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☆ Here are JPMorgan's favorite stocks heading into March
▼ + stars: | 2024-03-04 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

JPMorgan added three new stocks into its list of top stocks heading into March, including two real estate investment trusts. The bank updated its focus list in a Friday note to include Annaly Capital , Ascendis Pharma and EPR Properties . His $20 price target implies that shares could rise nearly 4% from their Friday close. Here are some of the other top picks that made JPMorgan's list: Returning names to the list include growth stock Danaher , which is up nearly 11% this year. Analyst Tami Zakaria's $385 price target implies shares could rise more than 14% from Friday's close.

Persons: Richard Shane, Anthony Paolone, Jessica Fye, Rachel Vatnsdal's, Tami Zakaria's Organizations: JPMorgan, Annaly, Ascendis Pharma, Caterpillar Locations: Friday's

☆ US FDA declines to approve Ascendis' hormone disorder therapy
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +2 min

Companies Ascendis Pharma A/S FollowMay 1 (Reuters) - Ascendis Pharma A/S (A71.F) said on Monday the U.S. Food & Drug Administration had declined to approve the Danish drugmaker's experimental therapy to treat adult patients with a hormone disorder called hypoparathyroidism, citing concerns linked to manufacturing control of the drug and device combination. Ascendis said it would request a meeting with the FDA as soon as possible on the best path forward. Shares have lost about 35% of their value through Friday's close of $69.96 since the FDA early last month identified unspecified deficiencies in the company's application for approval of the therapy, TransCon PTH. In a note on Friday, TD Cowen analyst Yaron Werber raised concerns about the lack of clarity around the FDA decision following the Ascendis' post-earnings conference late Thursday. He said the stock would slump if the FDA sought another pre-clinical or clinical study as this would delay approval by 1.5-2 years.

☆ Big Pharma will find right formula for M&A binge
▼ + stars: | 2022-12-20 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

The year 2022 was relatively thin for pharma M&A, with deals worth nearly $66 billion being announced by early December – 60% below the 9-year average, according to Refinitiv data; 2023 will be better. It helps that drug companies are relatively healthy, with debt around just 1.6 times forecast EBITDA in 2023, according to Berenberg analysts. Seagen (SGEN.O), for example, worth $22 billion in early December, has fought off Merck & Co (MRK.N). That puts Big Pharma in an ideal negotiating position. CONTEXT NEWSGlobal pharmaceutical companies spent nearly $66 billion on takeovers in 2022, according to data from Refinitiv as of Dec. 7.

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