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ALHC

Stephens initiated coverage on Alignment Healthcare Inc (NASDAQ:ALHC) with an Equal Weight rating and a price target of $9. The analysts are looking for signs of the company's capacity to achieve sustainable Adjusted EBITDA profitability in 2024 and beyond. Despite significant capabilities and a notable enrollment growth rate, the company has not yet achieved its profitability goal. The Medicare Advantage market is expected to face a challenging reimbursement landscape in 2024.

Portfolio Pulse from Vandana Singh

October 12, 2023 | 6:31 pm

K

Barclays analyst Andrew Lazar maintains an Underweight rating on Kellanova (NYSE:K) and has lowered the price target from $69 to $57.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 6:29 pm

GOLD

A significant amount of unusual options activity has been observed for Barrick Gold (NYSE:GOLD), with a bearish stance being taken by a majority of investors. Of the 15 strange trades detected, 53% were bearish and 46% bullish. The total amount for the 3 puts was $124,308 and for the 12 calls was $648,000. Whales have been targeting a price range from $13.0 to $17.0 for Barrick Gold over the last 3 months. The price of GOLD is currently down -0.69% at $15.12. UBS, BMO Capital, and Jefferies have maintained their Buy, Outperform, and Hold ratings respectively.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 6:22 pm

CAT

A whale investor has taken a bearish stance on Caterpillar (NYSE:CAT), with 72% of the spotted trades being bearish. The trades include 6 puts amounting to $447,980 and 5 calls amounting to $338,960. The targeted price range for Caterpillar over the last 3 months is from $262.5 to $320.0. The current price of CAT is down -1.08% at $269.88, and RSI indicators suggest it may be approaching oversold. The next earnings are expected in 14 days.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 6:22 pm

MRNA

A significant bearish stance has been taken on Moderna (NASDAQ:MRNA) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 40% bullish and 60% bearish. The whales have been targeting a price range from $79.0 to $150.0 for Moderna over the last 3 months. Argus Research maintains their Buy rating on Moderna, with a price target of $140.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 6:22 pm

JKHY

Goldman Sachs has downgraded Jack Henry & Associates from Neutral to Sell and set a price target of $140. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 6:17 pm

RMD

ResMed's stock has been downgraded from Outperform to Sector Perform by RBC Capital, which also lowered its price target from $273 to $202. This has resulted in ResMed shares trading lower.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 6:14 pm

PMVP

PMV Pharmaceuticals Inc announced updated Phase 1 results from its ongoing Phase 1/2 PYNNACLE trial, showing that PC14586 achieved efficacy in heavily pretreated patients across multiple tumor types and was well tolerated. The overall response rate was 38% at the Recommended Phase 2 Dose of 2000 mg daily. A recommended phase 2 dose of 2000 mg once daily was selected based on overall safety, pharmacokinetics, and efficacy. PMV plans to initiate a registrational Phase 2 trial in early 2024. PMVP shares are down 39.20% at $2.89.

Portfolio Pulse from Vandana Singh

October 12, 2023 | 6:13 pm

EDSA

Edesa Biotech Inc (NASDAQ:EDSA) has secured a commitment of up to C$23 million from the Government of Canada for a Phase 3 clinical study of the company's first-in-class therapeutic candidate, EB05. The drug, which reduced mortality by 84% among critically ill patients with ARDS in a Phase 2 study, is designed to modulate the body's immune response to infectious diseases. The funding will be used for study expenses and scale-up of commercial drug product if successful. EDSA shares are up 81.50% at $4.90.

Portfolio Pulse from Vandana Singh

October 12, 2023 | 6:10 pm

RVLP

RVL Pharmaceuticals plc's (NASDAQ:RVLP) operating subsidiaries are filing for bankruptcy in a prepackaged deal with lender Athyrium Capital. The reorganization will allow the RVL subsidiaries to reduce debt, streamline operations, and position themselves under new ownership. RVL's public equity is expected to be canceled upon completion of its wind-down, anticipated during 2024, likely resulting in no recovery to public shareholders. RVLP shares are down 65.2% at $0.05 on the last check Thursday.

Portfolio Pulse from Vandana Singh

October 12, 2023 | 6:08 pm