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PTC

PTC has announced a partnership with Trax to integrate Trax's platforms with PTC's Servigistics, aiming to streamline aircraft MRO maintenance activities for improved uptime and customer satisfaction by ensuring the timely availability of critical parts.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:07 pm

PCYO

Pure Cycle Corporation (PCYO) CEO Mark Harding announced record year-to-date water sales to oil and gas customers for 2024, with a positive outlook for the second half of the year. Additionally, the company's Sky Ranch Master Planned community is expanding rapidly, with three phases of lot development currently under construction. This expansion includes the completion of approximately 211 lots in Phase 2B and significant progress on 228 lots in Phase 2C.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:06 pm

ALPN

VRTX

Vertex Pharmaceuticals' subsidiary is set to initiate a cash tender offer to acquire all outstanding shares of Alpine Immune Sciences. The deal, expected to close in Q2 2024, focuses on Alpine's lead molecule, povetacicept (ALPN-303), which has shown promising efficacy in treating IgA nephropathy (IgAN), a serious kidney disease with no approved therapies targeting its cause. Povetacicept is anticipated to enter Phase 3 trials in H2 2024.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 8:05 pm

NVLHF

Nevada Lithium CEO Stephen Rentschler highlighted a critical supply-demand imbalance in the lithium market, exacerbated by surging demand from the EV sector. The industry needs to increase production from 500,000 tons to 2-3 million tons by 2030. Nevada Lithium's Bonnie Claire project, with recent high-grade lithium findings, is positioned as a key player to address this challenge. The project's economic prospects are promising, with significant leverage to lithium prices.

Portfolio Pulse from Abbey Higginbotham

April 10, 2024 | 7:52 pm

APP

Josh Brown of Ritholtz Wealth Management is considering buying shares of AppLovin Corp (NASDAQ:APP), the best performing stock in the Russell 1000 Index for the year, due to its significant price recovery and strong fundamentals in AI advertising. AppLovin, which went public in April 2021, saw its stock price plummet in 2022 but has rebounded with a 93% increase year-to-date in 2024. Brown is waiting for a pullback to the 50-day moving average in the low $70s before buying. Analysts predict a 27% earnings growth for AppLovin in 2024, highlighting its expanding margins and dominant position in the AI ad space.

Portfolio Pulse from Adam Eckert

April 10, 2024 | 7:40 pm

AMPH

LLY

Amphastar Pharmaceuticals Inc (NASDAQ:AMPH) is exploring potential acquisitions in the endocrinology sector, leveraging its commercial infrastructure around Baqsimi, an inhaled glucagon product for severe hypoglycemia. At the Needham Healthcare Conference, the company expressed optimism about Baqsimi's market potential, citing its difficult-to-genericize nature and IP protection until 2036. Baqsimi, competing mainly with Gvoke, is expected to significantly increase its sales from $153 million in 2023 to a peak of $250-270 million. Despite a projected modest increase in product units sold and a slight decrease in prices in 2024 due to higher wholesaler fees paid by Eli Lilly And Co (NYSE:LLY), Amphastar anticipates new opportunities amid potential market re-entries by competitors. With $300 million in cash reserves and strong cash flow, Amphastar is considering debt financing for acquisitions. Needham maintains a Hold rating on AMPH, whose shares recently dropped 2.33% to $39.95.

Portfolio Pulse from Vandana Singh

April 10, 2024 | 7:24 pm

ABBV

LENZ

LENZ Therapeutics Inc (NASDAQ:LENZ) released promising Phase 3 results for its investigational eye drops, LNZ100 and LNZ101, aimed at treating presbyopia. LNZ100 met primary and key secondary endpoints, showing significant improvement in near visual acuity without compromising distance vision. Citigroup initiated coverage on LENZ with a Buy rating and a $34 price target, highlighting the potential of LNZ100 to revolutionize presbyopia treatment. This comes as a significant development, especially when compared to AbbVie Inc's (NYSE:ABBV) Vuity, which has shown limitations in duration and safety. LENZ's shares rose 3.36% to $21.20.

Portfolio Pulse from Vandana Singh

April 10, 2024 | 7:19 pm

EWZ

PBR

A Reddit user, SunsetKittens, highlights Petrobras (NYSE:PBR) as a compelling investment, citing its undervaluation and strong financials despite potential risks under President Lula's green energy focus. The iShares MSCI Brazil ETF (NYSE:EWZ), which includes Petrobras as its second-largest holding, offers broader exposure to Brazil's equity market. The discussion reflects mixed opinions on Petrobras' future amidst government policy uncertainties.

Portfolio Pulse from Surbhi Jain

April 10, 2024 | 7:14 pm

ALPN

NVS

Alpine Immune Sciences Inc (NASDAQ:ALPN) is exploring strategic options, including a potential sale, due to interest from buyers. The company's stock has risen over 400% in the past year, partly due to promising clinical data on povetacicept for autoimmune glomerulonephritis. Novartis AG (NASDAQ:NVS) acquired Chinook Therapeutics last year, highlighting the growing interest in kidney disease treatments.

Portfolio Pulse from Vandana Singh

April 10, 2024 | 7:07 pm

GERN

In the last three months, Geron (NASDAQ:GERN) received diverse analyst ratings, with a shift towards more bullish perspectives in the recent 30 days. The average 12-month price target for GERN is now $4.75, up from $4.00, indicating an 18.75% increase. Analysts from Wedbush, Needham, and Goldman Sachs have maintained or raised their ratings and price targets, reflecting optimism about Geron's future performance. Geron, a clinical-stage biopharmaceutical company, is focused on developing cancer treatments but has seen a significant decline in revenue growth (-77.67%) and struggles with profitability and financial performance.

Portfolio Pulse from Benzinga Insights

April 10, 2024 | 7:01 pm