Streetbeat News

Analyst Ratings

CABA

Guggenheim Securities has initiated coverage of Cabaletta Bio Inc (CABA) with a Buy rating and a price target of $34. The positive outlook is based on the development of its CD19 CAR-T cell therapy CABA-201, currently in development for lupus and myositis. The company has successfully pivoted to treating a new disease using a well-established approach. CABA shares are up 11.90% at $13.99.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 6:28 pm

AMGN

SFTBY

Neumora Therapeutics, backed by Softbank Group Corp and Amgen Inc, has announced plans for three Phase 3 studies for its major depressive disorder (MDD) candidate Navacaprant. The studies will evaluate the once-daily navacaprant oral monotherapy for MDD, with the first trial expected to start in 3Q23. The announcement follows the successful completion of a Phase 2 study with navacaprant, which showed promising results in reducing symptoms of depression.

Portfolio Pulse from Vandana Singh

July 18, 2023 | 6:24 pm

SEDG

Barclays has maintained an Overweight rating on SolarEdge Technologies but lowered its price target from $390 to $359. This has led to a decrease in the trading price of SolarEdge shares.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2023 | 6:23 pm

LLY

Unusual options activity has been observed for Eli Lilly (NYSE:LLY), with 17 options trades spotted, split between 52% bullish and 47% bearish. The big-money traders have been targeting a price range from $330.0 to $520.0 for Eli Lilly over the last 3 months. The current price of LLY is up 1.06% at $451.87. Analysts from Truist Securities, Cantor Fitzgerald, and Morgan Stanley have given their ratings and price targets for the company.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:15 pm

NOW

A significant investor has taken a bearish stance on ServiceNow (NYSE:NOW), with 55% of investors opening trades with bearish expectations. The whales have been targeting a price range from $450.0 to $660.0 for ServiceNow over the last 3 months. The price of NOW is up 1.21% at $599.52, with RSI indicators suggesting the stock may be approaching overbought. The next earnings are expected to be released in 8 days.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:15 pm

AMD

Advanced Micro Devices, Inc. (AMD) shares are trading lower ahead of its Q2 earnings report due in 14 days. The company is expected to report earnings per share of 57 cents and revenue of $5.31 billion. B of A Securities analyst Vivek Arya maintained a Neutral rating on AMD and lowered the price target from $135 to $130. Over the past 3 months, AMD's stock has risen by 30.55%.

Portfolio Pulse from Ryan Gustafson

July 18, 2023 | 6:14 pm

ET

Mizuho analyst Gabriel Moreen has reiterated a Buy rating on Energy Transfer LP (ET), raising the price target to $18 from $17. ET plans to release its Q2 2023 earnings on August 2, 2023. The analyst expects 'bolt-on M&A' to remain a cornerstone of ET's growth strategy, given its sprawling footprint and improved balance sheet. In May, ET announced a $1.45 billion acquisition of Lotus Midstream. Moreen raised the FY23 adj EBITDA estimate, but by a lesser amount than 1Q23 outperformance, to account for expected headwinds.

Portfolio Pulse from Nabaparna Bhattacharya

July 18, 2023 | 6:06 pm

ACI

KR

Telsey Advisory Group analyst Joseph Feldman reiterated a Market Perform rating on Albertsons Companies Inc (NYSE:ACI) with a price target of $27.25. Albertsons is expected to report 1Q23 earnings on July 25, but will not host an earnings call or provide guidance due to its pending merger with Kroger Co (NYSE:KR). The analyst maintains slightly above consensus 1Q23 sales and profit projections, citing supportive macro trends for the grocery industry. However, the company’s valuation remains dependent on its potential merger with Kroger.

Portfolio Pulse from Shivani Kumaresan

July 18, 2023 | 6:03 pm

ARQT

Arcutis Biotherapeutics (NASDAQ:ARQT) has received 8 analyst ratings in the last quarter, with 6 being bullish and 2 somewhat bullish. The company has an average price target of $41.25, a decrease of 16.24% from the previous average price target of $49.25.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:01 pm

INTC

Intel (NASDAQ:INTC) has received mixed analyst ratings in the last quarter, with 4 bullish, 12 indifferent, and 4 bearish. The average price target is $30.5, implying a downside from the current price of $34.21. The average price target has increased by 7.96% over the past month.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 6:00 pm