Category: Latest News
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Evoke Pharma Shares Jump 50% Following Patent Approval for GIMOTI
Evoke Pharma Inc (NASDAQ:EVOK) saw its stock soar 50% after the specialty pharma company received a Notice of Allowance from the U.S. Patent and Trademark Office for its patent application covering GIMOTI, its treatment for gastroparesis. The newly allowed patent application is a continuation of U.S. Patent No. 11,517,545 and strengthens Evoke’s intellectual property protection…
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Rhythm Pharmaceuticals Shares Jump Following Promising Phase 2 Data for Obesity Drug
Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) saw its stock rise by 10% after unveiling encouraging topline results from its Phase 2 clinical trial assessing bivamelagon, a novel oral melanocortin-4 receptor agonist, in patients suffering from acquired hypothalamic obesity. The biopharma company revealed that bivamelagon produced statistically significant and clinically meaningful decreases in body mass index (BMI) after…
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Dow Jones, S&P, Nasdaq, U.S. Stocks Set for a Positive Start Amid Trade Deal Optimism and Fed Watch
U.S. stock futures indicate a modest gain for Wednesday’s open as investors look to bounce back following a mostly flat and volatile session on Tuesday. Market sentiment is buoyed by reports that the U.S. and European Union are closing in on a trade agreement, potentially involving tariffs higher than those applied to the U.K. The…
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Tandem Diabetes Shares Drop Following Citi Downgrade Over Rising Competition
Tandem Diabetes Care (NASDAQ:TNDM) saw its stock decline by 5% Wednesday morning after Citi downgraded the company from Neutral to Sell, citing increasing challenges from competitors. Analyst Joanne Wuensch cut her price target sharply, lowering it from $24 to $14, suggesting a downside of about 16% compared to Tuesday’s closing price of $16.62. The downgrade…
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ProKidney Shares Soar After Citi Lifts Price Target to $9
Shares of ProKidney Corp. (NASDAQ:PROK) jumped 65% in pre-market trading Wednesday, extending the dramatic rally seen on Tuesday, when the stock surged over 500% following encouraging clinical trial results. The price boost followed Citi’s decision to raise its price target from $6 to $9, driven by stronger-than-anticipated topline outcomes from the Phase 2 REGEN-007 trial.…
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Aehr Test Systems Stock Sinks 20% as Revenue Drops and Company Posts Quarterly Loss
Shares of Aehr Test Systems (NASDAQ:AEHR) tumbled 20% after the company reported a year-over-year decline in revenue for its fiscal fourth quarter, along with a swing to a net loss. The semiconductor testing equipment maker generated $14.1 million in revenue for the quarter, down from $16.6 million in the same period a year earlier. The…
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Merck to Acquire Verona Pharma in $10 Billion Deal to Expand Respiratory Drug Portfolio
Merck (NYSE:MRK) announced Wednesday it has struck a definitive agreement to acquire Verona Pharma PLC ADR (NASDAQ:VRNA) in a transaction valued at approximately $10 billion, or $107 per American Depositary Share. The move strengthens Merck’s position in the respiratory and cardio-pulmonary space by adding Ohtuvayre (ensifentrine) to its pipeline — a newly approved, first-in-class dual…
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Enphase Energy Shares Slide as Goldman Sachs Issues Sell Rating Amid Margin Concerns
Enphase Energy (NASDAQ:ENPH) saw its stock fall 4% on Wednesday after Goldman Sachs analyst Brian Lee issued a Sell rating, downgrading the solar technology firm from Buy and slashing his price target to $32, down from $77. The revised target implies a roughly 25% downside from Tuesday’s closing price of $40.94. The stark shift in…
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Illumina Shares Slip After Citi Issues Bearish Rating Ahead of Earnings
Shares of Illumina Inc. (NASDAQ:ILMN) dropped 3.8% on Wednesday after Citi downgraded the stock from Neutral to Sell, warning that the company’s outlook for the latter half of the year may be overly optimistic. Citi analyst Patrick Donnelly cut his price target from $85 to $80, suggesting a potential downside of nearly 20% from Tuesday’s…
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Dollar Hovers Near Two-Week Peak Ahead of Fed Minutes; Euro Drops on Trade Tensions
The U.S. dollar remained firm early Wednesday, trading close to its highest level in over two weeks, as markets reacted to escalating trade rhetoric from President Donald Trump, including the threat of a 50% tariff on copper imports. As of 04:45 ET (08:45 GMT), the U.S. Dollar Index—which measures the greenback against six major currencies—rose…