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PHAT

Needham analyst Joseph Stringer has reiterated a Buy rating on Phathom Pharmaceuticals (NASDAQ:PHAT), raising the price target to $26 from $23 and adding it to the Needham Conviction List. Phathom's stock is expected to perform strongly in 2024 due to the launch of Voquezna in Erosive GERD and its anticipated approval and launch in Non-Erosive GERD (NERD). The analyst projects $55.6 million in Voquezna sales for 2024, which is above the consensus estimate of $46 million. Voquezna is seen as a potential best-in-class acid blocker with significant peak sales potential in various indications. Phathom's cash runway is expected to last through 2026, covering multiple value-driving events. PHAT shares recently traded slightly lower at $8.98.

Portfolio Pulse from Nabaparna Bhattacharya

January 05, 2024 | 6:52 pm

TRDA

Entrada Therapeutics' stock price has risen following Oppenheimer's initiation of coverage with an Outperform rating and a $22 price target.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:51 pm

IMCR

H.C. Wainwright analyst Patrick R. Trucchio has reiterated a Buy rating on Immunocore Holdings Plc (NASDAQ:IMCR) with a price target of $90. Immunocore announced upcoming data readouts and expanded its pipeline to include autoimmune diseases. The company has one approved drug, KIMMTRAK, and a broad pipeline in various stages of development. Immunocore is also expanding KIMMTRAK's access globally. The company reported a preliminary cash balance of $443 million as of 4Q23, which is expected to support ongoing initiatives. IMCR shares dropped by 4.92% to $66.25.

Portfolio Pulse from Nabaparna Bhattacharya

January 05, 2024 | 6:47 pm

AMD

Mizuho analyst Vijay Rakesh has maintained a Buy rating on Advanced Micro Devices (NASDAQ:AMD) and increased the price target from $130 to $162.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:46 pm

ALV

Mizuho analyst Vijay Rakesh has maintained a Buy rating on Autoliv (NYSE:ALV) and increased the price target from $106 to $115, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:45 pm

MBLY

Mizuho analyst Vijay Rakesh has maintained a Buy rating on Mobileye Global (NASDAQ:MBLY) but has reduced the price target from $48 to $42.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:42 pm

OLED

Oppenheimer analyst Martin Yang has maintained an Outperform rating on Universal Display (NASDAQ:OLED) and increased the price target from $180 to $210.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:39 pm

SG

Oppenheimer analyst Brian Bittner has maintained an Outperform rating on Sweetgreen (NYSE:SG) and increased the price target from $14 to $15.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:37 pm

SHAK

Oppenheimer analyst Michael Tamas has maintained an Outperform rating on Shake Shack (NYSE:SHAK) and increased the price target from $70 to $80.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:36 pm