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☆ Citi names 3 biotech stocks to play a growing $2.9 billion opportunity — giving one about 50% upside
▼ + stars: | 2024-05-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

The outlook is starting to look bright for biotech stocks, according to some. With markets now expecting the first rate cut to be in September rather than June or July, as previously thought, biotech stocks could start to do well. Biotech encompasses many different areas, but Citi has identified one with a $2.9 billion market — which it says is set for even more growth. It gave CSL a price target of $305, or nearly 11% potential upside. It gave Intellia a price target of $31, or 49% potential upside.

Persons: Morgan Stanley, Garadacimab, Ionis, Citi Organizations: Biotech, Citi, Ionis Pharmaceuticals, Intellia Therapeutics, CSL, Intellia

☆ Wall Street says small-cap stocks are a good bet in a choppy market. Here are the top names
▼ + stars: | 2023-10-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Small-cap stocks were on investors' radar last week. The Russell 2000 index turned in five straight days of gains for the first time since mid-July, according to CNBC analysis. "We're in consumer staples stocks and Russell 2000 stocks," said Niles, adding that Pepsi is the fourth-largest holding in his Satori Fund's consumer staples basket. Both Citi and Morningstar said small-cap stocks now look cheaper than the broader market. How to play small-caps One of the more popular ways to invest in small-cap stocks is through the iShares Russell 2000 ETF (IWM).

Persons: Russell, Dan Niles, CNBC's, Niles, David Bailin, Morningstar, Davidson, — CNBC's Michelle Fox, Fred Imbert Organizations: CNBC, Russell, Pepsi, Citi, Citi Global Wealth's, Morningstar Equity Research, Ionis Pharmaceuticals, Screen CNBC Pro Locations: Israel, Gaza

☆ This little-known pharma stock can rally 50%, Citi says
▼ + stars: | 2023-07-31 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

It's time to buy shares of Ionis Pharmaceuticals , according to Citi. The firm upgraded the stock on Monday to buy from neutral and raised its price target to $60 from $36. "Though HAE is a competitive market, Phase II data hints that it could have an attractive product profile and be a meaningful player," Lebowitz said. Given current valuation, we view the risk-reward on Ionis shares as being skewed positive." Lebowitz also highlighted donidalorsen's phase 2 test performance, which underpinned the stock upgrade.

Persons: David Lebowitz, eplontersen, HAE, Lebowitz, donidalorsen, Ionis, Michael Bloom Organizations: Ionis Pharmaceuticals, Citi, AstraZeneca, donidalorsen, Ionis

☆ BridgeBio's heart disease drug meets late-stage study goal, shares soar
▼ + stars: | 2023-07-17 | by ( Khushi Mandowara | ) www.reuters.com time to read: +2 min

July 17 (Reuters) - BridgeBio Pharma Inc's (BBIO.O) experimental drug for a rare heart disease showed significant improvement in patients in a late-stage study, sending its shares surging 65% on Monday. BridgeBio's drug improved survival by 81% in the study patients compared to 74% on the placebo, and also reduced frequency of heart disease-related hospitalization by 50%. The California-based company also provided additional data comparing it with Pfizer's drug. Acoramidis showed 92% improvement on heart failure test, compared to patients on placebo and Pfizer's drug at 30 months. The additional data suggests that BridgeBio's drug was better than tafamidis in controlling the disease, said TD Cowen analyst Tyler Van Buren.

Persons: acoramidis, Acoramidis, Cowen, Tyler Van, Luca Issi, BridgeBio, BridgeBio's, Khushi, Nivedita Bhattacharjee Organizations: BridgeBio Pharma, Alnylam Pharmaceuticals, Ionis Pharmaceutical, RBC Capital, U.S . Food, Drug Administration, Thomson Locations: U.S, California, Tyler Van Buren, Bengaluru

☆ Novartis buys Chinook for $3.5 bln in race to treat rare kidney disease
▼ + stars: | 2023-06-12 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

June 12 (Reuters) - Novartis (NOVN.S) said it has agreed to acquire U.S. biotech firm Chinook Therapeutics (KDNY.O) for up to $3.5 billion to boost its late-stage drug development line-up, raising the stakes in the race for a rare kidney disease treatment. The other drug hopeful is iptacopan, which is being trialled against a number of rare genetic disorders, including IgAN and another kidney disease. IgAN is a progressive autoimmune disease that mostly affects young adults and which can lead to kidney failure that requires dialysis or organ transplantation. IgAN is the most common cause of kidney failure in Caucasian young adults, Novartis added. Additional reporting by Miranda Murray; Editing by Kim Coghill, Sonali Paul and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Novartis, Vas Narasimhan, Narasimham, atrasentan, Narasimhan, Kisqali, Roche, Vera, Muddy Waters, Miranda Murray, Kim Coghill, Sonali Paul, Alexander Smith Organizations: Novartis, Chinook Therapeutics, Vera Therapeutics, Sandoz, Chinook, Thomson Locations: Seattle, United States

☆ FDA grants accelerated approval for Biogen ALS drug that treats rare form of the disease
▼ + stars: | 2023-04-25 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The Food and Drug Administration on Tuesday granted accelerated approval for Biogen 's drug tofersen, which treats a rare and aggressive form of the disease known as ALS. Accelerated approval is an FDA designation that clears drugs faster if they fill an unmet medical need for serious conditions. If a subsequent trial confirms those benefits, the FDA can grant traditional approval for the drug. An independent panel of advisors to the FDA last month similarly voted that tofersen's effect on neurofilament could produce a clinical benefit in ALS patients. Stephanie Fradette, Biogen's head of ALS development, said those SOD1 protein levels are "indirect evidence" that tofersen targets the rare form of ALS.

☆ Morningstar: Buy these 14 cheap stocks that still have room to rally in a bear market
▼ + stars: | 2022-11-24 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +4 min

Contrary to intutition, bear market rallies may make it tougher for investors to do their jobs. Morningstar shared 14 stocks that are still cheap, despite beating the market. Then, they whittled that list down to the stocks that Morningstar analysts considered undervalued. Finally, Morningstar analysts highlighted AstraZeneca (AZN), noting its strong pipeline and its development of drugs that carry high pricing power. The full list of Morningstar's 14 undervalued bear market stars is below, along with each firm's ticker, sector, bear market return, and price discount.

☆ Wells Fargo says buy small caps over large caps. Here are 10 favorites
▼ + stars: | 2022-11-08 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Small-cap stocks in Wells Fargo's portfolio are poised to outperform their larger counterparts. "Last year we said small-cap Quality was historically mispriced, but did not think the macro environment favored small caps over large caps," he said in a Monday note to clients. "Going forward, we still believe in a High Quality approach, and we now expect small caps to outpace large caps." Harvey said small caps are technically oversold, but they are beginning to "bounce" while having "more attractive" valuations. The portfolio includes about three dozen stocks that Wells Fargo calls "high quality" small caps.

☆ The Fed, earnings, jobs and China: How we think about this week's deluge of data
▼ + stars: | 2022-11-04 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It is very premature, in my view, to think about or be talking about pausing our rate hikes. The news sent those stocks reliant on China for growth — Starbucks, Estee Lauder and Wynn Resorts, among many others — higher. Or bad news could just be bad news if weak data signals a recession ahead. And good news could be good news: for example, if China reopens and U.S. companies exposed to the region see a boost in demand. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

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