Dernières nouvelles pour Procaps Gr (NASDAQ:PROC) Stock

Procaps Gr

Procaps Group SA is a developer of pharmaceutical and nutraceutical solutions, medicines, and hospital supplies. It develops, manufactures, and markets over-the-counter (OTC) and prescription drugs, nutritional supplements, and high-potency clinical solutions. The company's segment includes NextGel; Procaps Colombia; CAN; CASAND and Diabetrics. It generates maximum revenue from the Procaps Colombia segment.

Procaps Group SA

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News

Guidance

CRGO

Freightos Expects Q4 Revenue Of $6.4M - $6.5M (Est $6.587M)

<ul>
<li>50% of patients who received repeated doses (n=10) remained alive and in remission beyond the expected median overall survival (OS) from standard-of-care Stupp regimen while none of the patients who received a single dose (n=3) achieved this outcome.</li>
<li>Biopsy results confirmed the presence and persistence of gamma-delta T cells along with CD3+ and CD8+ T cells within the brain tumor microenvironment in two patients following treatment with INB-200.</li>
<li>Patients in the multi-dose cohorts demonstrated a trend toward improved peripheral T cell recovery, suggesting potential immune system benefits.</li>
<li>The majority of patients exceeded their expected progression free survival (PFS) based on age and tumor status; five patients remain alive and three patients have returned to their occupations, with one patient remaining progression free at 40.5 months post treatment.</li>
</ul>

Biotech

Health Care

General

INAB

IN8Bio Presented Results From The Fully Enrolled Phase 1 Trial Of INB-200 At The Annual Meeting Society For Neuro-oncology

2024 Guidance
The company expects the 13-week fourth quarter 2024 net sales to range between a decline of 6.5% to a decline of 4.5%, compared to $2,912 million for the 14-week fourth quarter 2023. We expect fourth quarter net sales will incur a headwind of approximately 500 basis points due to the shifted fiscal calendar, resulting from and including the extra week in 2023. Fourth quarter earnings per diluted share is expected to be between $1.94 and $2.07, compared to $2.55 in the fourth quarter 2023, and adjusted earnings per diluted share of $2.06 in the fourth quarter 2023.

Earnings

BBWI

Bath & Body Works Expects Q4 Net Sales To Decline Of 6.5% To Decline Of 4.5%; Sees EPS Of $1.94-$2.07 Vs. $1.97 Est.

Freightos Says Full-year Revenue Guidance Now At Higher End Of Previous Range; Revises Forecast From $23.4M - $23.7M To $23.6M - $ 23.7M (Est $23.549M)

Abbott (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABT#NYSE">ABT</a>) today announced the first patient procedures with its investigational transcatheter aortic valve implantation (TAVI) balloon-expandable system for treating&nbsp;symptomatic severe aortic stenosis. This investigational Abbott TAVI system is the first step toward Abbott's software-guided balloon-expandable TAVI system&nbsp;and is designed to build a foundation for artificial intelligence (AI) guided procedures. Once the investigational balloon-expandable system completes clinical development and is approved by regulatory authorities, Abbott's structural heart portfolio will offer physicians another TAVI management option to meet the patient's&nbsp;needs along with the company's Navitor&#x2122; TAVI system, which is already commercially available.
The aortic valve is a heart valve that controls the flow of oxygen-rich blood to the body. With age, calcium may build up in the valve and cause it to narrow – a condition known as aortic stenosis – resulting in the heart needing to work harder to pump blood through the valve. Left untreated, aortic stenosis can cause symptoms, such as chest pain, shortness of breath and fainting, and it can weaken the heart and become life-threatening. Patients who are at risk of open-heart surgery due to age, frailty or having multiple other conditions may benefit from minimally invasive treatment options where a device is delivered to the heart through an artery in the leg. Aortic stenosis remains the most common primary valve disease and its prevalence increases with age, ranging from approximately 2% in adults 70-80 years of age to 9% in adults older than 80 years.1
The investigational system is a type of balloon-expandable TAVI device, which works by crimping the new heart valve on a deflated balloon. The balloon with the mounted valve is then inserted into the body through an artery in the groin and routed up to the heart. Once properly positioned inside the narrowed heart valve, the balloon is inflated to expand the new valve, taking over the function of the patient's narrow native heart valve. The balloon is then deflated and removed from the body.

