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RIVN

Rivian announced plans to open its fast-charging network to all electric vehicles by late 2024, leading to a rise in its share price.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:57 pm

ABBV

CI

CVS

Evernorth Health Services, a subsidiary of The Cigna Group (NYSE:CI), announced its Accredo arm will offer a Humira biosimilar with no out-of-pocket costs to patients. This initiative, starting in June, is expected to save patients an average of $3,500 annually. The biosimilar, produced for Quallent Pharmaceuticals, is priced about 85% lower than Humira, AbbVie Inc's (NYSE:ABBV) arthritis drug. Despite the introduction of biosimilars, AbbVie has retained over 98% of the Humira market. CVS Health Inc's (NYSE:CVS) pharmacy benefits unit has begun shifting prescriptions to biosimilars, impacting Humira's market share.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:41 pm

MBLY

NVDA

QCOM

Mobileye Global Inc (NASDAQ:MBLY) reported a significant 48% year-on-year revenue decline for Q1, attributed to stiff competition and a surprising downturn in EV adoption. Analyst Adam Jonas from Morgan Stanley downgraded Mobileye's rating from Equal-Weight to Underweight and lowered the price target from $26 to $25, citing limited near-term growth potential for its SuperVision product due to reduced EV adoption and increased competition from companies like Nvidia Corp (NASDAQ:NVDA), Qualcomm Inc (NASDAQ:QCOM), and others exploring ADAS technologies.

Portfolio Pulse from Priya Nigam

April 26, 2024 | 6:36 pm

ALPN

VRTX

Vertex Pharmaceuticals Inc (VRTX) has seen significant success with its cystic fibrosis drug Trikafta, generating $26 billion in revenues since 2019 and expected to reach $10 billion in annual sales next year. The company is now focusing on developing non-opioid painkillers, with VX-548 in late-stage trials and potential FDA approval this year. Vertex also acquired Alpine Immune Sciences Inc (ALPN) for $4.9 billion to develop treatments for autoimmune kidney disease. Analysts predict Vertex's new pain medication could bring in $2.3 billion in annual sales by 2030.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:34 pm

VKTX

Viking Therapeutics (NASDAQ:VKTX) has seen significant options trading activity, with a bullish sentiment prevailing among financial giants. Analysis revealed 27 unusual trades, with a majority being calls. The trading activity suggests a focus on a price band between $20.0 and $115.0. The company, specializing in biopharmaceutical development for metabolic and endocrine disorders, is currently trading up by 4.23% at $71.77. Analyst ratings from HC Wainwright & Co. have set a target price at $90.0.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 6:31 pm

CSLLY

PFE

The FDA approved Pfizer Inc's gene therapy, Beqvez, for hemophilia B in adults, offering a one-time treatment alternative to regular intravenous infusions. Beqvez demonstrated significant efficacy in the BENEGENE-2 Phase 3A study, leading to a median annualized bleeding rate of zero. Pfizer has launched a warranty program for Beqvez, priced at $3.5 million in the U.S., and is awaiting approval in Europe while already approved in Canada. Pfizer's stock rose 0.88% to $25.48 following the announcement.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:30 pm

CGEM

Cullinan Therapeutics' shares are trading higher following the announcement that clinical data from its Phase 1 trial of CLN-619 for advanced solid tumors will be presented at the 2024 ASCO Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:27 pm

CAVA

CAVA Group shares are trading higher without any company-specific news from today's session. The recent announcement of its first Chicago restaurant could be influencing investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:21 pm

RIVN

Rivian has announced plans to open its fast-charging network to all electric vehicles (EVs) by late 2024. This move is expected to significantly enhance the EV charging infrastructure and make Rivian's network more accessible to a broader range of EV users, potentially increasing the utility and attractiveness of Rivian's charging solutions.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:15 pm

BTCUSD

Arthur Hayes, BitMEX Co-founder, encourages crypto investors to maintain their conviction in the ongoing bull market, emphasizing the macroeconomic environment of currency debasement as a fundamental reason for the crypto rally. He advocates for a 'Left Curve' mentality of buying and holding cryptocurrencies, highlighting Bitcoin's increasing institutional adoption and potential as a hedge against currency debasement and negative real yields. Hayes predicts further economic stimulus measures ahead of the 2024 U.S. presidential election, bolstering Bitcoin's appeal.

Portfolio Pulse from Khyathi Dalal

April 26, 2024 | 6:15 pm