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GSK

GSK plc has acquired Aiolos Bio Inc. for $1 billion with an additional $400 million in potential milestone payments. The deal gives GSK access to AIO-001, a monoclonal antibody for asthma treatment, ready for phase 2 trials. AIO-001, licensed from Jiangsu Hengrui Pharmaceuticals, could expand GSK's respiratory portfolio, targeting a broader asthma patient base. GSK's focus on respiratory diseases is part of its strategy to offset upcoming patent expirations. In 2022, respiratory products generated £11 billion for GSK. GSK shares rose 0.30% in premarket trading.

Portfolio Pulse from Vandana Singh

January 09, 2024 | 12:26 pm

WFC

Deutsche Bank analyst Matt O'Connor downgraded Wells Fargo (NYSE:WFC) from Buy to Hold and set a price target of $51.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:25 pm

GOEV

MBLY

RENT

The article highlights three consumer discretionary stocks considered oversold based on their Relative Strength Index (RSI) values, suggesting a potential buying opportunity. Canoo Inc. (GOEV) recently purchased manufacturing assets and saw a slight stock decline, with an RSI of 29.65. Rent the Runway, Inc. (RENT) reported disappointing revenue results, leading to a 30% stock drop over the past month and an RSI of 26.16. Mobileye Global Inc. (MBLY) announced significant production design wins, yet its stock fell 26% in the past five days, with an RSI of 19.38.

Portfolio Pulse from Avi Kapoor

January 09, 2024 | 12:22 pm

PYPL

Morgan Stanley analyst James Faucette has downgraded PayPal Holdings (NASDAQ:PYPL) from Overweight to Equal-Weight and reduced the price target from $118 to $66.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:21 pm

BRO

Jefferies analyst Yaron Kinar has downgraded Brown & Brown (NYSE:BRO) from Buy to Hold and reduced the price target from $85 to $78, indicating a more cautious outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:20 pm

CCM

Concord Medical Services announced plans to list its subsidiary on the Stock Exchange of Hong Kong, expecting to raise HK$562.9M (approximately $72.2M) from the initial public offering.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:14 pm

PARA

MoffettNathanson analyst Robert Fishman has upgraded Paramount Global (NASDAQ:PARA) from Sell to Neutral and set a price target of $13.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:13 pm

NEOG

Neogen Corporation (NASDAQ:NEOG) reported Q2 earnings with an EPS of $0.11, missing the estimate of $0.14 by 21.43%. Revenue also decreased by $404 thousand compared to the same period last year. The company's stock price previously fell by 6.79% following an EPS miss last quarter.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 12:10 pm

ADMA

HC Wainwright & Co. analyst Raghuram Selvaraju has reaffirmed a Buy rating on ADMA Biologics (NASDAQ:ADMA) and increased the price target from $5 to $6.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:09 pm

CAAP

Citigroup analyst Stephen Trent has upgraded Corporacion America (NYSE:CAAP) from Neutral to Buy and set a price target of $21.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 12:09 pm