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RLYB

Rallybio Corporation (NASDAQ:RLYB) announced positive preliminary Phase 1 results for RLYB116, a subcutaneous inhibitor of complement component 5, showing over 93% reduction in free C5, suggesting potential as a treatment for generalized myasthenia gravis and other diseases. The company also reported an extension of its cash runway to Q3 2025, focusing on manufacturing enhancements for RLYB116 and advancing RLYB212 for fetal and neonatal alloimmune thrombocytopenia.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:07 pm

EOLS

Evolus, Inc. (NASDAQ:EOLS) has entered into an exclusive licensing agreement with Symatese to distribute four next-generation dermal fillers in the UK and Europe, with regulatory approvals expected in the second half of 2024 and commercialization in 2025. The agreement expands Evolus' international market and complements the launch of Nuceiva, their flagship neurotoxin. Evolus will issue 610,000 shares to Symatese and make milestone payments upon regulatory approvals. The company expects to be fully funded to profitability by 2025 and will pre-announce Q4 and FY23 results and 2024 revenue guidance in January.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:04 pm

MYGN

Myriad Genetics, Inc. has launched the Myriad Collaborative Research Registry (MCRR), formerly known as the Precise Treatment Registry. The MCRR is a comprehensive pan-cancer registry with data from over one million patients, encompassing germline and tumor testing results from Myriad's cancer products. This registry is one of the largest of its kind and is freely available for research to promote clinical data sharing and advance the field of precision medicine.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:03 pm

HAYW

Hayward Holdings (NYSE:HAYW) has received mixed analyst ratings in the last three months, with 5 analysts offering views ranging from bullish to bearish. The average 12-month price target is $13.7, with a high of $16.00 and a low of $12.00, marking a 6.8% decrease from the previous average. Analysts from Stifel and Keybanc have raised and lowered their ratings and price targets, respectively, while Goldman Sachs' Brian Lee has lowered his price target twice. Hayward Holdings, a manufacturer of swimming pool equipment, reported a revenue decline of -10.18% for the quarter ending September 30, 2023, and has financial metrics below industry averages, including a net margin of 5.35%, ROE of 0.92%, and ROA of 0.41%.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 1:01 pm

STGW

Stagwell (NASDAQ:STGW) has been evaluated by 8 analysts over the last three months, with 7 bullish and 1 indifferent rating. The average 12-month price target is $7.19, with a high of $8.00 and a low of $6.00, marking a 17.07% decrease in the average target. Analysts from firms including Needham, Goldman Sachs, Benchmark, Morgan Stanley, and Craig-Hallum have adjusted their ratings and price targets. Stagwell's financial performance shows a revenue decline of -6.96%, a net margin of 0.11%, ROE of 0.21%, ROA of 0.02%, and a high debt-to-equity ratio of 5.55.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 1:00 pm

UTI

Universal Technical (NYSE:UTI) has been evaluated by 5 analysts over the last three months, with 4 bullish and 1 somewhat bullish ratings. The average 12-month price target is $13.6, up from $10.33, with a high estimate of $15.00 and a low of $11.00. Analysts from Rosenblatt and Barrington Research have raised their price targets, while B. Riley Securities maintains a 'Buy' rating. Universal Technical Institute Inc is an educational institution with strong financial performance, including a 53.92% revenue growth rate and a net margin of 1.99%. However, the company has a high debt-to-equity ratio of 1.55.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 1:00 pm

TEX

Analysts have recently updated their ratings and price targets for Terex (NYSE:TEX), with 7 analysts offering views ranging from bullish to bearish. Over the past three months, sentiments have shifted, with the current average 12-month price target at $60.57, down from the previous $67.71. Analysts from firms including Jefferies, UBS, Goldman Sachs, Barclays, JP Morgan, and Citigroup have lowered their price targets, reflecting changes in market dynamics and company performance. Terex has shown strong financial performance with solid revenue growth, high net margin, and impressive ROE and ROA, while maintaining a balanced debt approach.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 1:00 pm

JBLU

JSX, backed by JetBlue Airways (NASDAQ:JBLU), has placed an order for up to 332 hybrid-electric aircraft from various manufacturers, with deliveries starting in 2028. The order includes the Heart Aerospace ES-30, Aura Aero Era, and Electra eSTOL aircraft. JSX aims to serve over 2000 airports, reducing travel costs and carbon emissions. The confirmed order is for 132 aircraft, with the rest as options.

Portfolio Pulse from Anan Ashraf

December 20, 2023 | 12:46 pm

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is restructuring, with Eddie Wu replacing Trudy Dai to head Tmall and Taobao. Dai will manage a new entity for Alibaba's global investment assets. Amidst challenges from regulatory scrutiny and rising competition from PDD Holdings Inc (NASDAQ:PDD) and ByteDance Ltd, Alibaba is refocusing on core businesses and considering divestitures. Analysts have rerated BABA due to slow turnaround and cloud business spinoff withdrawal. Alibaba reversed a prior decision to split into six divisions and is now led by Wu, with Joseph Tsai overseeing potential asset divestitures. Additionally, BWB Inc has filed patent infringement lawsuits against Alibaba in multiple countries. Alibaba's stock has declined by over 18% YTD, while PDD's stock has risen by 78%. BABA's premarket trading shows a slight increase of 0.27% to $75.60.

Portfolio Pulse from Anusuya Lahiri

December 20, 2023 | 12:36 pm

GIS

General Mills has updated its FY24 outlook, now expecting a 4-5% increase in adjusted operating profit and adjusted EPS in constant currency, a slight decrease from the previously forecasted 4-6% growth. The company anticipates the economic health of consumers, input cost inflation, and supply chain stability to be key factors affecting its performance. General Mills still projects a 5% input cost inflation, largely due to labor inflation affecting sourcing, manufacturing, and logistics.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 12:07 pm