Abbott Tests New Balloon-Expandable TAVI System for Aortic Stenosis, Launches First Patient Procedures With Investigational TAVI Device

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang emphasized the company&#8217;s quarter-century presence in China&#8217;s technology ecosystem during a speech at the Hong Kong University of Science and Technology, highlighting how the region helped shape the now-dominant artificial intelligence chip giant.
What Happened: Speaking at HKUST&#8217;s 2024 Congregation, Huang <a href="https://www.youtube.com/watch?v=_gYHTjbguM8">revealed</a> that Nvidia&#8217;s design centers in Hong Kong, Beijing, and Shenzhen have been instrumental in building both the company and China&#8217;s broader technology landscape. 
&#8220;We&#8217;ve had the benefit, the great joy, and the privilege of watching the amazing technology industry form in China,&#8221; Huang said.
The comments come as Nvidia rides unprecedented demand for its AI chips, with recent third-quarter revenue reaching $35.1 billion, up 94% year-over-year. The company&#8217;s data center segment alone generated $30.8 billion, underlining its <a href="https://www.benzinga.com/24/11/42102796/nvidia-projects-gross-margin-recovery-as-blackwell-systems-drive-unprecedented-ai-demand">dominance in AI computing infrastructure</a>.
See Also: <a href="https://www.benzinga.com/news/global/24/11/42156160/palantir-price-target-raised-to-75-by-dan-ives-amid-288-ytd-surge-analyst-calls-2025-a-primetime-year-for-ai">Palantir Price Target Raised To $75 By Dan Ives Amid 288% YTD Surge: Analyst Calls 2025 A &#8216;Primetime&#8217; Year For AI</a>
Why It Matters: Previously, Huang disclosed a significant missed opportunity during an AI summit in Tokyo. He expressed regret at declining SoftBank Group CEO Masayoshi Son&#8216;s offer years ago to finance a complete buyout of Nvidia, <a href="https://www.benzinga.com/markets/equities/24/11/41962451/nvidias-ceo-reveals-the-massive-deal-he-missed-and-why-it-is-today-a-3-6-trillion-regret">now valued at $3.6 trillion</a>.
The CEO&#8217;s remarks at HKUST highlighted AI&#8217;s transformative impact across industries, citing recent Nobel Prize victories in physics and chemistry related to neural networks and protein prediction. &#8220;AI is certainly the most important technology of our time and potentially of all time,&#8221; Huang stated.
Wall Street remains bullish on Nvidia&#8217;s trajectory, with Wedbush analyst Dan Ives describing recent results as a &#8220;jaw-dropper.&#8221; The company projects <a href="https://www.benzinga.com/news/global/24/11/42129914/jim-cramer-doubles-down-on-nvidia-demand-is-accelerating-as-ai-customers-have-no-choice-but-to-buy-its-chips">fourth-quarter revenue</a> of $37.5 billion, supported by major deployments like Oracle Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) planned AI computing clusters using over 131,000 Blackwell GPUs.
Price Action: Nvidia&#8217;s stock has surged more than 194.69% year-to-date, outperforming other major tech companies including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
Read Next: 
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</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Nvidia Corp on Flickr<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

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ORCL

Jensen Huang Credits China's 'Amazing' Tech Ecosystem For Helping Shape AI Giant Nvidia

ALNY

The FDA Has Alnylam Pharmaceuticals' Supplemental Marketing Application For Vutrisiran For ATTR Amyloidosis With Cardiomyopathy, Based On The Company's Use Of A Priority Review Voucher, FDA Has Set An Action Date Goal Of March 23, 2025

Mobix Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOBX#NASDAQ">MOBX</a>), a global innovator in advanced connectivity solutions, today announced it has agreed to acquire Spacecraft Components Corp., a Nevada-based leader in high-precision, mission-critical components for aerospace, defense, and commercial applications. The acquisition, which is expected to close in the first quarter of 2025, represents a significant strategic milestone for Mobix Labs as it expands its presence into new markets and strengthens its leadership in key industries.
Spacecraft Components is recognized for its cutting-edge engineering and manufacturing capabilities. Spacecraft delivers electrical connector components and accessories that are vital to mission critical missile technology, submarines, naval ships, oil rigs, railcars, military and commercial jet aircraft, and many other applications. Notably, its components are utilized in the Patriot Missile—the U.S. Army's primary missile defense system—and tactical manned and autonomous vehicles. Additionally, Spacecraft supplies key components for railcar systems in major metropolitan areas such as Chicago and New York.
Strategic Fit and Market Expansion
As a long-standing supplier to Mobix Labs, Spacecraft Components Corp. has provided high-quality components for Mobix Labs' products. This acquisition is a natural fit, allowing Mobix Labs to integrate Spacecraft's expertise and expand into the aerospace, military, and defense sectors; while also entering the transportation market as a new revenue stream.
"This acquisition is transformative for Mobix Labs, aligning with our strategy to diversify our markets and strengthen our position in mission-critical industries," said Fabian Battaglia, CEO of Mobix Labs. "Spacecraft's exceptional reputation and product offerings, combined with Mobix Labs' innovation and expertise, will drive significant growth opportunities for both companies. We are thrilled to welcome their talented team to Mobix Labs as we shape a stronger future together."
Operational and Financial Impact
The acquisition is expected to increase Mobix Labs' workforce by approximately 150 employees, primarily based in Nevada. Spacecraft Components reported unaudited revenues of $18.1 million in 2023, with forecasted growth for the next two years. Spacecraft's compiled unaudited non-GAAP financials represent it has positive earnings and cash flow. The acquisition is expected to be accretive to Mobix Labs' earnings. If the transaction closes as anticipated, it will materially increase Mobix Labs' revenue in fiscal year 2025.
"This partnership provides an exciting opportunity for Spacecraft to grow alongside Mobix Labs," said Craig Wiseman, President of Spacecraft Components. Wiseman also stated that "by combining our manufacturing expertise with Mobix Labs' advanced technologies, we are poised to deliver even greater value to our customers across the aerospace, defense, and transportation sectors."
Transaction Details and Closing Conditions
The terms of the transaction include a purchase price ranging from $18 million to $24 million, with consideration to be paid in a combination of cash and equity, subject to earnout provisions, all of which will be finalized subject to completion of due diligence. The deal remains subject to final due diligence and the approval of the boards of directors of both companies.

