Streetbeat News

Price Targets

GLBE

Analysts have provided bullish and somewhat bullish ratings for Global E Online (NASDAQ:GLBE) in the last quarter, with no bearish or indifferent ratings. The company has an average 12-month price target of $43.25, an increase of 20.14% from the previous average price target of $36.00.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 9:00 pm

PTGX

VTYX

JMP Securities has increased the price target for Protagonist Therapeutics Inc (PTGX) from $28 to $35, citing impressive psoriasis data from the Phase 2b FRONTIER 1 trial. The trial data supports JNJ-2113 as the most efficacious oral agent in development for psoriasis. However, the shares fell as the data fell short of injectables. The shares have not fully recovered, partly due to upcoming data from Ventyx Biosciences Inc’s (VTYX) oral TYK2 inhibitor VTX958.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 7:48 pm

ITCI

Needham has increased the price target for Intra-Cellular Therapies Inc (NASDAQ:ITCI) from $70 to $73, maintaining a Buy rating. The analyst anticipates success in the major depressive disorder (MDD) trial but assigns it a 60% PoS due to inherent risks. The stock has risen 33% since positive Phase 3 data, indicating some anticipated upside is already in the shares. Needham also raised the 2023 sales estimate for Caplyta, a product of ITCI, to $467M.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 7:38 pm

NBIX

VYGR

BMO Capital Markets has upgraded Neurocrine Biosciences Inc (NBIX) from Underperform to Market Perform, with a price target of $96, up from $91. The upgrade follows a survey of psychiatrists treating tardive dyskinesia, which increased BMO's confidence in the durability of Neurocrine's drug, Ingrezza. BMO also noted that Neurocrine's pipeline lacks strength and depth. Neurocrine and Voyager Therapeutics Inc (VYGR) formed a collaboration earlier this year to advance gene therapies for neurological diseases.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 7:12 pm

INST

KeyBanc Capital Markets analyst Devin Au initiated coverage on Instructure Holdings, Inc. (NYSE:INST) with an Overweight rating and a price target of $32. The analyst sees growth opportunities in international and cross-sells, positioning Instructure as the leader in the education learning management system market. The company is expected to benefit from government funding passed during the pandemic to support education initiatives. The analyst expects FY23 revenues of $524.6 million, and FY24 revenues of $577.3 million.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 7:01 pm

BILL

Piper Sandler analyst Brent A. Bracelin has reiterated an Overweight rating on BILL Holdings, Inc. (NYSE:BILL), raising the price target to $165 from $110. The analyst expects BILL's revenue to increase sevenfold to more than $1 billion in 2023 from less than $160 million three years ago. The analyst also expects 4Q revenues to be $286.27 million, up 43% year over year. FY23 revenues are expected to jump 63.4% to $1.05 billion.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 6:56 pm

GLBE

SHOP

Piper Sandler analyst Brent A. Bracelin has reiterated an Overweight rating on Global-E Online Ltd. (GLBE) and raised the price target to $54 from $38. The analyst is bullish on Global-E's new product catalyst (enabling Shopify Markets Pro) that could accelerate growth in 2024 and 2025. Shopify Inc. (SHOP) owns a 13% stake in GLBE. Global-E is powering $1 billion gross merchandise volume (GMV) at Shopify, representing just 4% of the potential $28 billion cross-border GMV opportunity at Shopify. Every $1 billion of incremental Shopify cross-border GMV could add $160 million+ in total Global-E revenue.

Portfolio Pulse from Nabaparna Bhattacharya

July 06, 2023 | 6:53 pm

PYPL

A significant amount of unusual options activity has been observed for PayPal Holdings (NASDAQ:PYPL), with a bearish stance being taken by a 'whale' investor. Of the 45 unusual trades detected, 48% were bullish and 51% were bearish. The total amount for puts was $648,897 and for calls was $1,560,484. The price target range for PayPal over the last 3 months has been $55.0 to $140.0. The company's stock price is currently down by 3.89% at $66.17. Several firms have downgraded their ratings for PayPal, with price targets ranging from $72 to $86.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 6:16 pm

MSFT

Morgan Stanley analyst Keith Weiss maintains an Overweight rating on Microsoft Corp (NASDAQ:MSFT) and raises the price target from $335 to $415. Weiss believes that Microsoft is well-positioned to benefit from the rapid innovation in Generative AI technologies, which could lead to significant productivity gains in enterprise software. He estimates a $90 billion incremental opportunity for Microsoft in FY25 and raises his GAAP EPS estimates for FY25 from $13.59 to $13.84. MSFT shares traded higher by 1.16% at $342.07 on the last check Thursday.

Portfolio Pulse from Anusuya Lahiri

July 06, 2023 | 5:30 pm

VMC

Analysts have provided various ratings for Vulcan Materials (NYSE:VMC) in the last quarter, with a total of 9 analysts offering 12-month price targets. The average price target for the company is $215.33, with a high of $235.00 and a low of $186.00. This average price target has increased by 7.01% over the past month.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 5:00 pm