness Inc (NYSE:PLNT) intend to offer for sale 10 million class A common shares, in addition to granting underwriters a 30-day option to buy an additional 1.5 million shares. Planet Fitness will not sell any shares or receive any proceeds from the offering. Seeing as shares of Planet Fitness are up  by 25% year-to-date, it is understandable that some investors might want to take some profits. Nine funds tracked by Insider Monkey had a long position in Planet Fitness Inc (NYSE:PLNT) at the end of the first quarter.

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Lawmakers Fail to Pass Gun Control Legislation

Gun-maker Smith & Wesson Holding Corp (NASDAQ:SWHC) is trending after the Senate failed to pass a bill that would increase gun control measures such as strengthening background checks and preventing suspected terrorists from buying guns. Despite the recent mass-shooting in Orlando, some politicians are apprehensive that gun regulation might hurt the second amendment. Others don’t think the gun measures go far enough. At the end of March, 24 funds tracked by us were bullish on Smith & Wesson Holding Corp (NASDAQ:SWHC), down by three funds from the previous quarter.

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Disclosure: none

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