Streetbeat News

Products Services

PLRX

Pliant Therapeutics, Inc. (NASDAQ:PLRX) will host a conference call and webcast on September 26, 2023, to discuss the interim results from the INTEGRIS-PSC Phase 2a trial. The call will be joined by Gideon Hirschfield, a principal investigator in the trial. The conference call will be webcast online and accessible from Pliant's website. An archived replay of the webcast will be available for 60 days.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:06 pm

PROF

Profound Medical has secured FDA 510(k) clearance for its TULSA-PRO Thermal Boost, a device that enables surgeons to ablate whole- or partial-gland prostate tissue in patients with varying degrees of prostate cancer.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:06 pm

OMGA

Omega Therapeutics, Inc. (NASDAQ:OMGA) announced that it will host a conference call and webcast to discuss preliminary clinical data from the ongoing Phase 1/2 MYCHELANGELO I trial of OTX-2002 on September 26, 2023. OTX-2002 is an mRNA therapeutic designed to downregulate MYC expression pre-transcriptionally through epigenetic modulation. The study is currently enrolling patients in the U.S. and Asia.

Portfolio Pulse from Benzinga Newsdesk

September 25, 2023 | 8:01 pm

PHVS

Wedbush has initiated coverage on Pharvaris N.V. (NASDAQ:PHVS) with an Outperform rating and a price target of $27. The analyst sees a 35% upside potential and highlights Pharvaris' strategy to develop oral therapeutic options for hereditary angioedema (HAE). The analyst's estimates are skewed toward PHVS416, an acute HAE therapy, with a projected launch by FY26 and FY30 revenue reaching $644 million. The clinical hold on the PHVS719 program is expected to be lifted, allowing for advancement to the prophylactic market.

Portfolio Pulse from Vandana Singh

September 25, 2023 | 7:47 pm

MORF

TAK

Morphic Therapeutic's (NASDAQ:MORF) shares plunged after the company announced new data from the Phase 2a EMERALD-1 study. The results showed that Morphic's investigational ulcerative colitis pill MORF-057 induced endoscopic improvement in 25.7% of treated patients at 12 weeks, which underwhelmed investors. The company's shares are down 38.10% at $22.72. Takeda Pharmaceutical's (NYSE:TAK) phase 3 trial showed higher rates of clinical remission and endoscopic improvement.

Portfolio Pulse from Vandana Singh

September 25, 2023 | 6:30 pm

XOM

Morgan Stanley analyst Devin McDermott has reiterated an Overweight rating on Exxon Mobil Corp (XOM) and raised the price target from $124 to $131. The analyst highlighted that about 60% of the earnings improvement has already been delivered, putting XOM slightly ahead of plan. The company's strategic shift towards biofuels and integrated portfolio is paying off, with 12 biofuels opportunities under development offering above 20% returns. XOM's portfolio is now 85% integrated with its chemical facilities, and the company is increasing its sales of performance products.

Portfolio Pulse from Shivani Kumaresan

September 25, 2023 | 6:22 pm

EA

MSFT

TTWO

UBSFF

A leaked email from Microsoft Gaming CEO Phil Spencer reveals the challenges faced by AAA game publishers in the digital age. Spencer noted that AAA publishers have struggled to create new intellectual property (IP) and are relying on franchises created over a decade ago. Microsoft's response to these challenges is Xbox Game Pass, a subscription platform that has collaborated with AAA publishers like Take-Two Interactive Software, Ubisoft Entertainment, and Electronic Arts.

Portfolio Pulse from Franca Quarneti

September 25, 2023 | 6:17 pm

AMZN

NFLX

Amazon plans to add limited advertisements to Prime Video in 2024 and introduce an ad-free tier for an additional $2.99/month for U.S. Prime members. Analysts from Wedbush and Telsey Advisory Group have reiterated their 'Outperform' ratings for Amazon, with price targets of $180 and $160 respectively. They forecast incremental revenues from this move and do not expect significant membership churn.

Portfolio Pulse from Anusuya Lahiri

September 25, 2023 | 6:01 pm

AAPL

Morgan Stanley analyst Erik Woodring reiterated Apple Inc (NASDAQ:AAPL) with an Overweight and a $215 price target. The demand for iPhone 15 continues to outpace supply, with lead times for all models ahead of the iPhone 14 cycle. The analyst projects Q4 EPS of $1.39 vs. consensus of $1.30. AAPL shares traded higher by 0.73% at $176.03 on the last check Monday.

Portfolio Pulse from Anusuya Lahiri

September 25, 2023 | 5:49 pm

AMD

NVDA

SSNLF

TSM

AMD stock is trading higher along with other chipmakers amid reports of Taiwan Semiconductor Manufacturing Company (TSMC) increasing orders for advanced packaging equipment due to high demand from tech companies like Nvidia and AMD. However, the installation will likely be completed by the end of 2023, implying that Nvidia and others might have to bear the supply chain crisis for now. Separately, AMD has partnered with Samsung to advance 5G virtualized RAN (vRAN) for network transformation.

Portfolio Pulse from Anusuya Lahiri

September 25, 2023 | 5:41 pm