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ARGX

Morgan Stanley has maintained its Overweight rating on argenx (NASDAQ:ARGX) but reduced its price target from $607.00 to $586.00. Despite the reduction, the new target suggests a potential upside of 34.62% from the current price of $435.29. Argenx specializes in antibody engineering for rare autoimmune diseases and has had its drug Vyvgart approved in the U.S., Europe, and Japan.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 5:00 pm

LITP

At Benzinga's 'ETFs Unlocked' Conference, Sprott Asset Management CEO John Ciampaglia highlighted the growing adoption of electric vehicles (EVs) and the consequent 'astronomical' demand for lithium over the next 3-5 years as the world transitions to EVs.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 5:00 pm

RWBYF

Red White & Bloom Brands Inc. (RWBYF), a Canadian MSO, reported increased Q3 2023 revenue of CA$20.1 million and a net loss decrease to CA$6.5 million. Adjusted EBITDA rose to CA$1.6 million. The company reduced expenses and expanded into Ohio, with a focus on high-margin products and the upcoming Aleafia acquisition. RWBYF's stock surged 70.25% to $0.0475 per share.

Portfolio Pulse from Patricio Liddle

November 30, 2023 | 4:43 pm

SLNH

Soluna Holdings, Inc. has registered for ERCOT's Demand Response Program, which will allow the company to generate over $10/MWh in additional revenue for Project Dorothy and potentially reduce power costs below $20/MWh. This positions Soluna as one of the lowest cost operators in the industry. The company also reported strong Q3 results with a 176% increase in revenue and an operating profit milestone. Additionally, Soluna completed the Third Amendment of October Notes to facilitate early payoff of convertible notes, signed new hosting customers at Project Sophie, and established an Advisory Board with AI and data center experts to expand its pipeline of candidates with AI expertise.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 4:38 pm

SLNH

Soluna Holdings, Inc. (NASDAQ:SLNH) announced the completion of its registration for Ancillary Services, aiming to diversify revenue streams. The company reported strong Q3 results with a 176% increase in revenue and an operating profit milestone. Soluna registered for ERCOT's Demand Response Program, which could add over $10/MWh in revenue and potentially reduce power costs below $20/MWh. The company also achieved hosting diversification, established an Advisory Board, and provided updates on key metrics and project developments.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 4:34 pm

LUX

At Benzinga's ETFS Unlocked Event, the CIO of Tema discussed the luxury goods industry, emphasizing its focus on craftsmanship, quality, and heritage. These factors allow luxury companies to charge premium prices and achieve high profitability. The CIO also noted that the supply of luxury goods is limited, which supports their exclusivity and pricing power.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 4:34 pm

HRTS

During Benzinga's ETFS Unlocked Event, the CIO of Tema discussed the Cardiovascular and Metabolic ETF, highlighting significant innovation in the sector that presents new investment opportunities. Additionally, the current downcycle in biotech was noted as creating attractive valuation opportunities for investors.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 4:31 pm

ABBV

IMGN

AbbVie Inc (NYSE:ABBV) is set to acquire ImmunoGen Inc (NASDAQ:IMGN) for approximately $10.1 billion, gaining access to ImmunoGen's flagship cancer therapy Elahere. The transaction, approved by both boards, is expected to close in mid-2024 and be accretive to AbbVie's EPS starting in 2027. ImmunoGen's Q3 sales for Elahere were $105.2 million. ABBV shares rose 2.18%, while IMGN shares surged 81.7%.

Portfolio Pulse from Vandana Singh

November 30, 2023 | 4:30 pm

RSHO

Yuri Khodjamirian, CIO of Tema ETFs, discussed the American Reshoring ETF at Benzinga's ETFS Unlocked Event. He highlighted that companies are recognizing the risks of globally spread supply chains and are moving manufacturing back to the US, spurred by government initiatives.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 4:26 pm

GDRX

WBA

Traders are circulating a note indicating that Citi has commented on Walgreens' launch of Rx Savings Finder, suggesting it will negatively impact GoodRx Holdings (GDRX). The new tool by Walgreens is designed to help patients save on prescription medications, which could compete with GoodRx's offerings.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 4:20 pm