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MTEM

Molecular Templates' stock is trading higher following the announcement of a $9.5 million private placement offering.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:21 pm

SPY

VEEV

VHT

XLV

Gregory DiMarzio from Rockland Trust highlighted the healthcare sector's potential for growth despite its underperformance YTD. He noted that healthcare ETFs like XLV and VHT have seen gains but lag behind the broader market SPY. DiMarzio is bullish on Veeva Systems (VEEV), a cloud-computing company serving the pharmaceutical and life sciences industries, citing its significant growth opportunity. The global market for cloud computing in pharmaceuticals is expected to reach $60 billion by 2030, indicating a strong potential for VEEV.

Portfolio Pulse from Surbhi Jain

March 28, 2024 | 1:18 pm

BK

Bank of New York Mellon (NYSE:BK) has seen a 9.89% increase in short interest since its last report, with 7.57 million shares sold short, representing 1.0% of its float. The short interest is below its peer group average of 2.46%. This rise in short interest indicates a more bearish market sentiment towards BK, but it's also noted that an increase in short interest can sometimes be bullish for a stock.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 1:15 pm

FSBC

Five Star Bancorp (NASDAQ:FSBC) announced the pricing of its underwritten public offering of 3.45 million shares at $21.75 each, expecting to raise approximately $70.9 million. The proceeds are intended for general corporate purposes and to support growth, including investments in Five Star Bank. The offering, managed by Keefe, Bruyette & Woods, Stephens Inc., and D.A. Davidson & Co., is expected to close around April 2, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:08 pm

AVTX

Avalo Therapeutics' shares surged following the announcement of its acquisition of a Phase 2-ready anti-IL-1β monoclonal antibody, AVTX-009, through the purchase of AlmataBio. Additionally, Avalo disclosed a private placement financing deal worth up to $185 million.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:08 pm

ERAS

Erasca's stock price increased following the announcement of a $45 million private placement financing.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:03 pm

EHC

Encompass Health (NYSE:EHC) has received mixed analyst ratings over the past three months, with 6 analysts offering evaluations. The sentiment has shifted slightly positive, with the average 12-month price target rising to $88.67 from $84.67. Analysts from Barclays, Truist Securities, RBC Capital, Mizuho, and Stephens & Co. have provided updates, with actions including raising and maintaining ratings, and adjusting price targets. Encompass Health's financial performance shows strong market position, revenue growth, profitability, and effective asset utilization, despite facing challenges in achieving growth rates higher than the average in the Health Care sector.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 1:00 pm

AZTA

Analysts have diverse opinions on Azenta (NASDAQ:AZTA), with recent evaluations showing a mix of bullish and indifferent stances. Over the last three months, 7 analysts provided ratings, with the majority being bullish. The average 12-month price target for AZTA has been raised to $75.00 from $70.00, indicating a positive outlook. Azenta's financial performance shows challenges in revenue growth and return metrics, but efficient cost management and prudent debt strategy are noted positives.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 1:00 pm

OMC

In the last three months, 5 analysts have updated their ratings on Omnicom Group (NYSE:OMC), showing a mix of bullish and indifferent stances. The average 12-month price target has risen to $104.6, marking a 20.69% increase from the previous target. Analysts from firms like Exane BNP Paribas, Wells Fargo, Barclays, UBS, and Macquarie have adjusted their ratings and price targets, reflecting a positive outlook on OMC's performance. Omnicom's financials show strong revenue growth, net margin, ROE, and ROA, despite a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 1:00 pm

NKE

SN

SharkNinja Inc (NYSE:SN) has appointed Patraic Reagan, a former Nike Inc. (NYSE:NKE) executive, as its new CFO effective April 22, 2024. Reagan's experience includes serving as CFO for Nike's Asia, Pacific, and Latin America segment. Larry Flynn, the Interim CFO since June 2023, will resume his role as Chief Accounting Officer. SharkNinja's shares closed higher by 3.37% at $62.94 following the announcement.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 12:56 pm