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ABBV

AXSM

BMY

UBS initiated coverage on Axsome Therapeutics Inc (AXSM) with a Buy rating and a price target of $111, citing bullish prospects for its depression drug Auvelity and pipeline opportunities. UBS anticipates Auvelity could generate $1 billion in sales by 2030. Positive Phase 3 trial data for Alzheimer's Agitation and Narcolepsy could further boost AXSM's stock. The sector sees increased investor interest after Bristol Myers Squibb (BMY) and AbbVie (ABBV) made significant acquisitions. Axsome's Q4 2023 revenue is preliminarily reported at $71 million, with full-year revenue at $204 million.

Portfolio Pulse from Vandana Singh

February 06, 2024 | 7:19 pm

QS

Deep-pocketed investors have shown a significant interest in QuantumScape (NYSE:QS), with a bullish sentiment prevailing among 60% of them based on recent options activity. The activity includes 10 extraordinary options trades, with a focus on a price target range of $5.0 to $10.0 for QS. The trading volume and open interest in these options have been notably high, indicating a strong investor focus on QuantumScape's performance. The company, known for its development of solid-state lithium-metal batteries for electric vehicles, is currently trading at $6.77 with an upcoming earnings announcement in 8 days.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 7:16 pm

C

Citigroup (NYSE:C) has seen unusual options activity, indicating a bullish sentiment among significant investors, with a mix of 53% bullish and 46% bearish trades. The activity includes 30 uncommon trades, with a preference for calls over puts. The predicted price range for Citigroup is $40.0 to $70.0 over the next three months. This activity, combined with Citigroup's current trading volume and RSI values, suggests potential movement in its stock price.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 7:16 pm

PDD

PDD Holdings Inc – ADR (NASDAQ:PDD) shares increased by 3.5% to $125.33, likely due to potential Chinese government stimulus measures. This comes as Chinese equities, including major companies like JD.com and Alibaba, saw significant gains following government support pledges. The broader Chinese market has faced substantial losses over the past three years, but recent government actions have sparked a rebound.

Portfolio Pulse from Henry Khederian

February 06, 2024 | 7:13 pm

AVGO

GOOG

GOOGL

META

MSFT

JPMorgan analyst Harlan Sur initiated coverage of Broadcom Inc (NASDAQ:AVGO) with an Overweight rating and a $1,550 price target, highlighting its leadership in AI, cloud datacenter, and semiconductor infrastructure. Broadcom's strategic partnerships with Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Meta Platforms Inc (NASDAQ:META), and Microsoft Corp (NASDAQ:MSFT) in custom chip (ASIC) opportunities are emphasized. Sur projects FY24 revenue and EPS close to consensus estimates and anticipates significant earnings power by the second half of 2025.

Portfolio Pulse from Anusuya Lahiri

February 06, 2024 | 7:11 pm

NYCB

New York Community Bancorp (NYCB) faces a proposed shareholder class action lawsuit due to recent disclosures and a subsequent decline in stock price, according to a Reuters report citing court filings.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 7:10 pm

FDMT

REGN

4D Molecular Therapeutics (NASDAQ:FDMT) released positive Phase 2 data for 4D-150 in wet AMD, meeting investor expectations. BMO Capital Markets raised the target price to $70 from $50, maintaining an Outperform rating and naming FDMT a top pick for early 2024. The data suggests 4D-150's superiority over Regeneron's (NASDAQ:REGN) Eylea in safety and efficacy. FDMT is exploring partnerships for 4D-150's development outside the U.S., with rapid trial enrollment expected to accelerate the development timeline. FDMT shares dropped 6.6% to $30.15.

Portfolio Pulse from Vandana Singh

February 06, 2024 | 7:05 pm

CMI

Cummins shares are trading higher following the announcement of mixed Q4 financial results. The company's performance in the last quarter has sparked investor interest, leading to an increase in stock price.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 7:03 pm

FORM

FormFactor (NASDAQ:FORM) is scheduled to release its quarterly earnings report on February 7, 2024, with analysts estimating an EPS of $0.22. Investors are hopeful for a beat on this estimate and positive guidance for the next quarter. Historically, FormFactor's stock price has shown mixed reactions to past earnings performances, with a notable 12.02% increase in Q4 2022 after beating EPS estimates. Currently, shares are trading at $39.29, marking a 32.46% increase over the last 52 weeks.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 7:02 pm

BARK

BARK (NYSE:BARK) is scheduled to release its quarterly earnings report on February 7, 2024, with analysts expecting an EPS of $-0.05. The company's past earnings performance shows a mixed impact on its stock price, with the last quarter's beat resulting in a 10.5% drop. Shares are currently trading at $0.8654, down 55.52% over the last year. Investors are looking for positive guidance for the next quarter.

Portfolio Pulse from Benzinga Insights

February 06, 2024 | 7:02 pm