Streetbeat News

Analyst Ratings

EIGR

Eiger BioPharmaceuticals Inc (NASDAQ:EIGR) announced it will focus on advancing avexitide in hyperinsulinemic hypoglycemia indications. The company will allocate resources towards the potential of avexitide in treating metabolic diseases, primarily post-bariatric hypoglycemia (PBH). Baird raised the price target for EIGR from $3 to $5 with an Outperform rating, citing a shift away from virology. The analyst sees upside potential in both PBH and congenital hyperinsulinism (CHI) indications. EIGR shares are up 16.36% at $0.6401.

Portfolio Pulse from Vandana Singh

June 30, 2023 | 6:52 pm

CBAY

GNFT

IPSEY

Genfit SA and Ipsen SA announced topline results from the Phase III ELATIVE trial of elafibranor in primary biliary cholangitis (PBC), meeting its primary composite endpoint. However, CymaBay Therapeutics' ongoing Phase 3 RESPONSE study is expected to show a statistically significant reduction in itch with its drug, seladelpar. This has led to optimism for CymaBay's stock, with an Outperform rating maintained by a William Blair analyst.

Portfolio Pulse from Vandana Singh

June 30, 2023 | 6:51 pm

DFIN

Needham analyst Kyle Peterson initiated coverage on Donnelley Financial Solutions, Inc. (DFIN) with a Buy rating and a price target of $55. Peterson believes DFIN's competitive advantage will widen as it expands its offerings, and its focus on returning capital to shareholders through an active share repurchase program will help the stock re-rate higher. The analyst expects the company to see a more durable revenue stream less dependent on capital market conditions, and projects 13% EPS growth in FY24.

Portfolio Pulse from Nabaparna Bhattacharya

June 30, 2023 | 6:49 pm

BDTX

Black Diamond Therapeutics Inc (BDTX) announced initial clinical data from the Phase 1 study of BDTX-1535 for non-small cell lung cancer (NSCLC) and glioblastoma multiforme (GBM). The data showed the activity of BDTX-1535 in NSCLC patients with both acquired resistance and intrinsic driver EGFR mutations. Stifel analyst upgraded the stock from Hold to Buy with a price target of $10, up from $2. The company raised $75 million via equity capital raise. BDTX shares are down 1.62% at $4.95.

Portfolio Pulse from Vandana Singh

June 30, 2023 | 6:47 pm

PCAR

PACCAR's (NASDAQ:PCAR) short percent of float has risen 9.73% since its last report, with 9.26 million shares sold short, which is 2.03% of all regular shares available for trading. It would take traders 3.5 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, PACCAR's peer group average for short interest as a percentage of float is 5.05%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 6:45 pm

PAYX

Paychex's (NASDAQ:PAYX) short percent of float has fallen 7.41% since its last report, with 8.85 million shares sold short, which is 2.75% of all regular shares available for trading. It would take traders 4.0 days to cover their short positions on average. Compared to its peers, Paychex has less short interest as a percentage of float, with an average of 6.14%.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 6:45 pm

ORLY

O'Reilly Automotive's (NASDAQ:ORLY) short percent of float has risen 5.26% since its last report, with 964 thousand shares sold short, which is 1.6% of all regular shares available for trading. It would take traders 2.2 days to cover their short positions on average. The company's short interest is less than its peer group average of 15.14%.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 6:45 pm

BMRN

The FDA has approved BioMarin Pharmaceutical Inc's Roctavian gene therapy for adults with severe hemophilia A. The company's focus now shifts to its US commercial strategy, following failed attempts to launch in the EU. BioMarin plans to offer an outcomes-based warranty to all payers, ensuring reimbursements up to 100% if the patient does not respond. The company estimates that commercial Roctavian will be available in about 2 months. Analysts maintain a Neutral and Market Perform rating on BioMarin, with a raised price target from $69 to $73.

Portfolio Pulse from Vandana Singh

June 30, 2023 | 6:41 pm

ADI

AMD

LSCC

MCHP

NXPI

Semiconductor and chip stocks are trading higher due to overall tech strength, Micron's earnings, an analyst upgrade of NVIDIA, and continued interest in AI. Stocks mentioned include ADI, AMD, LSCC, MCHP, and NXPI.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 6:29 pm

ACCD

Needham analyst Ryan MacDonald reiterated a Buy rating on Accolade, Inc. (NASDAQ:ACCD) and raised the price target to $17 from $15. The company's pipeline remains strong with a healthy level of demand for multiproduct adoption. The Expert Medical Opinion (EMO) segment is growing at a 30% rate, and Q1 FY24 sales were up 9% Y/Y, beating consensus. However, competition continues to grow in Accolade's end market, creating churn risk, pricing pressure, and margin compression.

Portfolio Pulse from Nabaparna Bhattacharya

June 30, 2023 | 6:25 pm