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FMST

Foremost Lithium Resource & Technology Ltd. (NASDAQ:FMST) has announced plans for a 15-hole, 2,500-meter diamond drill program at the Jean Lake Lithium/Gold Property in Manitoba, Canada, targeting the B-1 spodumene-bearing pegmatite dyke. The drilling, expected to start in 1Q24, aims to expand exploration and potentially uncover more gold deposits and lithium mineralization. Past drilling revealed gold concentrations and adjacent areas showed high lithium concentrations. FMST has secured $3 million in credit financing for the program, with flexible repayment terms. Shares of FMST rose 10.98% to $3.74 in premarket trading on Tuesday.

Portfolio Pulse from Akanksha Bakshi

December 19, 2023 | 1:00 pm

ARVN

Arvinas Inc (NASDAQ:ARVN) has been analyzed by 9 analysts in the last quarter, with 4 bullish, 4 somewhat bullish, and 1 indifferent rating. The average 12-month price target is $38.44, down 15.39% from the previous $45.43. Analysts from firms like Wells Fargo, Jefferies, and Morgan Stanley have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Arvinas's financials show a revenue growth rate of 4.22% as of September 30, 2023, but lag behind industry peers. The company has a net margin of -184.97%, an ROE of -13.9%, an ROA of -5.98%, and a low debt-to-equity ratio of 0.01.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 1:00 pm

BKYI

BIO-key International, Inc. (NASDAQ:BKYI) has announced a 1-for-18 reverse stock split effective December 21, 2023, following stockholder approval. The reverse split aims to help the company regain compliance with Nasdaq's minimum bid price requirement. Prior to the split, BIO-key had approximately 16.9 million shares outstanding, which will be reduced to approximately 941,000 shares post-split. CEO Michael DePasquale emphasized the importance of Nasdaq listing for stockholder and corporate value, and the reverse split is seen as a step towards maintaining compliance and supporting the company's growth and profitability goals.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:00 pm

ILMN

Carl Icahn is intensifying his boardroom battle at Illumina Inc (NASDAQ:ILMN) by seeking to remove more directors after the company's decision to divest Grail Inc. Icahn, who successfully pushed for the ousting of former CEO Francis deSouza and the divestiture of Grail, now aims to remove 'legacy conflicted directors' whom he blames for poor decision-making and a significant drop in Illumina's share price. The activist investor's plans may change before the January 26 nomination deadline, with voting on nominees expected at the next annual general meeting.

Portfolio Pulse from Vandana Singh

December 19, 2023 | 12:58 pm

MAMA

Mama's Creations (MAMA) has announced the pricing of an underwritten public offering of 5.63 million shares at $3.50 each. The shares are being sold by stockholders affiliated with Matthew Brown and Karen Wolf, not by the company itself.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:46 pm

TRIN

TSHA

Trinity Capital has committed to providing $40 million in term loans to Taysha Gene Therapies, a company focused on the development of gene therapies for central nervous system disorders.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:43 pm

SYRS

Syros Pharmaceuticals has announced an underwritten public offering of 4.9 million shares at $4.42 per share and pre-funded warrants to purchase an additional 5,242,588 shares at $4.419 each. The gross proceeds from the offering are expected to be approximately $45 million.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:36 pm

AZN

CGEN

Compugen announced it will receive a $10M milestone payment once the first patient is dosed in AstraZeneca's Phase 3 trial of Rilvegostomig for biliary tract cancer.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:12 pm

UBER

Uber Technologies (NYSE:UBER) has been rated by 15 analysts in the last quarter, with 6 bullish and 9 somewhat bullish ratings. The average price target is $62.93, with a high of $75.00 and a low of $51.00. Notably, the average price target has increased by 4.02% in the last month. Analysts have taken actions such as maintaining and raising their ratings and price targets. Uber's market cap is above industry benchmarks, with a revenue growth of 11.37% and a net margin of 2.38%. However, its ROE of 2.45% is below industry averages, while its ROA of 0.63% and debt-to-equity ratio of 1.17 indicate strong financial health.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 12:00 pm

CARA

Cara Therapeutics (NASDAQ:CARA) has received 4 analyst ratings in the last quarter, with 3 being bullish and 1 indifferent. The average 12-month price target among these analysts is $4.12, with a high of $7.00 and a low of $1.00, marking a 70.57% decline from the prior average. Analysts from HC Wainwright & Co. and Piper Sandler have lowered their price targets, reflecting changes in market conditions and company performance. Cara Therapeutics is a biotech company developing therapeutics for pain and pruritus, facing revenue challenges with a -55.0% decline over 3 months as of September 30, 2023, but has a strong net margin of -576.08% and a low debt-to-equity ratio of 0.09.

Portfolio Pulse from Benzinga Insights

December 19, 2023 | 12:00 pm