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PBM

Psyence Biomedical Ltd. (NASDAQ:PBM) shares surged following the announcement that its subsidiary, Psyence Australia, received approval to initiate a Phase IIb study on psilocybin for Adjustment Disorder in palliative care. The stock experienced heavy trading volume, with over 126 million shares traded, significantly above its 100-day average. The company aims for a paradigm shift in palliative care treatment. Year to date, PBM shares have gained 43.4%, outperforming historical averages. The stock's RSI of 97.01 indicates overbought conditions.

Portfolio Pulse from Erica Kollmann

March 08, 2024 | 5:15 pm

LYT

MSTR

ON

PLD

SOFI

Benzinga's Stock Whisper Index highlights five stocks: Lytus Technologies (LYT), MicroStrategy (MSTR), ON Semiconductor (ON), SoFi Technologies (SOFI), and Prologics (PLD). LYT surged after launching Lytus Cloud, MSTR continues to invest in Bitcoin, ON Semiconductor sees investor interest with mixed analyst ratings, SOFI's stock dipped after a convertible notes offering, and PLD attracts attention amid commercial real estate concerns.

Portfolio Pulse from Chris Katje

March 08, 2024 | 5:10 pm

RIVN

Rivian Automotive unveiled the R2 SUV and previewed the R3 and R3X models, receiving mixed analyst ratings. Wedbush sees it as a positive step but acknowledges challenges ahead. Truist appreciates the focus on the Illinois factory for cost savings, while Goldman Sachs views the R2 launch as a market expansion opportunity. Analysts highlight the competitive EV market and supply chain issues as risks. Rivian's stock rose 6% following the event.

Portfolio Pulse from Chris Katje

March 08, 2024 | 5:09 pm

CAN

CLSK

MARA

MSTR

RIOT

Crypto-related stocks such as CAN, CLSK, MARA, MSTR, and RIOT are experiencing an uptick in their share prices due to the ongoing rally in Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 5:05 pm

CMCSA

XLC

Comcast Corp (NASDAQ:CMCSA) stock has triggered a Death Cross, indicating potential future challenges despite a 15% gain over the past year. The stock is down 4.8% year-to-date, facing headwinds such as slow wireless subscriber growth, cable losses, and high debt. Analysts are divided on Comcast's outlook, with recent ratings ranging from Equal-Weight to Buy, and price targets adjusting accordingly. The Communication Services Select Sector SPDR ETF (NYSE:XLC) is mentioned as a comparison point, highlighting Comcast's underperformance in the sector.

Portfolio Pulse from Surbhi Jain

March 08, 2024 | 5:05 pm

ROKU

Recent unusual options activity on Roku (NASDAQ:ROKU) indicates a split sentiment among big-money traders, with 68% bullish and 31% bearish. Significant trades include both puts and calls, targeting a price range of $40.0 to $105.0. Roku's current market position shows a 1.97% price increase to $64.31, with potential overselling indicated by RSI. Analyst ratings present a mixed outlook, with a consensus target price of $101.2 but varying individual analyst opinions.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:00 pm

TRMD

Evercore ISI Group has reaffirmed its Outperform rating on TORM (NASDAQ:TRMD) and increased its price target from $42.00 to $44.00. Despite a 0.9% decline in TORM's share price over the last 24 hours to $32.90, the new price target suggests a potential upside of 33.74%. TORM PLC is a shipping company specializing in the transportation of refined oil products.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:00 pm

V

Jefferies has reaffirmed its Buy rating on Visa (NYSE:V) and increased its price target from $305.00 to $320.00. Visa's shares have risen by 0.51% in the last 24 hours to $279.69. The new price target suggests a potential upside of 14.41%. Visa is the world's largest payment processor, handling over $14 trillion in transactions in fiscal 2022 across more than 200 countries.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:00 pm

FITB

Fifth Third Bancorp (NASDAQ:FITB) has received mixed analyst ratings over the past three months, with 8 analysts offering evaluations. The ratings range from bullish to indifferent, with recent updates showing a positive trend in price target adjustments. The average 12-month price target is now $39.0, marking a 12.81% increase from the previous average of $34.57. Analysts from firms like Piper Sandler, Morgan Stanley, and UBS have raised their price targets, reflecting optimism about the company's future performance. Despite a recent decline in revenue growth of -7.97%, Fifth Third Bancorp maintains strong financial indicators such as a high net margin of 23.46% and an impressive ROE of 3.13%.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:00 pm

BX

Over the past decade, Blackstone (NYSE:BX) has delivered an average annual return of 14.47%, turning a $1000 investment into $3,765.83 today. With a current market capitalization of $94.50 billion, Blackstone's performance highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:00 pm