MOBX

Mobix Labs Acquires Spacecraft Components in $18M-$24M Deal

For fiscal 2024, the company has raised its full-year net sales and earnings guidance from the guidance provided in August. We now expect net sales to range between a decline of 2.5% to a decline of 1.7%, relative to $7,429 million in fiscal 2023. The 53rd week in fiscal 2023 represents a headwind of approximately 100 basis points to net sales change in fiscal 2024. Full-year 2024 earnings per diluted share is now expected to be between $3.46 and $3.59, compared to earnings per diluted share of $3.84 in 2023. Full-year 2024 adjusted earnings per diluted share is now expected to be between $3.15 and $3.28, compared to adjusted earnings per diluted share of $3.27 in fiscal 2023. The company's full-year guidance includes the anticipated impact of $400 million of cash deployed towards share repurchases.

Bath & Body Works Raises 2024 Guidance: Now Expects Net Sales To Decline Of 2.5% To Decline Of 1.7% (Prior Decline Of 4% To Decline Of 2%); Revises Adjusted EPS Forecast To $3.15-$3.28 (Prior $3.06 - $3.26) Vs. $3.18 Est.

BBIO

Trading Halt: Halt status updated at 7:05:00 AM ET: Quotation Resumption: News and Resumption Times

U.S. stocks could get off to a positive start on Monday amid upbeat investor sentiment spurred the Dow Jones to <a href="https://www.benzinga.com/24/11/42157447/dow-settles-at-record-high-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone">close at a new record high</a> on Friday.
Donald Trump's Treasury Secretary pick, Scott Bessent, has been cheered by investors. The hedge fund manager<a href="https://www.benzinga.com/news/24/11/42158330/trumps-treasury-secretary-pick-scott-bessent-says-a-global-economic-reordering-is-on-the-way-argues-president-elects-policies-will-lead-to-an-economic-lollapalooza"> told the Wall Street Journal</a> in an interview that he will make Trump's first-term tax cuts permanent, while also eliminating taxes on tips, social security benefits, and overtime pay, fulfilling the President-elect's election promises.
Expectations of a further 25 basis point rate cut in December have fallen to just 56% now, down from 75% a month ago, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group's FedWatch tool.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.58%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.49%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.68%</td>
</tr>
<tr>
<td>R2K</td>
<td>1.12%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.54% to $598.72 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.64% to $509.01, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Cues From Last Week:
Major indices on Wall Street recorded gains last week, with the Dow gaining around 2% and the S&amp;P 500 adding around 1.7%. The tech-heavy Nasdaq also registered gains to close up by nearly 1.6%, despite volatility as investors digested Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings.
On the economic data front, the S&amp;P Global US Services PMI climbed to 57 in November versus 55 in the previous month, while manufacturing PMI increased to 48.8 in November from 48.5 in the previous month.
The University of Michigan consumer sentiment for the US fell to 71.8 in November versus a preliminary reading of 73.
Most sectors on the S&amp;P 500 closed on a positive note, with industrials, financials, and consumer discretionary stocks recording the biggest gains on Friday.
However, utilities and communication services stocks bucked the overall market trend, closing the session lower.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Week&#8217;s Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>1.64%</td>
<td>19,003.65</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>1.7%</td>
<td>5,969.34</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>2.18%</td>
<td>44,296.51</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>4.54%</td>
<td>2,406.67</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Wells Fargo analysts have expressed optimism about food inflation cooling down further over the coming weeks, but that it could be less noticeable now than it has been over the last two years.
"Few Americans may include a slower pace of food price growth on their list of things to be grateful for this year, but our team does expect consumer price inflation for food to continue to quiet down over time—just less noticeably than has been seen over the past two years," the analysts said in a recent note.
Ryan Detrick, chief market strategist at Carson Group, continued to remain bullish on equities.
"Various advance/decline lines show no major signs of deterioration. This continues to suggest the bull market is alive and well."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Great chart from <a href="https://twitter.com/HumbleStudent?ref_src=twsrc%5Etfw">@HumbleStudent</a> here. Various advance/decline lines show no major signs of deterioration. This continues to suggest the bull market is alive and well. Credit spreads will expand and this will weaken when the trend changes. We aren&#39;t there. <a href="https://t.co/CR0APJjCBz">pic.twitter.com/CR0APJjCBz</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1860724216695267673?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He added that investors who expect a correction after the S&amp;P 500 gained 20% for two years in a row do not have history on their side. In eight of the previous such instances, the S&amp;P 500 gained an average of 12.3% in the third year, according to data compiled by Detrick.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Up 20% two years in a row? Not saying the next year can&#39;t be red, but if this is why you are bearish, history isn&#39;t on your side. <a href="https://t.co/XXDMAszm8X">pic.twitter.com/XXDMAszm8X</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1860829081299800536?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Nathan Peterson, Director of Derivatives Analysis at the Schwab Center for Financial Research, laid <a href="https://www.schwab.com/learn/story/weekly-traders-outlook/">out</a> the thesis for market movements for the next week.
