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KURA

Mizuho initiated coverage on Kura Oncology Inc (NASDAQ:KURA), highlighting the potential of its lead program ziftomenib for treating r/r NPM1-m AML. The firm sees a higher likelihood of success as more data becomes available, which could double the market reach and positively impact KURA's valuation. Analysts Mara Goldstein and Jerry Gong issued a Buy rating with a $26 price target. KURA shares rose 9.73% to $13.79 after the coverage initiation.

Portfolio Pulse from Vandana Singh

December 22, 2023 | 5:50 pm

SNEX

StoneX Group Inc. (NASDAQ:SNEX) has implemented Swift's new Payment Pre-validation service for cross-border payments, aiming to reduce errors and improve transaction speed and customer experience. The service includes real-time validation of beneficiary account details and other enhancements. SNEX shares rose by 1.68% to $71.44.

Portfolio Pulse from Nabaparna Bhattacharya

December 22, 2023 | 5:43 pm

DoubleVerify Holdings Inc (NYSE:DV) is expected to see a 23% revenue growth in 2024, the fastest among all digital advertising companies covered by Needham. Analyst Laura Martin maintains a Buy rating and a price target of $45. The growth is attributed to several factors including social video impression growth, the SciBids acquisition, margin expansion, free cash flow growth, GenAI, retail media networks, immunity to cookie deprecation, and strong asset productivity trends. The digital advertising industry's growth suggests a long-term growth runway for DV, with a potential $800mm yearly revenue upside from CTV ad impressions verification. DV shares rose by 2.74% to $37.52.

Portfolio Pulse from Priya Nigam

December 22, 2023 | 5:40 pm

BNZI

Banzai International, Inc. (NASDAQ:BNZI) has launched the Banzai Research Hub, offering free marketing data and insights to marketers. The hub aims to empower marketers with data-driven decision-making capabilities. Alongside the launch, Banzai released its first report on marketing attribution trends based on a survey of marketing professionals. The news also highlighted that Banzai's CEO, Joe Davy, purchased additional shares of Banzai stock in the open market, with a Form 4 filing to follow. BNZI shares dropped by 2.78% to $3.500 in recent trading.

Portfolio Pulse from Nabaparna Bhattacharya

December 22, 2023 | 5:26 pm

ADN

ALVR

BMY

DSKE

KRTX

NCPL

RMCO

U.S. stocks traded higher with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Karuna Therapeutics surged 47% after an acquisition announcement by Bristol Myers Squibb. Royalty Management and Daseke also saw significant stock increases due to positive company developments. Conversely, AlloVir, Advent Technologies, and Netcapital experienced substantial drops in share prices following negative updates. Gold prices increased, while oil saw a slight uptick. Consumer sentiment in the U.S. improved slightly in December.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 5:18 pm

AMZN

GOOG

GOOGL

MSFT

NVDA

At AWS re:Invent, Amazon emphasized AI to compete with Microsoft and Google's advancements in generative AI. AWS, on track to earn $90 billion this year, is investing in AI, including foundational models and a chatbot, in partnership with Nvidia and Anthropic. Amazon's stock has risen 79% YTD, outperforming Microsoft's 56% gain. However, AMZN shares dipped slightly by 0.25% in the last check.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 5:17 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) stock is up after JMP Securities and Mizuho analysts raised their price targets. JMP's Devin Ryan set a new target of $200, citing the potential of blockchain technology and digital asset ecosystem growth. Mizuho's Dan Dolev increased his target to $54, noting excitement over possible spot Bitcoin ETFs. COIN shares have surged over 60% in the past month and are up 400% YTD, reaching a new 52-week high of $178.05.

Portfolio Pulse from Erica Kollmann

December 22, 2023 | 5:08 pm

BMY

KRTX

Bristol Myers Squibb & Co (NYSE:BMY) has agreed to acquire Karuna Therapeutics Inc (NASDAQ:KRTX) for $14 billion, or $12.7 billion net of cash acquired. The acquisition at $330.00 per share reflects Bristol Myers' strategy to bolster its neuroscience pipeline and counter upcoming loss of exclusivities. Karuna's lead drug, KarXT, shows promise in schizophrenia and other indications, with potential multibillion-dollar revenue. William Blair maintains a Market Perform rating for Bristol Myers, awaiting further details on the commercial portfolio. BMY shares rose 3.01% to $52.81.

Portfolio Pulse from Vandana Singh

December 22, 2023 | 5:08 pm

ALNY

AZN

IONS

The FDA approved AstraZeneca and Ionis Pharmaceuticals' Wainua for polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults. William Blair projects over $700 million in peak sales for Wainua and maintains an Outperform rating for Ionis, considering it a top pick for 2024. The analyst expects Wainua's price to match Alnylam's Amvuttra at around $463,500 per year, with a net price projection of $291,000. The ATTR-PN market is seen as large enough for multiple competitors, with potential indication expansion being a key commercial opportunity. Ionis shares rose 5.30% to $51.72.

Portfolio Pulse from Vandana Singh

December 22, 2023 | 5:04 pm

ISRG

Truist Securities has reaffirmed its Buy rating on Intuitive Surgical (NASDAQ:ISRG) and increased its price target from $375.00 to $390.00. Despite a slight decline in share price over the last 24 hours, the new price target suggests a potential upside of 17.57% from the current price of $331.72. Intuitive Surgical is known for its da Vinci robotic surgical systems, with over 8,000 units installed globally.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 5:00 pm