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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

DRD

GFI

HMY

Shares of gold companies have seen an increase in trading volume and price as gold prices rise in response to the Federal Reserve's decision to keep interest rates unchanged. This decision typically boosts gold's attractiveness as an investment, leading to positive impacts on gold-related stocks.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:46 pm

DXCM

Benzinga's options scanner revealed significant trading activity on DexCom (NASDAQ:DXCM) options, with a focus on a price range of $97.5 to $131.0. The analysis of options trades, including both calls and puts, suggests a bullish sentiment among investors. DexCom, a company specializing in continuous glucose monitoring systems, has seen its stock price increase by 0.4% to $134.7. Analysts have set an average target price of $165.0 for DexCom, with RBC Capital downgrading its rating to Outperform.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:45 pm

CVX

Recent options trading trends for Chevron (NYSE:CVX) show a bearish sentiment among investors, with 66% of trades being bearish. The trading volume and open interest suggest a price target range of $140.0 to $185.0. Chevron's current market status indicates a slight decrease in stock price to $155.65, with neutral RSI indicators. Analysts from Piper Sandler and Mizuho have issued positive ratings with target prices of $180 and $200, respectively.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:45 pm

NFLX

The options market shows a bearish sentiment towards Netflix (NASDAQ:NFLX), with 63% of trades being bearish. Major market movers are targeting a price range between $5.0 and $1100.0 for Netflix. Significant options trades have been detected, including both bearish and bullish positions. Netflix's business model focuses on its streaming service, with a global subscriber base of almost 250 million. The stock is currently down -0.15% at $619.81, with analysts setting an average price target of $694.0.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:45 pm

SPY

Fed Chair Powell emphasized the commitment to the dual mandate of controlling inflation and maximizing employment. He stated that the Fed needs greater confidence that inflation is moving sustainably downward before considering rate cuts.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:38 pm

SPY

Federal Reserve Chairman Jerome Powell indicated that the current policy rate is likely at its peak and suggested the possibility of rate cuts later this year. However, he also mentioned the readiness to maintain higher rates for an extended period if necessary.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:37 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

XOM

Deep-pocketed investors show a divided sentiment towards Exxon Mobil (NYSE:XOM), with a notable lean towards bearishness in recent options activity. Benzinga's tracking revealed 17 extraordinary options activities, with a mix of bullish and bearish sentiments. The major market movers are targeting a price band between $92.5 and $125.0 for Exxon Mobil. The company's current market performance shows a slight decrease in stock price, with an anticipation of earnings release in 37 days. Analyst ratings from Mizuho and Piper Sandler offer a neutral to positive outlook with target prices of $125 and $130, respectively.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:31 pm

MRK

Merck & Co (NYSE:MRK) has seen unusual options activity indicating a bullish stance by large investors, with a mix of 55% bullish and 44% bearish sentiment among the trades. The options target a price range of $105.0 to $125.0. Recent analyst ratings have varied, with an average target price of $124.67, but with differing opinions from Cantor Fitzgerald and Societe Generale. The company's stock is currently down by -0.97%, trading at $121.01, with an earnings announcement expected in 36 days.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 6:31 pm