"Taking everything into consideration, bullish seasonality, bullish technicals, a strong fundamental backdrop and a friendly Fed leave me in the bullish camp for next week," Peterson said.
This week will have a shorter trading window due to Thanksgiving, which could mean lower volume but higher volatility.
"From a seasonality perspective, November is a bullish month for stocks and &#8216;Thanksgiving Week&#8217; tends to be an up week more often than not."
See Also:<a href="https://www.benzinga.com/money/how-to-trade-futures"> How To Trade Futures</a>
Upcoming Economic Data
This week's economic calendar is not as packed as last week's due to Thanksgiving.
<ul>
<li>On Tuesday, the S&amp;P Case-Shiller home price index for 20 cities will be released at 9 a.m. ET.</li>
<li>Data on consumer confidence and new home sales will be released at 10 a.m. ET.</li>
<li>The minutes of the Fed&#8217;s November FOMC meeting will be released at 2 p.m. ET.</li>
<li>On Wednesday, initial jobless claims, advanced durable goods orders, U.S. trade balance, retail and wholesale inventories, and the first revision of GDP will be released at 8:30 a.m. ET.</li>
<li>Chicago Business Barometer (PMI) will be released at 9:45 a.m. ET.</li>
<li>Nominal personal income and spending data will be released at 10 a.m. ET.</li>
<li>PCE index and pending home sales data will be released at 10 a.m. ET.</li>
</ul>
No major economic reports are scheduled for Monday, Thursday, and Friday this week.
Stocks In Focus:
<ul>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42159139/microstrategy-shares-rise-in-monday-pre-market-as-michael-saylor-reveals-mstr-generating-500m-daily-amid-bitcoins-surge">stock surged</a> by more than 5% in premarket trading on Monday as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) inched closer to the $100,000 mark.</li>
<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock was up nearly 7% in premarket trading after the company submitted a plan last week to be in compliance once again with the listing requirements to trade on the Nasdaq.</li>
<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) stock rose over 3.6% in premarket trading after the company was upgraded to "Outperform" by brokerage firm Wedbush.</li>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) stock gained 3% in premarket trading after Wedbush <a href="https://www.benzinga.com/news/global/24/11/42156160/palantir-price-target-raised-to-75-by-dan-ives-amid-288-ytd-surge-analyst-calls-2025-a-primetime-year-for-ai">upgraded its price target</a> for the company to $75 from $57.</li>
<li>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) stock surged 4% in premarket trading after analysts at Morgan Stanley increased the price target to $55 from $24.</li>
<li>Investors are awaiting earnings results from Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>), Agilent Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>), and Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) today.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell in the early New York session, declining 0.29% to hover around $71.03.
The 10-year Treasury note yield eased to 4.351%.
Major Asian markets ended mixed on Monday, while European markets edged up in early trading.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42028334/bitcoin-ethereum-dogecoin-slip-as-feds-hawkish-stance-tempers-rally-analyst-expects-btc-to-reach-100k-before-new-year">Bitcoin, Ethereum, Dogecoin Slip As Fed&#8217;s Hawkish Stance Tempers Rally: Analyst Expects BTC To Reach $100K Before New Year</a></li>
</ul>
Photo courtesy: Wikimedia

Equities

Futures

Economics

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Pre-Market Outlook

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Trading Ideas

$BTC

HOOD

MSTR

PLTR

SMCI

SNOW

US Stocks Likely To Open On A Positive Note As Trump's Treasury Secretary Pick Uplifts Investor Sentiment: Expert Says 'Bull Market Is Alive And Well'

Boston Scientific expects to complete the transaction in the first half of 2025, subject to closing conditions. The transaction is expected to have an immaterial impact on adjusted earnings per share in 2025 and is expected to be more dilutive on a GAAP basis due to acquisition-related net charges and amortization expense.&nbsp;
Intera Oncology Inc., a privately held medical device company that provides the Intera 3000 Hepatic Artery Infusion Pump and floxuridine – a chemotherapy drug – both of which are approved by the U.S. Food and Drug Administration. The Intera 3000 pump is used to administer hepatic artery infusion (HAI) therapy to treat tumors in the liver primarily caused by metastatic colorectal cancer.

