Streetbeat News

Products Services

AMAM

AZN

NVS

PFE

SGEN

B Riley Securities initiates coverage on Ambrx Biopharma (AMAM) with a 'Buy' rating and a price target of $26 per share. The analyst highlights excitement around antibody-drug conjugates (ADCs) and recommends investors build positions ahead of clinical updates for ARX517 and ARX788.

Portfolio Pulse from Vandana Singh

June 14, 2023 | 7:05 pm

RENT

JMP Securities analyst Andrew Boone reiterated a Market Outperform rating on Rent the Runway Inc (NASDAQ:RENT) with a price target of $6. The company is focused on improving customer onboarding and inventory depth, and plans to introduce AI-powered search. RTR expects active subscriber growth to accelerate to +25% Y/Y by year end.

Portfolio Pulse from Shivani Kumaresan

June 14, 2023 | 7:01 pm

ACAD

Acadia Pharmaceuticals announced the addition of ACP-101, a Phase 3 development candidate for hyperphagia in Prader-Willi syndrome, to its rare disease portfolio. The company acquired worldwide rights to ACP-101 by acquiring Levo Therapeutics in June 2022. Analysts believe ACP-101 has a strong strategic fit and adds upside optionality for Acadia's future revenue growth.

Portfolio Pulse from Vandana Singh

June 14, 2023 | 6:59 pm

CRM

Oppenheimer analyst Brian Schwartz reiterated an Outperform rating on Salesforce (NYSE:CRM) with a price target of $235. He believes the company is well positioned to benefit from vendor consolidation trends, AI product prioritization, and improving business efficiency. Salesforce is also poised to gain from margin growth, increased multi-cloud adoption, and success with verticalized solutions.

Portfolio Pulse from Nabaparna Bhattacharya

June 14, 2023 | 6:58 pm

CCHWF

CRLBF

Robert De Niro will introduce rapper French Montana's documentary, 'For Khadija,' at the Tribeca Film Festival. The film is executive produced by Aubrey 'Drake' Graham and Sean 'Diddy' Combs, who recently signed an agreement to acquire cannabis assets from Cresco Labs (CRLBF) and Columbia Care (CCHWF).

Portfolio Pulse from Maureen Meehan

June 14, 2023 | 6:38 pm

WBD

The article discusses the history of the popular 1980s TV show ALF and its impact on pop culture. In the 1996 movie 'Project: ALF', the alien character is shown to have a preference for cannabis tea. ALF is available on Warner Bros. Discovery's HBO MAX (NASDAQ:WBD).

Portfolio Pulse from El Planteo

June 14, 2023 | 6:34 pm

COHR

Coherent Corp. (NYSE:COHR) shares are trading higher after the company introduced its new PH20 SmartWeld+ laser processing heads, optimized for precision control of welding depths in electric vehicle manufacturing applications. The technology addresses the growing demand for next-generation laser processing systems in battery manufacturing for electric vehicles.

Portfolio Pulse from Ryan Gustafson

June 14, 2023 | 6:29 pm

MTTR

Matterport announced Genesis, a generative AI service that enables customers to create digital twins of their physical property portfolios. Despite the announcement, MTTR shares are trading nearly 4% lower.

Portfolio Pulse from Erica Kollmann

June 14, 2023 | 6:28 pm

VRNT

Needham analyst Ryan MacDonald reiterated a Buy rating on Verint Systems Inc. (NASDAQ:VRNT) with a price target of $50, citing the company's AI-driven CX Automation initiatives. The analyst believes these bots will drive incremental efficiency and curb rising labor costs, and expects Verint's customer engagement business to support a near 30% EBITDA margin.

Portfolio Pulse from Nabaparna Bhattacharya

June 14, 2023 | 6:03 pm

MIRM

Mirum Pharmaceuticals announced data from LIVMARLI oral solution clinical studies evaluating patients with Alagille syndrome, causing its shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2023 | 5:54 pm