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Equity Actions

GERN

Geron Corporation (NASDAQ:GERN) announced a $150M underwritten offering of common stock and pre-funded warrants, with participation from major investment firms. The proceeds are intended for the commercialization and development of imetelstat. TD Cowen, Stifel, and Barclays are the joint book-running managers, with Wedbush PacGrow as co-manager.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 1:07 pm

WKHS

Workhorse Group Inc. (NASDAQ:WKHS) announced an agreement with an institutional investor for financing transactions up to $139M to support its zero emission commercial vehicles roadmap. The deal includes senior secured convertible notes and warrants, with an immediate $9M note and related warrants issued to provide liquidity for operations and redeem existing debt.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 1:05 pm

ALKS

Alkermes (NASDAQ:ALKS) has received mixed analyst ratings over the past three months, with an average 12-month price target of $32.5, reflecting a 12.07% increase from the previous target. Analysts from Baird, UBS, Piper Sandler, and B of A Securities have provided varying ratings and price targets, indicating diverse perspectives on the company's performance. Alkermes, a biotechnology firm, has shown significant revenue growth and profitability, with a notable net margin and ROE, despite a market capitalization below industry averages.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 1:01 pm

MOD

Modine Manufacturing (NYSE:MOD) has received diverse analyst ratings over the past quarter, with a shift towards more bullish sentiments in the last 30 days. Analysts have updated their price targets, indicating a positive outlook with an average target of $89.00, reflecting a 24.91% increase from the previous average of $71.25. The company, known for its thermal management solutions, shows strong market presence and profitability but faces challenges in revenue growth and return on equity compared to industry peers.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 1:00 pm

MRSN

Mersana Therapeutics (NASDAQ:MRSN) has received mixed analyst ratings over the past three months, with a shift towards a more positive outlook. The average 12-month price target has increased by 65% to $6.6. Analysts from JP Morgan, Wedbush, Truist Securities, Baird, and Guggenheim have provided updates, with actions ranging from 'Announces' to 'Raises'. The company's financials show a decline in revenue growth and challenges in ROE, but strong net margin and ROA. Mersana is a clinical-stage biopharmaceutical company with several early and preclinical stage programs.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 1:00 pm

TEAM

Seven analysts have recently reviewed Atlassian (NASDAQ:TEAM), showing diverse opinions with an average 12-month price target of $252.14, indicating a 15.89% increase from the previous target. The company's financial performance includes a revenue growth rate of 21.47% as of December 31, 2023, but struggles with below-industry net margin, ROE, ROA, and high debt-to-equity ratio. Analyst actions range from lowering to raising price targets and ratings, reflecting evolving market conditions and company performance.

Portfolio Pulse from Benzinga Insights

March 19, 2024 | 1:00 pm

FATE

Fate Therapeutics has announced the pricing of a $100 million underwritten offering and a concurrent private placement. This move is aimed at raising capital, potentially for further research, development, and expansion of their operations.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:45 pm

BTCUSD

The Government Pension Investment Fund (GPIF) of Japan, the world's largest pension fund, is exploring Bitcoin (BTC) as a diversification asset amid its significant value rally. GPIF is researching various 'illiquidity assets' including Bitcoin, forests, and farmland. This interest aligns with Bitcoin reaching new all-time highs, following a year of over 130% value increase, partly due to the launch of Bitcoin ETFs in the U.S. The move reflects a shift in institutional attitudes towards cryptocurrency, despite its volatility.

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 12:44 pm

GNPX

Genprex has announced a $6.5 million registered direct offering priced at-the-market under Nasdaq rules. This move is aimed at raising capital, potentially for further research, development, or operational expansion.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:39 pm

ELVN

Enliven Therapeutics announced a $90M private placement financing, with participation from new and existing investors. The net proceeds are expected to extend the company's cash runway into late 2026, supporting key clinical milestones for ELVN-001 and ELVN-002. An event with KOLs is scheduled for April 11, 2024, to discuss Phase 1a trial data of ELVN-001 in adults with chronic myeloid leukemia.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 12:36 pm