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CMPS

CYBN

MNMD

PSIL

Cybin Inc. received FDA Breakthrough Therapy designation for its psilocybin therapy for Major Depressive Disorder, alongside positive clinical data and a $150M private placement. MindMed also received the designation for its LSD-derived treatment for Generalized Anxiety Disorder, with expected proceeds of $175M from share offerings. Gilgamesh Pharmaceuticals was awarded a $14M grant for ibogaine analog research. Psyence Biomedical, Red Light Holland, and Clearmind Medicine were mentioned for their developments in psychedelics. The article also covered stock performances of several psychedelics companies.

Portfolio Pulse from Lara Goldstein

March 20, 2024 | 6:49 pm

CIBR

CSCO

FDN

Cisco Systems Inc (CSCO) secured EU clearance for its Splunk acquisition, closing the deal ahead of schedule. Piper Sandler analyst James Fish maintained a Neutral rating on Cisco but raised the price target from $47 to $51, citing the deal's potential for significant revenue and free cash flow growth by fiscal 2026. Cisco financed the transaction by raising $13.5 billion of debt. Despite some concerns, the acquisition is seen as a positive move for Cisco's growth, especially in AI and cybersecurity, although challenges in networking and cloud exposure remain. CSCO shares saw a slight increase, and the stock can also be accessed through ETFs like CIBR and FDN.

Portfolio Pulse from Anusuya Lahiri

March 20, 2024 | 6:34 pm

DHI

HD

LEN

LOW

The U.S. housing market is experiencing a mortgage lock-in issue, where high mortgage rates discourage homeowners from selling, contributing to a housing shortage and pushing prices up. Home development retailers like Home Depot Inc (HD) and Lowe's Companies Inc (LOW) have seen sales boosts due to homeowners opting to improve their current homes instead of moving. This situation pressures builders like D.R. Horton Inc (DHI) and Lennar Corporation (LEN) to increase new home construction. The Federal Housing Finance Agency reports that mortgage lock-in reduced home sales by 57% in Q4 2023, suggesting solutions like tax credits and mortgage portability to alleviate the issue.

Portfolio Pulse from Neil Dennis

March 20, 2024 | 6:29 pm

SPY

The Federal Reserve has reported that economic activity is expanding at a solid pace, with job gains continuing to be strong and the unemployment rate remaining low. This indicates a robust economic environment.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:03 pm

STNE

StoneCo (NASDAQ:STNE) has received mixed analyst ratings over the past three months, with a recent shift towards a more bullish outlook. The average 12-month price target for STNE has increased to $20.4, up from $15.00, indicating a 36.0% rise. Analysts from Citigroup, UBS, Banco Bradesco BBI S.A, Goldman Sachs, and Barclays have updated their ratings and price targets, reflecting dynamic market conditions and StoneCo's performance. StoneCo's financials show a positive revenue growth rate of 25.35% and a net margin of 13.84%, outperforming industry benchmarks. However, its ROE is below industry averages, suggesting challenges in generating satisfactory returns for shareholders.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:01 pm

IP

Recent analyst ratings for International Paper (NYSE:IP) show a mix of bullish and bearish perspectives, with 6 analysts offering evaluations over the past three months. The average 12-month price target for IP has increased to $41.67, up from $40.25, indicating a positive outlook. Analyst actions include maintaining, raising, and lowering ratings and price targets, reflecting responses to market dynamics and company performance. International Paper, a major player in the packaging and cellulose fibers market, faces challenges in revenue growth, profitability, and asset utilization, with a significant decline in revenue and below-average net margin and ROE.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:00 pm

CNM

Analysts have mixed views on Core & Main (NYSE:CNM), with recent evaluations showing a range from bullish to indifferent. The average 12-month price target has been raised to $55.29, indicating a positive outlook. Core & Main's financial performance shows strong revenue growth but challenges in profitability and return on equity. The company's market position is solid, with a significant market capitalization and a sound financial structure.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:00 pm

VRDN

Viridian Therapeutics (NASDAQ:VRDN) has been the subject of analysis by 4 analysts over the past three months, with ratings ranging from bullish to somewhat bullish. The average 12-month price target for VRDN is $34.25, with a high of $40.00 and a low of $30.00, reflecting a slight decrease of 0.72% in sentiment. The company, a clinical-stage biopharmaceutical firm focusing on thyroid eye disease treatments, has seen a -31.43% decline in revenue growth and faces challenges in profitability and asset utilization.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:00 pm

FLYW

Analyst ratings for Flywire (NASDAQ:FLYW) have shown diverse outlooks, ranging from bullish to bearish over the last three months. Recent updates indicate a positive trend, with an average 12-month price target of $33.00, reflecting a 6.04% increase from the previous target of $31.12. Analysts from firms including Citigroup, Morgan Stanley, UBS, Goldman Sachs, RBC Capital, Truist Securities, JP Morgan, and Deutsche Bank have adjusted their ratings and price targets, generally showing optimism towards Flywire's future performance. Flywire's financials reveal a revenue growth of 37.63% over the past 3 months, with a market capitalization below industry averages, a net margin of 1.28%, ROE of 0.16%, ROA of 0.12%, and a debt-to-equity ratio of 0.0.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:00 pm

BNTX

PFE

BioNTech SE (BNTX) reported a significant drop in revenue and earnings for the fourth quarter, as it shifts focus from COVID-19 vaccines to cancer drug development. Despite a 90% YoY drop in net income for 2023, BioNTech remains optimistic about its oncology pipeline, expecting revenue growth in 2025 and its first oncology launch in 2026. Pfizer Inc (PFE), BioNTech's partner in COVID-19 vaccine development, also reported a 54% decline in vaccine sales and is turning towards oncology.

Portfolio Pulse from Upwallstreet

March 20, 2024 | 5:38 pm