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BIIB

Biogen (NASDAQ:BIIB) has seen unusual options activity, with a significant bullish sentiment among high-rolling investors, as tracked by Benzinga. The activity includes 11 options trades, with 81% bullish and 18% bearish sentiment, focusing on a price window of $220.0 to $255.0. The largest trades include both put and call options with varying sentiments and expiration dates. Biogen, known for its multiple sclerosis and cancer drugs, has a current market price of $240.98, with neutral RSI indicators and earnings expected in 1 day. Analysts have issued a consensus target price of $282.33, with mixed ratings from UBS and Oppenheimer.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 8:16 pm

RNLX

Renalytix shares surged following the announcement that the Centers for Medicare and Medicaid Services published a draft Local Coverage Determination for KidneyIntelX and kidneyintelX.dkd testing on Feb. 8.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 8:08 pm

Oppenheimer analyst Dominick Gabriele reiterated an Outperform rating on Visa Inc. (NYSE:V) with a price target of $297, highlighting the company's potential to benefit from the shift from paper currency to electronic payments. Visa's value-added-service (VAS) growth is expected to remain robust, with a forecasted adjusted EPS of $2.44 for the second quarter. The company's revenue growth was 11.41% in FY23, and its performance is influenced by macroeconomic factors such as interest rates and inflation. Visa's stock has experienced average annual growth of 9.39%, outperforming its peers.

Portfolio Pulse from Nabaparna Bhattacharya

February 12, 2024 | 8:02 pm

LLY

Eli Lilly's weight loss drug, Tripeptide, is gaining market share with BMO Capital Markets tracking its performance. The analyst projects $12.78 billion in revenues for fiscal year 2024. Mounjaro and Zepbound, Eli Lilly's drugs for diabetes and weight loss respectively, have shown significant weekly prescription growth. Despite supply challenges, demand for Eli Lilly's drugs continues to outpace supply, leading BMO to raise its price target for Eli Lilly from $710 to $865. However, LLY shares have recently dropped by 1.16%.

Portfolio Pulse from Vandana Singh

February 12, 2024 | 7:54 pm

GOLD

NEM

Barrick Gold (NYSE:GOLD) announced an increase in proven and probable gold reserves to 77 million ounces by the end of 2023, up from 76 million the previous year. The company, holding a 61.5% stake in Nevada Gold Mines (NGM) through a joint venture with Newmont (NYSE:NEM), highlighted significant contributions from its North American operations, particularly in Northern Nevada, which is described as 'far from being a mature gold district.' Key sites like Carlin, Cortez, and the Turquoise Ridge complex are expected to support production growth for over a decade. Additionally, NGM has initiated a transition to renewable energy with the commissioning of a solar project.

Portfolio Pulse from Stjepan Kalinic

February 12, 2024 | 7:53 pm

IWM

The Russell 2000 index, representing small-cap stocks, is poised for a significant comeback due to favorable economic conditions, interest in disruptive industries, and technical bullish indicators. Small-cap stocks offer high growth potential but come with risks like increased volatility and liquidity issues. Strategies for investing include focusing on growth-oriented stocks and seeking undervalued companies. Resources like financial news websites, brokerage platforms, and professional research firms can aid in making informed decisions. The current landscape presents a major opportunity for investors in small-cap stocks, with careful research and strategy being crucial.

Portfolio Pulse from Thrash Capital

February 12, 2024 | 7:37 pm

DNLI

PFE

RGNX

SRPT

REGENXBIO Inc (NASDAQ:RGNX) reported positive interim results from trials of RGX-202 and RGX-121, targeting Duchenne muscular dystrophy and Mucopolysaccharidosis Type II, respectively. Despite the success, challenges from competitors such as Sarepta Therapeutics Inc's Elevidys, Pfizer Inc's fordadistrogene movaparvovec, and potential treatments from Denali Therapeutics Inc and JCR Pharmaceuticals may limit market opportunities. Wedbush maintains a Neutral rating on RGNX with a price target of $21, citing the crowded market and awaiting further functional data.

Portfolio Pulse from Vandana Singh

February 12, 2024 | 7:35 pm

SOFI

Deep-pocketed investors have shown a bullish sentiment towards SoFi Technologies (NASDAQ:SOFI), with a notable increase in options activity. Benzinga's tracking revealed 20 extraordinary options activities, with a 60% bullish and 40% bearish sentiment among investors. The targeted price range for SOFI over the last 3 months is between $6.0 to $17.0. The company, known for its wide range of financial services, has seen its stock price slightly decrease by -0.12%, reaching $8.12. Analyst ratings in the last month have varied, with an average target price of $8.83, but opinions range from Underweight to Buy.

Portfolio Pulse from Benzinga Insights

February 12, 2024 | 7:01 pm

MSFT

SONY

TTWO

Recent data from Take-Two Interactive Software Inc.'s earnings report shows Sony Group Corp.'s PlayStation 5 has outsold Microsoft Corp.'s Xbox Series X | S by a 2:1 ratio. As of Dec. 31, 2023, 77 million Gen 9 consoles have been sold, with over 50 million being PS5 units. This sales lead is significant amidst rumors of Xbox exclusives potentially launching on PlayStation. Xbox head Phil Spencer has committed to addressing these concerns and reassured that Microsoft will continue making consoles.

Portfolio Pulse from Franca Quarneti

February 12, 2024 | 6:54 pm

AMZN

DIA

NVDA

QQQ

SMH

SPY

Wall Street reached new highs with the S&P 500 and Nasdaq 100 leading, ahead of the January inflation report. Bitcoin soared to $50,333, and NVIDIA surpassed Amazon in market cap. The VanEck Semiconductor ETF surged over 20% YTD. Major ETFs like SPY, DIA, and QQQ also saw gains, with sector-specific ETFs like XLB, XLE, and XLC performing well. V.F. Corporation and Enphase Energy stocks rose significantly. Companies like Arista Networks, Cadence Design Systems, Waste Management, and Principal Financial Group are set to report earnings.

Portfolio Pulse from Piero Cingari

February 12, 2024 | 6:50 pm