Boston Scientific Enters Definitive Agreement To Acquire Privately Held Medical Device Company Intera Oncology; No Terms Disclosed

U-BX Technology Ltd. (the "Company" or "U-BX") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBXG#NASDAQ">UBXG</a>), a leading company providing value-added&nbsp;services using artificial intelligence-driven&nbsp;technology to businesses within the insurance industry, including insurance carriers and brokers, today announced that it has resolved to effect a reverse stock split of the Company's ordinary shares and has determined the ratio to be 1-for-16. At the Company's annual meeting of shareholders held on October 24, 2024, the Company's shareholders approved a reverse stock split and granted the Company's Board of Directors the authority to determine the exact split ratio and on November 2, 2024, the Company's Board of Directors determined the ratio to be 1-for-16. U-BX's ordinary shares will begin trading on an adjusted basis giving effect to the reverse stock split on November 27, 2024 under the existing ticker symbol "UBXG". The new CUSIP number of the Company's ordinary shares will be G9161K112.
When the reverse stock split is effective, every sixteen shares of the Company's ordinary shares issued and outstanding as of the effective date will be automatically combined into one ordinary share. This will reduce the number of outstanding ordinary shares of U-BX from 29.7 million to approximately 1.9 million. Concurrently with the reverse stock split, the Company amended its Memorandum of Association to proportionately reduce the number of authorized ordinary for issuance and change the par value of post-reverse stock split ordinary shares to $0.0016 per share.
No fractional shares will be issued in connection with the reverse stock split. Shareholders otherwise entitled to receive a fractional share as a result of the reverse stock split will receive one full share.
Additional information concerning the reverse stock split can be found in U-BX's notice of annual general meeting filed with the Securities and Exchange Commission on October 8, 2024.

Stock Split

UBXG

U-BX Announces 1-for-16 Reverse Stock Split Effective November 27, 2024

UBS analyst Timothy Arcuri initiates coverage on ARM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) with a Buy rating and announces Price Target of $160.

Price Target

Initiation

Analyst Ratings

UBS Initiates Coverage On ARM Holdings with Buy Rating, Announces Price Target of $160

BioLine Rx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLRX#NASDAQ">BLRX</a>) reported quarterly losses of $(0.00) per share which beat the analyst consensus estimate of $(0.05) by 98 percent. The company reported quarterly sales of $4.94 million which missed the analyst consensus estimate of $5.29 million by 6.57 percent.

BLRX

BioLine Rx Q3 2024 GAAP EPS $(0.00) Beats $(0.05) Estimate, Sales $4.94M Miss $5.29M Estimate

Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) ("Rocket Lab" or "the Company"), a global leader in launch services and space systems, has finalized a $23.9 million award from the U.S. Department of Commerce to increase its compound semiconductor manufacturing capability and capacity at the Company's Albuquerque, New Mexico facility. The semiconductors produced by Rocket Lab are used in space-grade solar cells and other optoelectronic products that are important components for national security and commercial applications.

Government

Regulations

RKLB

Rocket Lab Secures $23.9M Grant to Boost Semiconductor Production in New Mexico

HC Wainwright &amp; Co. analyst Yi Chen reiterates Lexaria Bioscience (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LEXX#NASDAQ">LEXX</a>) with a Buy and maintains $10 price target.

Reiteration

LEXX

HC Wainwright & Co. Reiterates Buy on Lexaria Bioscience, Maintains $10 Price Target

Freightos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRGO#NASDAQ">CRGO</a>) reported quarterly losses of $(0.04) per share which beat the analyst consensus estimate of $(0.16) by 75 percent. This is a 42.86 percent increase over losses of $(0.07) per share from the same period last year. The company reported quarterly sales of $6.18 million which beat the analyst consensus estimate of $5.95 million by 3.93 percent. This is a 21.11 percent increase over sales of $5.11 million the same period last year.

Earnings Beats

Freightos Q3 2024 Adj EPS $(0.04) Beats $(0.16) Estimate, Sales $6.18M Beat $5.95M Estimate

Telsey Advisory Group analyst Joseph Feldman downgrades Five Below (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) from Outperform to Market Perform and lowers the price target from $102 to $95.

