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ENVB

Enveric Biosciences, Inc. (NASDAQ:ENVB) shares surged after announcing three non-binding term sheets with an undisclosed biotech company for out-licensing compounds, potentially earning up to $200 million plus royalties. The deals are contingent on IND approvals and successful Phase I-III testing. CEO Joseph Tucker highlighted the potential revenue and value creation from Enveric's discovery platforms. Additionally, ENVB has an average 1-year price target of $10, indicating a significant upside.

Portfolio Pulse from Erica Kollmann

February 29, 2024 | 4:16 pm

GDRX

GoodRx Holdings, Inc. (NASDAQ:GDRX) shares surged after reporting Q4 FY23 results with revenue and adjusted revenue up 7% Y/Y to $196.6 million, surpassing estimates. Prescription transactions revenue increased 11% to $143.9 million, driven by an 8% rise in Monthly Active Consumers. Adjusted EBITDA and EPS also beat expectations. The company announced a new stock repurchase program worth $450 million and provided FY24 revenue guidance above consensus.

Portfolio Pulse from Lekha Gupta

February 29, 2024 | 4:16 pm

PSCD

SIX

Six Flags Entertainment Corp (NYSE:SIX) reported a 5% year-on-year sales growth for Q4 fiscal 2023, reaching $293 million, which missed the analyst consensus of $297.5 million. The adjusted EPS was 18 cents, below the consensus of 27 cents. Attendance increased by 6% Y/Y to 4.3 million guests, but total guest spending per capita decreased by 1% Y/Y to $64.19. Operating income and margin significantly declined Y/Y, while adjusted EBITDA remained nearly flat. The company noted early success in sales of 2024 passes, which are ahead of last year. Invesco S&P SmallCap Consumer Discretionary ETF (NASDAQ:PSCD), with 1% exposure to SIX, gained close to 6% last month. SIX shares traded higher by 4.07% at $25.60 premarket.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 4:14 pm

FA

First Advantage's stock is trading lower due to disappointing Q4 results and weak 2024 guidance. Additionally, the company plans to acquire Sterling Check for $2.2 billion in a cash and stock deal.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:10 pm

QURE

Goldman Sachs analyst Salveen Richter downgraded uniQure (NASDAQ:QURE) from Buy to Neutral and significantly reduced the price target from $63 to $8, indicating a bearish outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:09 pm

STRA

Strategic Education's shares surged following the announcement of their fourth-quarter financial results, which exceeded expectations.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:06 pm

BUD

Anheuser-Busch InBev SA/NV (NYSE:BUD) reported Q4 fiscal 2023 revenue of $14.473 billion, missing consensus estimates of $15.49 billion, with a 6.2% organic growth year-over-year. Total volumes declined by 2.6%, with own beer volumes down 3.6%. U.S. revenues fell 17.3% Y/Y, largely due to Bud Light's volume decline. Gross profit and normalized EBITDA saw organic growths of 5.3% and 6.2%, respectively. The company executed $870 million of its $1 billion share repurchase program. BUD shares dropped 3.28% to $60.40.

Portfolio Pulse from Akanksha Bakshi

February 29, 2024 | 4:05 pm

PSNY

Polestar's stock price increased following the announcement that Nanjing Jiangning Economic and Technological Development Zone Industrial Equity Investment Partnership will invest about $208.4 million in its joint venture.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:05 pm

CAVA

Financial analysts have observed a bullish trend in the options market for Cava Group (NYSE:CAVA), with a significant number of trades indicating a positive outlook. Analysis of recent trades shows a majority of bullish sentiment, with a price target range from $45.0 to $70.0. The company's stock price has recently increased by 3.87%, reaching $59.1, amidst speculation of being overbought. Industry analysts maintain a positive outlook, with an average target price of $61.8. Notable ratings include Outperform from Wedbush and Overweight from Piper Sandler.

Portfolio Pulse from Benzinga Insights

February 29, 2024 | 4:02 pm

ARGT

BMA

MELI

Argentine stocks surged following rumors of a new IMF deal aiming to secure additional funding and accelerate Argentina's exit from capital controls. President Milei is determined to advance reforms, targeting the elimination of dollar exchange controls by mid-year with IMF support. The Global X MSCI Argentina ETF (ARGT) and stocks like MercadoLibre Inc. (MELI) and Banco Macro S.A. (BMA) saw notable increases. Argentina faces severe economic challenges, including a 250% inflation rate, and has a significant debt obligation to the IMF.

Portfolio Pulse from Piero Cingari

February 29, 2024 | 4:02 pm