>>> US Research Calls

Research Calls

  • Upgrades:
    • Guardant Health (GH) upgraded to Buy from Neutral at Citigroup; tgt raised to $40
    • Hamilton Lane (HLNE) upgraded to Outperform from Perform at Oppenheimer; tgt $87
    • Materialise (MTLS) upgraded to Buy from Hold at Kepler; tgt $11
    • New Relic (NEWR) upgraded to Outperform from Sector Perform at RBC Capital Mkts; tgt raised to $95
    • Paramount Global (PARA) upgraded to Hold from Sell at Loop Capital; tgt $14
    • Pinnacle West (PNW) upgraded to Neutral from Underperform at BofA Securities; tgt raised to $78
    • Rio Tinto (RIO) upgraded to Overweight from Equal-Weight at Morgan Stanley
    • UWM Holdings (UWMC) upgraded to Buy from Hold at Jefferies; tgt raised to $7
  • Downgrades:
    • Annexon (ANNX) downgraded to Neutral from Buy at BofA Securities; tgt lowered to $3
    • Atlantica Yield (AY) downgraded to Sector Perform from Outperform at National Bank Financial; tgt $31
    • Linde plc (LIN) downgraded to Underperform from Outperform at Oddo BHF; tgt lowered to $339
    • MongoDB (MDB) downgraded to Sell from Neutral at Guggenheim; tgt raised to $210
    • Snowflake (SNOW) downgraded to Peer Perform from Outperform at Wolfe Research
    • Terran Orbital (LLAP) downgraded to Underperform from Buy at BofA Securities; tgt lowered to $1.35
  • Others:
    • American Public Education (APEI) initiated with a Hold at Truist; tgt $6
    • Banco Bilbao Vizcaya Argentaria (BBVA) initiated with an Equal Weight at Barclays
    • Clear Secure (YOU) resumed with a Hold at Stifel; tgt $28
    • CVS Health (CVS) initiated with an Overweight at Piper Sandler; tgt $85
    • Integer Holdings (ITGR) initiated with an Equal Weight at Wells Fargo; tgt $87
    • Madison Square Garden Entertainment (MSGE) initiated with a Neutral at Goldman; tgt $40
    • Madison Square Garden Entertainment (MSGE) initiated with an Equal-Weight at Morgan Stanley; tgt $40
    • Mirion Technologies (MIR) resumed with a Buy at Citigroup; tgt $11
    • OPAL Fuels (OPAL) initiated with a Buy at Janney; tgt $13
    • Physicians Realty Trust (DOC) initiated with a Mkt Outperform at JMP Securities; tgt $15.50
    • Strategic Education (STRA) initiated with a Hold at Truist; tgt $85
    • UnitedHealth (UNH) initiated with an Overweight at Piper Sandler; tgt $580
    • Vertex Pharma (VRTX) initiated with a Hold at WestPark Capital

>>> US Gapping down

Gapping down
In reaction to earnings/guidance:

  • ULTA -8.9%, BIG -8.7%, HIBB -6%, DOMO -5.7%, RH -2.8%, DECK -2.7%, BKE -0.8%

Other news:

  • TLRY -19.1% (prices offering of $150 mln of 5.20% Convertible Senior Notes due 2027)
  • THRX -13.1% (reports data from ongoing Phase 1/2 trial of THE-630)
  • RLAY -3.8% (announces full dose escalation data for RLY-4008)
  • HMST -3.6% (to be removed from S&P Small Cap 600)
  • EXAS -1.6% (files mixed shelf securities offering)
  • SWTX -1.2% (announces presentation of additional data from Phase 3 DeFi Trial)
  • HLI -1.1% (reports certain revised financial info)

Analyst comments:

  • LLAP -1.6% (downgraded to Underperform from Buy at BofA Securities)

>>> US Gapping up

Gapping up
In reaction to earnings/guidance:

  • MRVL +19%, PDD +15.1%, GPS +11.9%, WDAY +9.4% (also names new CFO), LGF.A +2.8%, BAH +2.4%, ARCE +1.7%, ADSK +1.2%

Other news:

  • PDSB +23.5% (announces interim data on PDS0101)
  • GNLX +6.5% (announces publication of topline data from Phase 2 VIRO-15 Trial)
  • PARA +5.6% (controlling shareholder secures $125 mln investment)
  • BOH +4.2% (to move to S&P SmallCap 600 from S&P MidCap 400)
  • GERN +3.8% (NDA submission on track for June 2023)
  • HCM +3.6% (Takeda Pharma and HUTCHMED receive NDA for Fruquintinib for treatment of previously treated metastatic colorectal cancer granted Priority Review; HCM also Highlights Presentations at the 2023 ASCO Annual Meeting)
  • IMAB +3% (announces phase 1b/2 study results of patients with advanced NSCLC)
  • SGML +3% (delivers on Zero Tailings strategy receives first payment and obtains premium pricing for sale of green lithium at 9% of LIOH Index)
  • GPCR +2% (initiates Phase 2a study of GSBR-1290)
  • CGEM +2% (to present first monotherapy clinical data for CLN-619)
  • CSTR +2% (completes $10 million common stock repurchase authorization and $20 million new authorization)
  • F +1.9% (reaches agreement with TSLA providing Ford EV customers access to Tesla Superchargers)
  • TEVA +1.5% (exploring options for bowel inflammation drug including a potential sale according to Bloomberg)
  • ZNTL +1.4% (Phase 1b Data Demonstrating Durable Responses and Favorable Safety Profile of Azenosertib in Combination with Chemotherapy at the 2023 ASCO Annual Meeting)
  • CUE +1.3% (presents data from phase 1 trials of CUE-101)

Analyst comments:

  • UWMC +4.1% (upgraded to Buy from Hold at Jefferies)
  • GH +3.9% (upgraded to Buy from Neutral at Citigroup)
  • NEWR +2.5% (upgraded to Outperform from Sector Perform at RBC Capital Mkts)