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CDNS

Cadence Design Sys (NASDAQ:CDNS) has outperformed the market over the past 15 years, producing an average annual return of 27.03%. If an investor had bought $1000 of CDNS stock 15 years ago, it would be worth $34,260.09 today.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 5:30 pm

PFE

Pfizer, Inc. (NYSE:PFE) shares hit a new 52-week low, falling more than 24% over the last year. The company faces challenges including issues with the commercial roll-out of updated COVID-19 vaccines and uncertainty regarding the approval of its oral antiviral COVID-19 treatment, Paxlovid, for commercial sale in the U.S. market.

Portfolio Pulse from Erica Kollmann

September 27, 2023 | 5:22 pm

IONQ

IonQ, Inc. (NYSE:IONQ) shares are trading higher after the company unveiled its two new rack-mounted quantum computer systems, the IonQ Forte Enterprise and the IonQ Tempo, for enterprise data centers. The new systems are designed for complex computational problems and far exceed the capabilities of classical computers and GPUs. IonQ stock has significant short interest with 16.45% of IONQ shares being sold short.

Portfolio Pulse from Erica Kollmann

September 27, 2023 | 5:17 pm

NEM

A significant bearish stance has been taken on Newmont (NYSE:NEM) as evidenced by unusual options activity. The overall sentiment of these big-money traders is split between 33% bullish and 66% bearish. The price of NEM is down -4.82% at $37.5. RBC Capital downgraded its action to Sector Perform with a price target of $52, Raymond James maintained their Outperform rating with a price target of $61, and UBS maintained their Neutral rating with a price target of $42.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 5:16 pm

BKNG

A significant bearish stance has been taken on Booking Holdings (NASDAQ:BKNG) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 80% bearish and 20% bullish. The whales have been targeting a price range from $1540.0 to $3800.0 for Booking Holdings over the last 3 months. Argus Research has downgraded its action to Buy with a price target of $3677.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 5:15 pm

SEEL

Seelos Therapeutics Inc (NASDAQ:SEEL) announced encouraging preclinical data from an in vivo study of SLS-005 in an aggressive Alzheimer's disease non-human primate model. The study showed a 46% reduction in tau protein and an 18% reduction in NfL, a protein biomarker. Top-line data from the SLS-005 registrational Phase 2/3 trial in ALS is expected to be released in Q4 of 2023. However, Seelos' Phase 2 study of SLS-002 for Acute Suicidal Ideation and Behavior failed to meet the pre-defined primary endpoint. SEEL shares are up 13.50% at $0.20.

Portfolio Pulse from Vandana Singh

September 27, 2023 | 5:07 pm

MRO

Marathon Oil's stock is trading higher due to an increase in oil prices.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 5:06 pm

ARGX

BHVN

IMVT

JNJ

PFE

Pfizer's subsidiary Biohaven released an updated investor presentation with additional data on its BHV-1300 program, a potential competitor to FcRn-targeting therapeutics. The data shows that BHV-1300 takes a direct approach by targeting IgG itself for degradation, which sets it apart from competitors. Biohaven's data shows a substantial reduction in IgG levels of over 90% based on experiments conducted on nonhuman primates. Biohaven's shares are up 27% at $22.42.

Portfolio Pulse from Vandana Singh

September 27, 2023 | 5:05 pm

AMZN

META

MSFT

Amazon.com, Inc. (NASDAQ:AMZN) is facing an antitrust lawsuit filed by the FTC and 17 state governments, alleging the company is using anti-competitive tactics to maintain its market dominance. The lawsuit has led to a 1.4% drop in Amazon's shares, hitting a 3-month low. Despite this, several analysts maintain positive outlooks for the company, with average one-year price target at $172, a 39% increase from the current valuation.

Portfolio Pulse from Piero Cingari

September 27, 2023 | 5:05 pm

HSY

Hershey's (NYSE:HSY) short percent of float has risen 4.49% since its last report, with 3.44 million shares sold short, which is 2.56% of all regular shares available for trading. It would take traders 2.72 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Hershey's peer group average for short interest as a percentage of float is 4.53%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

September 27, 2023 | 5:01 pm