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CWBHF

Charlotte's Web Holdings Inc (CWBHF) and AJNA BioSciences PBC, through their collaboration DeFloria LLC, have initiated the Phase 1 clinical trial of AJA001, a full-spectrum hemp botanical drug. The trial, which began in September, is the first human testing of the substance and aims to evaluate its safety, tolerability, and pharmacokinetics with about 64 participants in Brisbane, Australia. The successful initiation of the trial is seen as a critical milestone, and DeFloria plans to submit an Investigational New Drug application to the FDA for Phase 2 trials. CWBHF's stock was trading 5.95% higher at $0.2225 per share at the time of the report.

Portfolio Pulse from Patricio Liddle

December 13, 2023 | 4:23 pm

IART

JNJ

Integra LifeSciences Holdings Corporation (IART) has agreed to acquire Acclarent Inc. from Ethicon Inc, a Johnson & Johnson (JNJ) MedTech company, for $275 million in cash, with an additional $5 million contingent on regulatory milestones. Acclarent, specializing in ENT medical devices, will join Integra's Codman Specialty Surgical division, expanding its global market by approximately $1 billion. Acclarent's 2022 revenue was about $110 million with gross margins similar to Integra's average. The deal is expected to close by Q2 2024 and be accretive to Integra's long-range plan. IART shares dropped slightly by 0.49% to $40.72.

Portfolio Pulse from Vandana Singh

December 13, 2023 | 4:20 pm

JCI

RBC Capital analyst Deane Dray has maintained a 'Sector Perform' rating on Johnson Controls International (JCI) but has reduced the price target from $58 to $54.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:16 pm

CALM

Cal-Maine Foods' stock is experiencing heightened volatility after the company reported HPAI at its Kansas facility. Despite this, Stephens & Co upgraded their price target from $45 to $50.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:16 pm

LFMD

MED

Medifast Inc (NYSE:MED) has formed a strategic alliance with LifeMD Inc (NASDAQ:LFMD), investing $20 million into LifeMD, including a $10 million purchase of LifeMD's shares. Medifast has discontinued its quarterly cash dividends to provide flexibility for evolving its business model. The collaboration will integrate LifeMD's virtual care technology with Medifast's OPTAVIA program, aiming to offer a clinically supported weight management program. This partnership follows a successful pilot program and positions LifeMD in a growing market. However, following the announcement, LFMD shares dropped by 6.30%, and MED stock fell by 11.7%.

Portfolio Pulse from Vandana Singh

December 13, 2023 | 4:11 pm

ALK

JBL

Jabil Inc. (JBL) is set to release its Q1 fiscal year 2024 earnings before the market opens on December 14, 2023. Analysts predict earnings of $2.58 per share and revenue of $8.35 billion. Jabil will also join the S&P 500, replacing Alaska Air Group Inc. (ALK), on December 18. Ahead of the earnings call, analysts have revised their price targets for JBL, with most maintaining positive ratings but some adjusting their targets down slightly. JBL shares dropped 0.7% to $120.15 on Tuesday.

Portfolio Pulse from Avi Kapoor

December 13, 2023 | 4:06 pm

BLK

GBTC

Bloomberg analysts report that four applicants for spot Bitcoin ETFs, including BlackRock (BLK), Grayscale (GBTC), Franklin, and Fidelity, have recently met with the SEC. While no specific changes were noted, the presence of key SEC divisions suggests a focus on the approval process for Bitcoin ETFs. The SEC's financial report indicates increased scrutiny on crypto-assets and blockchain technology in 2024. The global crypto market cap has risen slightly ahead of the FOMC meeting.

Portfolio Pulse from Khyathi Dalal

December 13, 2023 | 4:04 pm

BIIB

The article provides an industry comparison of Biogen (NASDAQ:BIIB) against its competitors in the Biotechnology industry, analyzing key financial metrics such as P/E, P/B, P/S ratios, ROE, EBITDA, gross profit, and revenue growth. Biogen's valuation appears low relative to its peers, suggesting it may be undervalued. However, its financial performance metrics like ROE, EBITDA, and revenue growth are also lower than the industry average, indicating potential challenges in profitability and sales expansion.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 4:00 pm

BIDU

Baidu (NASDAQ:BIDU) is analyzed alongside competitors in the Interactive Media & Services industry. Baidu dominates the Chinese search engine market with a 72% revenue from online marketing in 2022. Financial comparisons show Baidu's P/E, P/B, and P/S ratios are below the industry average, suggesting undervaluation. However, Baidu's ROE is lower than the industry average, indicating potential inefficiency. Baidu's EBITDA and gross profit are significantly higher than the industry average, and its revenue growth outpaces the industry, signaling strong financial performance and growth potential.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 4:00 pm

ASML

ASML Holding (NASDAQ:ASML) is analyzed against competitors in the Semiconductors & Semiconductor Equipment industry. ASML leads in photolithography systems and has key clients like TSMC, Samsung, and Intel. Financial comparisons show ASML with a lower P/E ratio than the industry average, suggesting potential undervaluation. However, its high P/B and P/S ratios may indicate overvaluation. ASML's ROE, EBITDA, gross profit, and revenue growth are significantly higher than industry averages, indicating strong financial performance. The company's low debt-to-equity ratio suggests a solid financial position with less reliance on debt.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 4:00 pm