Streetbeat News

Analyst Ratings

SMG

Stifel analyst W. Andrew Carter has maintained a 'Hold' rating on Scotts Miracle Gro (NYSE:SMG) and lowered the price target from $68 to $55.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 5:57 pm

LBPH

HC Wainwright & Co. analyst Patrick Trucchio has reiterated a 'Buy' rating on Longboard Pharmaceuticals (NASDAQ:LBPH) and maintained a $25 price target.

Portfolio Pulse from richadhand@benzinga.com

August 07, 2023 | 5:55 pm

ADTN

Needham analyst Ryan Koontz has reiterated a 'Buy' rating on Adtran (NASDAQ:ADTN) and maintained a price target of $15.

Portfolio Pulse from richadhand@benzinga.com

August 07, 2023 | 5:54 pm

DAC

Jefferies analyst Omar Nokta has reiterated a 'Buy' rating on Danaos (NYSE:DAC) and maintained an $80 price target.

Portfolio Pulse from richadhand@benzinga.com

August 07, 2023 | 5:53 pm

POST

Evercore ISI Group analyst David Palmer maintains an 'Outperform' rating on Post Holdings (NYSE:POST) and raises the price target from $105 to $108.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 5:52 pm

NGVT

BMO Capital Market analyst John P. McNulty has downgraded Ingevity Corp (NYSE:NGVT) to Market Perform from Outperform, lowering the price target to $60 from $71. McNulty anticipates worsening headwinds in the CTO market over the next 12-18 months, particularly due to higher demand from the European biofuels market and supply constraints. These factors are expected to increase costs by around $200 million in NGVT's Performance Chemicals segment in 2023. Weak demand for rosin in Asia/Europe has also decreased NGVT's ability to push prices and produce TOFA/derivative products.

Portfolio Pulse from Lekha Gupta

August 07, 2023 | 5:45 pm

BIIB

SAGE

The FDA approved Sage Therapeutics Inc and Biogen Inc's Zurzuvae for adults with postpartum depression but issued a Complete Response Letter for the New Drug Application for zuranolone for major depressive disorder. Analysts from Wedbush, William Blair, Needham, Truist Securities, and HC Wainwright have expressed concerns about the effectiveness of zuranolone and the potential need for additional studies. Price targets for both companies have been lowered, and SAGE shares are down 52.30%.

Portfolio Pulse from Vandana Singh

August 07, 2023 | 5:44 pm

IKNA

Ikena Oncology Inc (NASDAQ:IKNA) has acquired Pionyr Immunotherapeutics Inc in an all-stock transaction. The deal includes all of Pionyr's assets, including approximately $43 million in net cash, in exchange for shares of IKNA stock. The transaction strengthens Ikena's financial position and allows it to advance its oncology programs. Analysts from William Blair and HC Wainwright view the acquisition positively.

Portfolio Pulse from Vandana Singh

August 07, 2023 | 5:40 pm

W

UBS analyst Atul Maheswari has upgraded Wayfair Inc (NYSE:W) to Buy from Neutral with an increased price target of $110 from $72. The analyst believes that Wayfair will enter a multi-quarter growth period with a boost in sales and profit. The company's move to reduce the cost base is expected to drive margin gains in the future. Last week, Wayfair reported a Q2 FY23 sales decline of 3.4% YoY to $3.17 billion, beating the consensus of $3.10 billion.

Portfolio Pulse from Lekha Gupta

August 07, 2023 | 5:36 pm

TRHC

Nautic Partners has agreed to acquire Tabula Rasa HealthCare Inc (NASDAQ:TRHC) for $10.50 per share in cash, valuing the company at approximately $570 million. The deal will combine Tabula Rasa with ExactCare Pharmacy, another Nautic portfolio company. The transaction is expected to close in Q4 2023. Tabula Rasa's Q2 adjusted EPS was $0.03, beating the consensus of $(0.14), and sales were $90.04 million, beating the consensus of $88.82 million. William Blair analysts have downgraded the stock to Market Perform from Outperform.

Portfolio Pulse from Vandana Singh

August 07, 2023 | 5:34 pm