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APLS

TARS

Tarsus Pharmaceuticals' Xdemvy has been approved by the FDA for Demodex blepharitis. Despite this, Tarsus shares have been under pressure due to concerns over a 10% instillation site stinging and burning adverse event. Analysts from William Blair believe these concerns are overblown and maintain an Outperform rating with a price target of $44. They also note that the weakness in Tarsus shares may be due to cases of eye inflammation and occlusive retinal vasculitis for Apellis Pharmaceuticals' Syfovre.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 7:39 pm

ABBV

BGNE

William Blair has initiated coverage on AbbVie Inc with a Market Perform rating. The analysts noted that while AbbVie was prepared for the launch of Humira biosimilars, the loss of exclusivity is complicated by growing competition in the hematology and aesthetic franchises. The launch of Beigene Limited's Brukinsa intensifies competitive pressure. AbbVie's shares are expected to trade roughly in line with the market as Humira pricing and volume erode over the next 12 months.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 7:35 pm

IPAR

Inter Parfums Inc (IPAR) reported a 26% increase in Q2 2023 sales to $309 million, beating the consensus of $282 million. The company also raised its 2023 sales guidance to $1.3 billion from $1.25 billion. D.A. Davidson analyst Linda Bolton Weiser reiterated a Buy rating on IPAR shares with a price target of $187. The sales growth was attributed to the prestige fragrance market growth and share gains. The company's shares are trading higher by 9.8% at $143.84.

Portfolio Pulse from Shivani Kumaresan

July 25, 2023 | 7:34 pm

PXD

A significant bearish stance has been taken on Pioneer Natural Resources (NYSE:PXD) by a large investor, as observed in the unusual options activity. The overall sentiment of these big-money traders is split between 27% bullish and 72% bearish. The whales have been targeting a price range from $200.0 to $250.0 for Pioneer Natural Resources over the last 3 months. The price of PXD is up 0.96% at $220.13, and RSI indicators hint that the stock may be overbought. The next earnings are expected to be released in 7 days.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 7:31 pm

V

A large investor has taken a bullish stance on Visa (NYSE:V), with 24 uncommon options trades spotted for the company. The sentiment of these trades is split evenly between bullish and bearish. The trades include 12 puts for a total of $695,918 and 12 calls for a total of $1,213,832. The targeted price range for Visa over the last 3 months has been $150.0 to $285.0. Barclays maintains an Overweight rating on Visa with a price target of $287, while Oppenheimer has downgraded its action to Outperform with a price target of $248.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 7:31 pm

ZVIA

Telsey Advisory Group analyst Dana Telsey has downgraded Zevia PBC (NYSE:ZVIA) to Market Perform from Outperform, lowering the price target to $4 from $5. The analyst cites a competitive macro environment and company-specific operational issues as reasons for the downgrade. Telsey also revised sales and profit estimates downward for 2Q23 and 2023. Despite these challenges, Zevia is expected to gain market share from its brand refresh initiatives in 2023.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2023 | 7:19 pm

OKE

A large bearish position has been taken on ONEOK (NYSE:OKE), as noticed by Benzinga's options scanner. The overall sentiment of these big-money traders is split between 44% bullish and 55% bearish. Whales have been targeting a price range from $50.0 to $67.5 for ONEOK over the last 3 months. Citigroup has downgraded its action to Buy with a price target of $73.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 7:16 pm

FFIV

Needham analyst Alex Henderson reiterated a Buy rating on F5, Inc (NASDAQ:FFIV), raising the price target to $180 from $175. Despite macro pressures, F5 is expanding GM and Operating Margins, and EPS is expected to grow at or near double-digits in the foreseeable future. The company has a strong balance sheet with $11.55/share in cash, nearly $1 billion in authorized share repurchases, and superb cash flow generation.

Portfolio Pulse from Nabaparna Bhattacharya

July 25, 2023 | 7:15 pm

MSFT

Microsoft Corporation (NASDAQ:MSFT) is set to release its Q4 2023 financial results after the market closes on Tuesday. Analysts estimate earnings per share of $2.55 on revenues of $55.47 billion. The stock has been rising ahead of the announcement, trading in a rising channel pattern. However, it's also settling into a possible bear flag, indicating potential bearish movement. The stock has resistance at $366.78 and $370, and support at $349.67 and $338.72.

Portfolio Pulse from Melanie Schaffer

July 25, 2023 | 7:15 pm

APLD

Needham analyst John Todaro has raised the price target on Applied Digital Corp (NASDAQ:APLD) to $17.5 from $16 with a Buy rating. This follows APLD's better-than-expected FY24 guidance after its Q4 FY23 earnings results. The company reported Q4 FY23 revenue of $22 million, up 193% Y/Y, but missed the consensus of $29.57 million. For FY 2024, APLD expects revenue within $385 million – $405 million and adjusted EBITDA of $195 million – $205 million. Todaro believes APLD can deliver on its first and second Character AI contracts earlier than expected.

Portfolio Pulse from Lekha Gupta

July 25, 2023 | 7:14 pm