5 Top Stock Gainers for Friday: Novan, Magnachip, Vaxart

Novan, Magnachip Semiconductor, Vaxart, Iconix Brand Group and NIO are five top stock gainers for Friday.
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Stocks finished higher Friday, with the S&P 500 posting its second consecutive record close, as Wall Street assessed hotter-than-expected inflation data and how the Federal Reserve might respond to the rising price pressures.

Here are some of the big movers in the stock market on Friday:

1. Novan | Increase 62%

Shares of Novan  (NOVN) - Get Report jumped after the biotech reported progress in a Phase 3 trial of what would be the first approved drug to treat the skin infection molluscum contagiosum. 

The clinical study is for SB206, an antiviral gel designed to treat this common and contagious skin infection.

2. Magnachip Semiconductor | Increase 12%

Magnachip Semiconductor  (MX) - Get Report shares took off after the company said it had received an unsolicited $35-a-share cash takeover proposal from Cornucopia Investment Partners. 

In March, Magnachip agreed to be acquired by Wise Road Capital in a take-private transaction valued at $1.4 billion.

3. Vaxart | Increase 22%

Vaxart  (VXRT) - Get Report advanced after Piper Sandler analyst Yasmeen Rahimi initiated coverage of the clinical-stage biopharmaceutical company with an overweight rating and an $18 price target. 

Last month, Vaxart said that its oral COVID-19 vaccine treatment could be just as effective as the injectables made by its most popular rivals.

4. Iconix Brand Group | Increase 28%

Shares of Iconix Brand Group  (ICON) - Get Report leaped after the brand management company said it agreed to merge with an affiliate of Lancer Capital, in an all-cash transaction that values Iconix at about $585 million. 

Iconix's brand portfolio includes Joe Boxer, London Fog, and Rocawear.

5. NIO | Increase 6.8%

NIO  (NIO) - Get Report climbed after the Chinese electric-vehicle maker said it won a key European Whole Vehicle Type Approval license for the ES8, saying it will serve as an "essential foundation" for Europe expansion. 

The company's CEO also said its manufacturing partner had begun building a second factory near NIO's headquarters in the industrial city of Hefei.