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PSIL

A new study suggests suggestibility plays a role in the antidepressant effects of psilocybin therapy. The EU has allocated $7M for psychedelic research for various disorders. In Australia, the first psychedelic-assisted medical treatments in 50 years were provided. Incannex Healthcare's CEO discussed the company's role in psychedelic-assisted therapies on the Benzinga Psychedelics Podcast. Psychedelics stocks showed varied performance, with COMPASS Pathways, GH Research, and Incannex Healthcare closing higher, while others like Seelos Therapeutics and Enveric Biosciences closed lower. The AdvisorShares Psychedelics ETF (PSIL) closed at $1.43.

Portfolio Pulse from Lara Goldstein

January 27, 2024 | 3:00 pm

BTCUSD

Chris Burniske, former crypto lead at Ark Invest, predicts Bitcoin could drop to $30,000-$36,000 and possibly mid-high $20,000s before reaching new highs. Despite a recent surge, Bitcoin had fallen nearly 20% after the debut of spot bitcoin ETFs. Analysts like Justin Bennett suggest Bitcoin could fall to $10,000-$15,000. The Bitcoin halving in April may affect profitability for Bitcoin miners. An Ethereum advocate criticized the crypto market as an 'unhinged casino'. Bitcoin trades at $41,787, up 3.99%.

Portfolio Pulse from Rounak Jain

January 27, 2024 | 8:44 am

RIVN

TSLA

Rivian CEO RJ Scaringe agrees with Tesla CEO Elon Musk on the importance of EV affordability for adoption. Scaringe discussed the lack of diverse EV options at different price points as a barrier. Rivian plans to introduce the R2, a lower-priced EV under $50,000, with production starting in 2026. Tesla is also working on a more affordable vehicle, with production expected in late 2025. Both companies currently offer models that are eligible for federal EV tax credits.

Portfolio Pulse from Anan Ashraf

January 27, 2024 | 7:51 am

TSLA

Fund manager David Baron predicts a 550% increase in Tesla Inc.'s (NASDAQ:TSLA) stock value by 2030, with an interim target of $300 within the next 12 months from its current price of $183.25. Despite Tesla's lower growth rate outlook for 2024 and a 13.6% stock fall since Monday, Baron remains optimistic, citing Elon Musk's leadership. Baron's fund, which holds Tesla and SpaceX as its largest assets, outperformed the S&P 500 in 2023. He also forecasts significant valuation increases for SpaceX over the next five years.

Portfolio Pulse from Anan Ashraf

January 27, 2024 | 7:35 am

ASML

ASML Holding (NASDAQ:ASML) has received mixed analyst ratings over the past three months, with 4 analysts offering bullish and somewhat bullish perspectives. The average 12-month price target is $957.0, a significant increase from the previous $782.75, indicating a positive sentiment shift. Analysts from Susquehanna, Raymond James, and JP Morgan have raised their price targets, reflecting confidence in ASML's market performance and financial health. ASML, a leader in photolithography systems for semiconductor manufacturing, shows strong financial indicators such as revenue growth, net margin, ROE, and ROA, and maintains a conservative debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 9:01 pm

HES

In the last three months, 4 analysts have published diverse ratings on Hess Corporation (NYSE:HES), with 2 bullish and 2 indifferent ratings. The average 12-month price target is $171.0, down 8.23% from previous estimates. Analysts from Susquehanna, UBS, Argus Research, and Bernstein have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Hess, an independent oil and gas producer, reported net proved reserves of 1.3 billion barrels and an average net production of 344 thousand barrels per day in 2022. The company's financials show a market cap above industry average, a revenue decline of -10.31%, a net margin of 18.0%, an ROE of 5.96%, an ROA of 2.22%, and a debt-to-equity ratio of 1.08.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 9:00 pm

V

Susquehanna analyst James Friedman has maintained a Positive rating on Visa (NYSE:V) and increased the price target from $300 to $326.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 8:49 pm

BTCUSD

ETHUSD

Ethereum advocate Polynya criticizes the cryptocurrency market, calling most crypto assets 'grotesquely overvalued' and likening the market to an 'unhinged casino.' Polynya argues that the industry lacks significant product-market fit, with Bitcoin remaining the dominant asset due to its role as a speculative store-of-value. Despite the hype around cryptocurrencies going mainstream, retail investors remain skeptical, with expectations that Bitcoin's price could fall below $20,000 by 2024. Meanwhile, Bitcoin has seen a recent 5% increase in price.

Portfolio Pulse from Ivan Crnogatić

January 26, 2024 | 8:48 pm

PXD

Susquehanna analyst Biju Perincheril has maintained a Neutral rating on Pioneer Natural Resources (PXD) but lowered the price target from $250 to $237.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 8:47 pm

NOC

Susquehanna analyst Charles Minervino has maintained a Positive rating on Northrop Grumman (NYSE:NOC) but has reduced the price target from $560 to $540.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 8:46 pm