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TARS

Tarsus Pharmaceuticals' Xdemvy has been approved by the FDA for Demodex blepharitis. Despite this, Tarsus shares have been under pressure due to concerns over a 10% instillation site stinging and burning adverse event. Analysts from William Blair believe these concerns are overblown and maintain an Outperform rating with a price target of $44. They also note that the weakness in Tarsus shares may be due to cases of eye inflammation and occlusive retinal vasculitis for Apellis Pharmaceuticals' Syfovre.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 7:39 pm

ABBV

BGNE

William Blair has initiated coverage on AbbVie Inc with a Market Perform rating. The analysts noted that while AbbVie was prepared for the launch of Humira biosimilars, the loss of exclusivity is complicated by growing competition in the hematology and aesthetic franchises. The launch of Beigene Limited's Brukinsa intensifies competitive pressure. AbbVie's shares are expected to trade roughly in line with the market as Humira pricing and volume erode over the next 12 months.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 7:35 pm

IPAR

Inter Parfums Inc (IPAR) reported a 26% increase in Q2 2023 sales to $309 million, beating the consensus of $282 million. The company also raised its 2023 sales guidance to $1.3 billion from $1.25 billion. D.A. Davidson analyst Linda Bolton Weiser reiterated a Buy rating on IPAR shares with a price target of $187. The sales growth was attributed to the prestige fragrance market growth and share gains. The company's shares are trading higher by 9.8% at $143.84.

Portfolio Pulse from Shivani Kumaresan

July 25, 2023 | 7:34 pm

BANC

PACW

Banc of California, Inc. (BANC) and PacWest (PACW) are reportedly in advanced talks to merge, aiming to strengthen their businesses following the banking crisis earlier this year. The news has led to a surge in BANC shares and a decline in PACW shares. Both companies are set to report their Q2 earnings after the market close.

Portfolio Pulse from Ryan Gustafson

July 25, 2023 | 7:34 pm

AURC

Shares of Aurora Acquisition Corp. have resumed trading.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 7:33 pm

PXD

A significant bearish stance has been taken on Pioneer Natural Resources (NYSE:PXD) by a large investor, as observed in the unusual options activity. The overall sentiment of these big-money traders is split between 27% bullish and 72% bearish. The whales have been targeting a price range from $200.0 to $250.0 for Pioneer Natural Resources over the last 3 months. The price of PXD is up 0.96% at $220.13, and RSI indicators hint that the stock may be overbought. The next earnings are expected to be released in 7 days.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 7:31 pm

V

A large investor has taken a bullish stance on Visa (NYSE:V), with 24 uncommon options trades spotted for the company. The sentiment of these trades is split evenly between bullish and bearish. The trades include 12 puts for a total of $695,918 and 12 calls for a total of $1,213,832. The targeted price range for Visa over the last 3 months has been $150.0 to $285.0. Barclays maintains an Overweight rating on Visa with a price target of $287, while Oppenheimer has downgraded its action to Outperform with a price target of $248.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 7:31 pm

WEC

WEC Energy Group (NYSE:WEC) has outperformed the market over the past 15 years, producing an average annual return of 9.95%. If an investor had bought $1000 of WEC stock 15 years ago, it would be worth $4,239.65 today. The company currently has a market capitalization of $29.07 billion.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 7:30 pm

KEYS

Keysight Techs (NYSE:KEYS) has outperformed the market over the past 5 years by 13.87% on an annualized basis, producing an average annual return of 24.13%. If an investor had bought $1000 of KEYS stock 5 years ago, it would be worth $2,862.47 today.

Portfolio Pulse from Benzinga Insights

July 25, 2023 | 7:30 pm

AURC

Shares of Aurora Acquisition Corp. were halted on a circuit breaker due to a sharp downside movement. Despite this, the stock is currently up by 157.8%.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 7:29 pm