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RNA

Avidity Biosciences (NASDAQ:RNA) has received diverse analyst ratings over the last three months, with a significant upward trend in its 12-month price target to $37.29, indicating a 62.13% increase from the previous average of $23.00. Analysts from firms like B of A Securities, Needham, Cantor Fitzgerald, and Chardan Capital have adjusted their ratings and price targets, reflecting a bullish outlook on the company. Despite this optimism, Avidity Biosciences faces challenges in revenue growth and efficiency metrics, with a notable revenue decline of -20.8% and concerns in net margin, ROE, and ROA.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 12:00 pm

ENOV

Recent analyst ratings for Enovis (NYSE:ENOV) show a mix of bullish sentiments with an updated average 12-month price target of $78.67, reflecting a 7.77% increase from the previous target. The company's financial performance indicates strong revenue growth, profitability, and efficient asset and debt management, positioning it favorably in the medical technology sector.

Portfolio Pulse from Benzinga Insights

May 03, 2024 | 12:00 pm

CGC

Canopy Growth Corporation (CGC) announced a financing deal expected to bring in US$50 million in gross proceeds and the exchange of approximately C$27.5 million of existing debt for a new convertible debenture, aiming to strengthen its balance sheet. The agreement with an institutional investor involves issuing a senior unsecured convertible debenture maturing five years from the closing date, set for May 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:37 am

ABEO

Abeona Therapeutics has announced the pricing of an underwritten offering consisting of 12.28 million shares and pre-funded warrants to purchase an additional 6.1 million shares. The price is set at $4.07 per share and $4.0699 per pre-funded warrant, aiming to raise gross proceeds of approximately $75 million.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:35 am

LNG

Cheniere Energy has reaffirmed its financial guidance for the year 2024, projecting a Consolidated Adjusted EBITDA between $5.5 billion and $6 billion, and a Distributable Cash Flow ranging from $2.9 billion to $3.4 billion.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:35 am

NSC

Ancora, a shareholder in Norfolk Southern (NSC), has announced that three independent proxy advisory firms recommend NSC shareholders to vote for a change in the company's boardroom. This move suggests a significant push for corporate governance changes within Norfolk Southern, reflecting potential shifts in strategic direction or operational focus that could impact the company's future performance.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:07 am

AAPL

QQQ

SPY

Wall Street anticipates continued upward momentum, buoyed by Apple's positive earnings report, which included a significant buyback program and a dividend hike. However, upcoming non-farm payrolls data and wage inflation measures may influence market sentiment. Premarket trading saw gains in SPDR S&P 500 ETF Trust and Invesco QQQ ETF. Other stocks showed varied movements based on their earnings reports. The market's direction may hinge on inflation trends and the Federal Reserve's interest rate decisions.

Portfolio Pulse from Shanthi Rexaline

May 03, 2024 | 11:03 am

UNIT

Uniti Group is set to merge with Windstream Holdings II, with Uniti shareholders owning approximately 62% of the combined company's outstanding common equity. Windstream shareholders will receive $425 million in cash, $575 million of preferred equity, and common shares representing about 38% of the outstanding common equity. This strategic merger aims to consolidate their market positions and resources.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 11:03 am

AAPL

Apple's stock is on the rise following the announcement of robust Q2 earnings, an increase in its dividend, and the authorization of an additional $110 billion for stock repurchases.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:55 am

FLR

Fluor Corporation has reaffirmed its fiscal year 2024 adjusted earnings per share (EPS) guidance to be in the range of $2.50 to $3.00, compared to the estimated $2.79. Additionally, the company expects its adjusted EBITDA to be between $600 million and $700 million.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:54 am