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KRON

Kronos Bio Inc (NASDAQ:KRON) has decided not to proceed to phase 2 of its trial for lanraplenib in combination with gilteritinib for AML after phase 1b data showed no complete responses. The company is open to further development with a partner. Kronos Bio also announced a new development candidate, KB-9558, and provided updates on KB-0742. The company has restructured to extend its cash runway into 2026. Piper Sandler and HC Wainwright have adjusted their price targets for KRON, with the stock down 14.50% at $1.25.

Portfolio Pulse from Vandana Singh

December 19, 2023 | 6:47 pm

CGEN

Compugen Ltd. (CGEN) shares soared by over 200% after Gilead Sciences announced an exclusive licensing agreement for Compugen's pre-clinical immunotherapy program. Other stocks also moved significantly in Tuesday's mid-day session, with various companies experiencing gains due to positive developments such as FDA approvals, business accreditations, and favorable analyst upgrades. Conversely, some stocks fell sharply due to negative events like pricing of public offerings, discontinuation of joint development programs, and unfavorable patent litigation outcomes.

Portfolio Pulse from Avi Kapoor

December 19, 2023 | 6:34 pm

SYRS

Syros Pharmaceuticals has announced the pricing of an underwritten offering of 4,939,591 shares at $4.42 per share, aiming to raise $45 million. The news has led to an increase in the trading price of the company's shares.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:27 pm

CRDT

EWU

IHY

PGHY

PICB

SPY

PIMCO CIO Daniel Ivascyn has expressed concerns about a potential 'hard landing' for the UK economy, predicting a significant downturn next year. He sees more risk in the UK and Europe compared to the resilient US economy. Ivascyn favors UK government bonds over US ones, anticipating economic hardship in the UK. The UK economy contracted in October, and bond yields have fallen, which is good for bondholders but negative for equities. Investors in the iShares MSCI United Kingdom ETF (EWU) should monitor these developments. Ivascyn also highlighted opportunities in global bond investing, mentioning ETFs that track international bonds, including PICB, PGHY, CRDT, and IHY. In contrast, the US economy's growth is reflected in the SPDR S&P 500 ETF (SPY), which has outperformed EWU over the past year.

Portfolio Pulse from Surbhi Jain

December 19, 2023 | 6:05 pm

WM

Waste Management (NYSE:WM) has been evaluated by 8 analysts in the last quarter, with 3 bullish, 2 somewhat bullish, and 3 indifferent ratings. The average 12-month price target is $177.62, with a high of $190.00 and a low of $163.00. Notably, the average price target increased by 2.75% in the past month. Analysts have adjusted their ratings and price targets based on recent developments, with most actions being raises. Waste Management is the largest integrated provider of traditional solid waste services in the U.S. Despite positive revenue growth and strong net margin, the company's debt management poses challenges with a higher than average debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 6:01 pm

AMGN

Amgen (NASDAQ:AMGN) received 18 analyst ratings in the last quarter, with an average 12-month price target of $293.06, a high of $326.00, and a low of $240.00. The ratings included 4 bullish, 6 somewhat bullish, and 8 indifferent, with no bearish ratings. Notably, the average price target increased by 5.07% over the past month. Analysts' actions included raising, maintaining, and lowering their stances, reflecting their views on Amgen's market position. Amgen's financial performance shows a revenue growth rate of 3.77%, a net margin of 25.06%, an ROE of 23.97%, and an ROA of 1.91%, but a high debt-to-equity ratio of 7.9.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 6:01 pm

TMUS

T-Mobile US (NASDAQ:TMUS) received 9 analyst ratings in the past quarter, with 5 bullish and 4 somewhat bullish, and none bearish. The average 12-month price target is $181.33, up 3.87% from the previous $174.57. Analysts from firms like Oppenheimer, UBS, and Wells Fargo have maintained or raised their price targets, reflecting a positive sentiment towards TMUS. The company's financial performance shows a negative revenue trend with a -1.16% growth, but a strong net margin of 11.13%. Its ROE and ROA are below industry averages, and it has a healthy debt-to-equity ratio of 1.7.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 6:01 pm

VMC

Vulcan Materials (NYSE:VMC) has received 4 analyst ratings in the last quarter, with 2 bullish and 2 somewhat bullish, and no indifferent, somewhat bearish, or bearish ratings. The average 12-month price target is $251.00, with a high of $279.00 and a low of $225.00. The average price target has increased by 1.34% over the past month. Analysts from Stifel and Seaport Global have raised their price targets, while Raymond James has lowered theirs. Vulcan Materials is a leading producer of construction aggregates in the U.S. and has shown a revenue growth rate of 4.67% as of September 30, 2023, but faces challenges with net margin, ROE, ROA, and debt management.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 6:00 pm

NRBO

NeuroBo Pharmaceuticals announced a 1-for-8 reverse stock split, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:14 pm

CLAR

Warren B. Kanders has reported a 15.4% stake in Clarus Corporation as of December 18, 2023, according to an amended 13D filing with the SEC. The filing also detailed a definitive offer to purchase Clarus's Precision business, which includes Sierra Bullets and Barnes Bullets brands, for $160 million on a cash-free, debt-free basis.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 5:13 pm