NVO stock rose as an analyst from Citi increased the firm's price target by 16% to $135 per share. The analyst cited the company's upcoming clinical trial results on new diabetes and obesity drugs as reasons for increased optimism. Additionally, Novo Nordisk announced a new share buyback program, sending a signal of management confidence to investors.
BURL stock is gaining as the company beat top and bottom line estimates for Q4 2023 with adjusted EPS of $3.66 vs estimate of $3.30 and sales of $3.13B vs estimate of $3.07B. BURL also introduced guidance for FY2024 with adjusted EPS outlook of $7.00-$7.60 vs estimate of $7.08. Analyst at Telsey Advisory Group reiterated outperform rating for BURL with $225 price target
DDD announced an additional partial repurchase of its convertible senior notes, reducing its remaining debt by over 50%. This was seen positively by investors as it strengthens the company's balance sheet. However, 3D Systems missed Q4 estimates on both revenue and earnings the prior week, sending shares lower. The debt repurchase signals the company is taking steps to improve its financial position following the disappointing quarterly report.
MNMD announced positive 12-week data from its Phase 2b trial of MM120 for generalized anxiety disorder. The FDA granted MM120 breakthrough therapy designation.
RIVN stock gains on optimism around the upcoming unveiling of its new R2 electric vehicle model on March 7. The R2 is expected to have a lower starting price than Rivian's current vehicles and could help boost demand.
SOUN stock saw strong gains in March 2024 driven by multiple positive developments. Previously, SoundHound AI reported record Q4 revenue growth of 80% year-over-year boosted by rising demand for its conversational AI platform.
PACB stock gained as the company recently announced multiple Form 4 filings with the SEC showing changes in beneficial ownership. These filings indicated insiders were actively buying company shares which suggests confidence in the company's future prospects.
KR reported better-than-expected Q4 results on March 7, 2024 driven by strong sales and margin expansion. The results have brightened investor sentiment towards Kroger despite macroeconomic headwinds. Analysts were positive on Kroger's Q4 results and outlook.
IONQ's CEO and other executives disclosed transactions in IONQ stock through filing Form 4 with SEC as the company pursues partnerships and collaborations to advance quantum computing. Goldman Sachs maintained a neutral rating on IONQ while lowering the price target slightly due to valuation. Needham reiterated a buy rating with a higher $18 price target citing IONQ's technology leadership in quantum computing.
BJ reported earnings for Q4 2023 on March 7, 2023 that beat analyst expectations for EPS but missed slightly on revenue expectations. The company also provided guidance for FY2024 that was mostly in-line with analyst estimates. BJ saw comparable club sales growth of 0.5% excluding gas, driven by stronger digitally-enabled sales. Membership fees also grew 6.5% to $108 million. Analysts at JP Morgan maintained an Underweight rating on BJ stock on March 1st while raising the price target to $62 per share.