Downgrades

FIVE

Telsey Advisory Group Downgrades Five Below to Market Perform, Lowers Price Target to $95

Summit Materials, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUM#NYSE">SUM</a>), ("Summit," "Summit Materials," "Summit Inc." or the "Company") a leading producer of aggregates and cement, today announced it has entered into a definitive agreement to be acquired by&nbsp;Quikrete Holdings, Inc. ("Quikrete") for $52.50 per share in cash, for a total enterprise value of approximately $11.5 billion, including debt. The transaction price represents an approximately 36% premium to Summit's unaffected 90-day volume weighted average price (VWAP)1 and an approximately 29% premium to Summit's unaffected share price2. The combination has been unanimously approved by the Summit and Quikrete Boards of Directors.
&nbsp;
The transaction combines Summit's leading aggregates, cement and ready-mix concrete businesses with Quikrete's leading concrete and cement-based products business to create a vertically integrated, North American, construction materials solutions provider with strong customer relationships and iconic products.
"We are pleased to have reached this agreement which will deliver significant, immediate and certain cash value to our shareholders," said Howard Lance, Chairman of Summit's Board of Directors. "In reaching this decision, our Board carefully considered a range of alternatives and determined that this transaction is the best way to maximize value for our shareholders."
"This combination, and the value it creates, is a testament to our stellar strategic and financial performance, agile operational and commercial execution, and to the strength and talent of our entire team who have delivered a 34.6% annualized return since we began to develop our Elevate strategy on September 1, 2020," said Anne Noonan, Summit Materials President and Chief Executive Officer. "We believe this transaction will create new and exciting opportunities for our employees and customers. In Quikrete, we have found a strong partner that shares our commitment to safety and innovation, and we are excited to join forces with their team."
"We are thrilled to welcome Summit into the Quikrete family," said Will Magill, Chief Executive Officer of Quikrete. "This acquisition represents a significant milestone in our journey to expand our capabilities and geographic presence. Summit is a recognized leader with a highly complementary portfolio of trusted aggregate, cement and ready-mix solutions. We look forward to working closely with the talented team at Summit to achieve our shared vision for the future."
Approvals and Timing The transaction is expected to close in the first half of 2025, subject to Summit shareholder approval, regulatory approvals and other customary closing conditions. Upon completion of the transaction, Summit will become a privately held subsidiary of Quikrete and its common stock will no longer be traded on the NYSE.
Summit's largest shareholder, Cementos Argos, has entered into an agreement pursuant to which it has committed to vote all of its shares of Summit's common stock in favor of the transaction.
Quikrete has obtained commitment letters for the financing necessary to complete the transaction, which is not subject to a financing condition.
For further information regarding the terms and conditions contained in the definitive transaction agreement, please see Summit's current report on Form 8-K, which will be filed with the U.S. Securities and Exchange Commission in connection with the transaction.

Summit Materials to Be Acquired by Quikrete in $11.5B Deal

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Every investment category must answer the big question, why? For undervalued <a href="https://investorplace.com/industries/healthcare/biotech/">biotech stocks</a>, it comes down to advantaging a supremely relevant sector without paying full price.



Of course, the broader healthcare ecosystem offers a compelling narrative for market participants. As the Covid-19 pandemic demonstrated, no matter how advanced we become as a society, a microscopic virus can impose devastation. In order to protect individuals and communities at large, enterprises need a way to address diseases: infectious, chronic, whatever the case may be.



Further, undervalued biotech stocks enjoy a massive canvas for value expansion. According to Grand View Research, the global biotech arena <a href="https://www.grandviewresearch.com/industry-analysis/biotechnology-market">could be worth $3.88 trillion by 2030</a>. If so, that would imply a compound annual growth rate (CAGR) of 13.96% from 2023.



Plus, let&rsquo;s consider the unfortunate rise of cancer and other serious diseases. It wouldn&rsquo;t be surprising in the least if the aforementioned projection was conservative. With that in mind, below are undervalued biotech stocks to consider.



<h2>Procaps (PROC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/biotech_bigpharma1600-300x169.png" alt="Light blue pills on white background. Pharmaceutical industry, medical treatment, presciption drugs concept. Digital 3D render., biotech stocks, big pharma. EVAX stock"><div>Source: Hernan E. Schmidt / Shutterstock.com</div></div>Based in Luxembourg, Procaps (NASDAQ:<a href="https://investorplace.com/stock-quotes/proc-stock-quote/">PROC</a>) develops, produces and markets pharmaceutical solutions. It formulates and manufactures <a href="https://finance.yahoo.com/quote/PROC/profile/">branded prescription drugs</a> in multiple therapeutic areas, such as feminine care, pain relief, skin care and digestive health, among other needs. It should be noted that since the start of the year, PROC lost more than 41% of its equity value. Still, for those who want to speculate on undervalued biotech stocks, PROC could be a high-risk, high-reward idea. Right now, shares trade hands at 0.65X trailing-year sales. For the drug manufacturing sector, the median <a href="https://www.gurufocus.com/stock/PROC/summary?search=proc">value stands at 2.08X</a>. More importantly, the market has already demonstrated that it will accept a higher valuation for the business.



