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BHVN

CERE

KRTX

XENE

RBC Capital Markets has initiated coverage on Biohaven Ltd (NYSE:BHVN) with an Outperform, Speculative Risk rating, and a price target of $62, citing its promising approach in the neuro-psych space. The analyst is optimistic about Biohaven's Kv7 modulators for epilepsy and mood disorders, highlighting its potential $3.2 billion market and fast follower strategy leveraging competitor data, notably from Xenon Pharmaceuticals Inc (NASDAQ:XENE). Despite potential risks, the unique safety profile and upcoming Phase 3 trial results for BHV-7000 are seen as positive indicators. The success of similar drugs by Karuna Therapeutics Inc (NASDAQ:KRTX) and Cerevel Therapeutics Holdings Inc (NASDAQ:CERE) in the schizophrenia market supports the potential for increased adoption in the epilepsy and mood disorder market.

Portfolio Pulse from Vandana Singh

February 16, 2024 | 6:58 pm

GXAI

Gaxos.Ai's stock price increased following the announcement of its gaming division launching an AI solution for game developers and studios. This move is expected to enhance the company's offerings in the gaming industry and potentially increase its market share.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 6:55 pm

LCID

Lucid Group, Inc. (NASDAQ:LCID) shares have risen over 5% in the past five days following the announcement of a price reduction for the Lucid Air Pure to $69,900, inclusion of two years of free scheduled maintenance, and a $1000 charging accessories allowance. Additionally, CEO Peter Rawlinson received a $6 million bonus for his contributions to the Lucid Gravity SUV. Tesla CEO Elon Musk commented on Rawlinson's bonus, and Lucid is expected to announce Q4 financial results with anticipated losses of 29 cents per share and revenue of $178.297 million.

Portfolio Pulse from Erica Kollmann

February 16, 2024 | 6:38 pm

ARKK

SARK

TARK

TSLA

Tesla (NASDAQ:TSLA) experienced a significant drop after missing its quarterly earnings, contrasting sharply with the success of other tech giants like Nvidia and Microsoft. Despite this, Cathie Wood's ARK Innovation ETF (NYSE:ARKK) purchased 377,000 shares, leveraging her strategy of buying underperforming stocks. Tesla's vision for the future, including autonomous driving and robotics, remains a key investment thesis for Wood. Additionally, the AXS 2X Innovation ETF (NASDAQ:TARK) and the AXS Short Innovation Daily ETF (NASDAQ:SARK) offer leveraged exposure to ARKK's performance for bullish and bearish traders, respectively.

Portfolio Pulse from Johnny Rice

February 16, 2024 | 6:37 pm

CMCSA

DIS

FOX

PARA

WBD

Paramount Global (NASDAQ:PARA) and Comcast Corporation (NASDAQ:CMCSA) are reportedly discussing a potential collaboration in the streaming space, exploring options like a commercial partnership or a joint venture. This move aims to navigate the evolving streaming landscape, potentially bringing together Paramount+ and Peacock to achieve cost savings and offer a more comprehensive content library. The discussions are part of a broader industry trend towards strategic collaborations, as seen with recent ventures by The Walt Disney Co (NYSE:DIS), Fox Corp (NYSE:FOX), and Warner Bros. Discovery Inc (NASDAQ:WBD). Paramount is also exploring other strategic options, including talks of a merger with Warner Discovery and a potential sale to SkyDance Media.

Portfolio Pulse from Vandana Singh

February 16, 2024 | 6:33 pm

COIN

Coinbase Global Inc (NASDAQ:COIN) received positive analyst ratings following its Q4 earnings beat, with revenue of $953.8 million and EPS of $0.51, surpassing expectations. Analysts highlighted Coinbase's thriving business amid increased volatility, trading volumes, and partnerships, particularly noting its role as custodian for 8 of the 11 approved spot BTC ETFs. Price targets were raised by several analysts, reflecting optimism about Coinbase's market leadership, expansion, and product initiatives. However, Goldman Sachs maintained a Sell rating despite raising its price target, citing market conditions as primary performance drivers.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 6:15 pm

RHHBY

SRPT

The FDA has fast-tracked the review of Sarepta Therapeutics' muscular dystrophy treatment, Elevidys, with a review goal date set for June 21, 2024. This move could potentially expand Elevidys' indication and convert its approval from accelerated to traditional, aiming for a $1B market. Sarepta, in collaboration with Roche Holdings, is working towards regulatory approval and commercialization in the U.S. and globally, respectively. Analysts see the approval as a significant milestone for Duchenne patients, potentially expanding the treatment's application and market.

Portfolio Pulse from Vandana Singh

February 16, 2024 | 6:08 pm

CHNR

DASH

GXAI

HTOO

DoorDash shares fell by 12.2% after reporting mixed Q4 results and providing Q1 guidance. Other stocks showed significant movements, with Gaxos.ai surging 444% after announcing an AI solution for game developers, and Fusion Fuel Green climbing 157% following European Commission approval for its project. Losers included China Natural Resources, dropping 48% after a direct placement announcement, and Bloom Energy, falling 24% due to disappointing Q4 results.

Portfolio Pulse from Avi Kapoor

February 16, 2024 | 6:04 pm

ETHUSD

On Thursday, 7,473.71 Ether (ETH) worth approximately $20.74 million was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade on August 5, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% per year, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -7.94% yesterday.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 6:00 pm

KLAC

Financial analysis reveals a bearish trend in options trading for KLA (NASDAQ:KLAC), with 72% of trades showing bearish tendencies. The trading activity suggests investors are targeting a price range of $400.0 to $750.0 for KLA over the next three months. The largest trades observed include both bullish and bearish sentiments, with significant investments in calls. KLA, a leading semiconductor equipment manufacturer, has seen its stock price increase by 2.27% to $667.16. Analyst opinions on KLA are mixed, with an average target price of $641.0, and ratings ranging from Overweight to Neutral.

Portfolio Pulse from Benzinga Insights

February 16, 2024 | 5:31 pm