Tesla, Crinetics Pharmaceuticals And Other Big Stocks Moving Higher In Monday's Pre-Market Session
Portfolio Pulse from Lisa Levin
Several stocks recorded gains in Monday's pre-market trading session, including Crinetics Pharmaceuticals, Canopy Growth Corporation, BeiGene, HUTCHMED, Sumitomo Mitsui Financial Group, Tesla, XPeng, Mitsubishi UFJ Financial Group, LiveWire Group, and Bilibili. Notable movements include Crinetics Pharmaceuticals' 35.8% jump following positive results from its Phase 3 PATHFNDR-1 study, and Tesla's 5.4% rise after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised the price target from $250 to $400.
September 11, 2023 | 9:35 am
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Crinetics Pharmaceuticals' shares jumped 35.8% in pre-market trading following positive results from its Phase 3 PATHFNDR-1 study.
Positive results from a Phase 3 study typically indicate a high likelihood of regulatory approval, which can significantly boost a pharmaceutical company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tesla's shares rose 5.4% in pre-market trading after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised the price target from $250 to $400.
Upgrades from major financial institutions like Morgan Stanley often lead to increases in a stock's price, as they signal confidence in the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100