Over the last four quarters, PROC stock traded at an <a href="https://finance.yahoo.com/quote/PROC/key-statistics/">average sales multiple of around 0.94X</a>. Theoretically, then, the biotech room can potentially grow into its prior valuation. Over the longer term, that&rsquo;s what Wall Street experts are anticipating.



For fiscal 2024, sales could rise 3.5% to reach $424.15 million. In the following year, the top line could bump up to $460.35 million.



<h2>MiMedx (MDXG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/medical-biotech-stocks1600-300x169.png" alt="Healthcare business graph data and growth, Medical examination and doctor analyzing medical report network connection on tablet screen. VANI stock"><div>Source: PopTika / Shutterstock.com</div></div>Headquartered in Marietta, Georgia, MiMedx (NASDAQ:<a href="https://investorplace.com/stock-quotes/mdxg-stock-quote/">MDXG</a>) develops and <a href="https://finance.yahoo.com/quote/MDXG/profile/">distributes placental tissue allografts</a> for various sectors of the healthcare ecosystem. Specifically, MiMedx processes human placental tissues through its proprietary process to produce allografts. This methodology carries the advantage of retaining the tissue&rsquo;s inherent biological properties and regulatory proteins.



MDXG stock is a speculative entity, losing about 12% of market value since the start of the year. Nevertheless, the red ink may be creating a discounted opportunity. Presently, MDXG trades at 3.21X trailing-year revenue. However, during the first quarter of this year, the multiple did pop up to 3.5X. On the surface, that might not seem like much of a discount.



Still, it&rsquo;s important to consider what experts are anticipating moving forward. For fiscal 2024, they&rsquo;re targeting revenue of $361.49 million. If so, that would represent a 12.4% lift from last year&rsquo;s print of $321.48 million. And fiscal 2025 could see the top line move up to $406.17 million, another 12.4% leap.



To be sure, MiMedx represents a higher-risk idea. Still, it qualifies as one of the undervalued biotech stocks to consider.



<h2>MEI Pharma (MEIP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/biotechnology1600-300x169.png" alt="Biotechnology stocks, biomedical stocks"><div>Source: aslysun / Shutterstock.com</div></div>Operating out of San Diego, California, MEI Pharma (NASDAQ:<a href="https://investorplace.com/stock-quotes/meip-stock-quote/">MEIP</a>) is a small outfit, featuring only 46 full-time employees. It&rsquo;s a clinical-stage pharmaceutical firm, focusing on the development and commercialization of various therapies for the treatment of cancer. The company has developed a <a href="https://finance.yahoo.com/quote/MEIP/profile/">therapeutic called Zandelisib</a>, which addresses relapsed and refractory follicular lymphoma.



Another high-risk entity, MEIP stock dropped almost 52% of equity value since the start of the year. However, it also appears that the volatility has slowed down. In the trailing month, shares only slipped about 0.3%. Further, the sales multiple seems attractive at only 0.29X. In the past year (Q1 2023 to Q1 2024), the multiple averaged about 0.59X.



It&rsquo;s also worth pointing out that MEIP trades at a trailing-year earnings multiple of 0.74X. Moving forward to the end of the year, analysts anticipate earnings per share to reach $3.62. On the top line, sales may enjoy a 33.8% lift to $65.3 million. Assuming these projections hold true, MEIP could easily grow into its valuation on earnings and sales. Thus, it&rsquo;s one of the undervalued biotech stocks to consider.



<h2>Incyte (INCY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/incy-stock-1-300x169.jpg" alt="incy stock"><div>Source: Eyesonmilan / Shutterstock.com</div></div>Based in Wilmington, Delaware, Incyte (NASDAQ:<a href="https://investorplace.com/stock-quotes/incy-stock-quote/">INCY</a>) is a biopharmaceutical firm engaged in the discovery, development and commercialization of therapeutics for hematology and oncology. It also specializes in conditions revolving around inflammation and autoimmunity. It&rsquo;s a sizable player compared to the speculative plays among undervalued biotech stocks, with more than 2,500 full-time employees.



Financially, Incyte is a solid entity. During the trailing 12 months (TTM), Incyte posted net income of $745.44 million or earnings of $3.30 per share. Revenue reached $3.77 billion. Still, INCY stock trades at 3.64X trailing-year sales. Over the past year, this stat averaged 3.98X.



On the bottom line, the market prices INCY at 13.16X forward earnings. In the past year, the average multiple clocked in at 14.61X. But here&rsquo;s the kicker: analysts anticipate sizable expansion of the top and bottom lines.



Fiscal 2024 could see EPS at $4.30, up 22.16% over the prior year. Revenue could jump 10.6% to reach $4.09 billion. Therefore, it&rsquo;s one of the undervalued biotech stocks to put on your radar.



<h2>United Therapeutics (UTHR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/uthr_unitedtheraputics1600-300x169.png" alt="In this photo illustration United Therapeutics Corporation (UTHR) logo is seen on a mobile phone screen."><div>Source: viewimage / Shutterstock.com</div></div>Headquartered in Silver Spring, Maryland, United Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/uthr-stock-quote/">UTHR</a>) engages in the development and commercialization of products to address unmet medical needs, particularly for patients suffering from chronic and life-threatening diseases. It offers multiple products, including <a href="https://finance.yahoo.com/quote/UTHR/profile/">Tyvaso DPI</a>, which is an inhaled dry powder for the treatment of pulmonary arterial hypertension (PAH).



Financially, United represents another solid idea among undervalued biotech stocks. Net income during the TTM period landed at $1.05 billion or $21.13 per share. Revenue in the cycle reached $2.5 billion. Currently, the market prices UTHR stock at 6.34X trailing-year sales, which admittedly is at a premium.



However, analysts believe that in fiscal 2024, sales could hit $2.74 billion, up 17.8% from the prior year&rsquo;s tally of $2.33 billion. Assuming a shares outstanding count of $44.37 million, UTHR would trade at a projected sales multiple of around 5.16X.



Now, the average multiple over the past year came in at 5.24X. So, ever so slightly, UTHR ranks among the undervalued biotech stocks. Plus, the benefit here is that you&rsquo;re dealing with a profitable and growing enterprise.



<h2>Harmony Biosciences (HRMY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/shutterstock_1726134715-300x169.png" alt="Biochemical/biotech research scientist team working with microscope"><div>Source: Mongkolchon Akesin / Shutterstock.com</div></div>Operating out of Plymouth Meeting, Pennsylvania, Harmony Biosciences (NASDAQ:<a href="https://investorplace.com/stock-quotes/hrmy-stock-quote/">HRMY</a>) is a commercial-stage pharmaceutical firm focusing on the development and commercialization of therapies for patients with rare and neurological diseases. Its <a href="https://finance.yahoo.com/quote/HRMY/profile/">main product is WAKIX</a>, a molecule with a novel mechanism for the treatment of excessive daytime sleepiness in adults with narcolepsy.



For a relatively small enterprise, Harmony offers robust financials. During the TTM period, the company posted net income of $137.7 million or earnings of $2.32 per share. On the top line, sales in the period reached $617.51 million. In the most recent quarter, HRMY&rsquo;s quarterly sales growth rate (year-over-year0 landed at 29.8%.



Right now, HRMY stock trades at 2.91X trailing-year sales. In the past one-year period, the average multiple stood at 4.05X. Even better, covering experts see Harmony&rsquo;s revenue rising by 22% to $710.15 million. Further, the high-side target runs up to $718.4 million.



For fiscal 2025, the consensus view calls for $836.82 million, up 17.8%. As a bonus, EPS in fiscal 2025 may also soar nearly 75% to $3.90. It&rsquo;s one of the undervalued biotech stocks to consider.



<h2>ScyNexis (SCYX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/droplet-test-tube-biotech-1600-3-300x169.jpg" alt="Photo of test tubes and droplet with purple and reddish-orange sunset visual effect, representing biotech"><div>Source: shutterstock.com/Romix Image</div></div>Based in Jersey City, New Jersey, ScyNexis (NASDAQ:<a href="https://investorplace.com/stock-quotes/scyx-stock-quote/">SCYX</a>) falls under the drug manufacturing ecosystem. <a href="https://finance.yahoo.com/quote/SCYX/profile/">Per its public profile</a>, ScyNexis develops medicines to overcome and prevent difficult-to-treat and drug-resistant infections. One of its main products is Brexafemme for the treatment of patients with certain feminine conditions. It also offers other treatments for important but sensitive conditions.



SCYX stock is a difficult entity to bet on. Since the start of the year, it lost about 10% of market value. Over the past 52 weeks, it&rsquo;s down about 34%. At the same time, it also offers some financial substance. During the TTM period, the company posted net income of $101.33 million or $2.11 per share. Revenue landed at $140.38 million. Its latest quarterly sales growth rate clocked in at 21.5%.



That said, analysts anticipate an 82% erosion in the top line for fiscal 2024 to $25.1 million. Last year, the company generated sales of $140.14 million. Obviously, that&rsquo;s not a great look, leading to a trailing-year sales multiple of 0.69X. In the past year, this stat averaged 10.41X.



However, in fiscal 2025, a gradual recovery trek may materialize, resulting in sales of $44.07 million. Further, the high-side target calls for $116.25 million, making SCYX potentially one of the undervalued biotech stocks.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/7-undervalued-biotech-stocks-to-buy-for-big-time-returns/">7 Undervalued Biotech Stocks to Buy for Big-Time Returns</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Undervalued Biotech Stocks to Buy for Big-Time Returns

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