Latest news for Codan (OTC:CODAF) Stock

Codan Ltd develops electronics solutions for government, corporate, non-governmental organizations (NGO) and consumer markets across the globe. It operates through the following business segments: The communications segment includes the design, development, manufacture and marketing of communications equipment. The Metal detection segment includes the design, development, manufacture and marketing of metal detection equipment; The tracking solutions segment includes the design, manufacture, maintenance and support of a range of electronic products. The firm generates the majority of revenue from the Communications segment.

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Stocks That Hit 52-Week Highs On Wednesday

Codan Ltd

Oppenheimer analyst Edward Yang initiates coverage on Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) with a Underperform rating and announces Price Target of $225.

Price Target

Initiation

Analyst Ratings

CDNS

Oppenheimer Initiates Coverage On Cadence Design Sys with Underperform Rating, Announces Price Target of $225

ACST

Acasti Pharma Announced That Patient Enrollment Has Been Completed In The Company's Phase 3 Strive-on Safety Trial (The STRIVE-ON trial–NCT05995405)

On-chain data provider Arkham Intelligence flagged movements of early Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/topic/whales#:~:text=Whales%20are%20major%20players%20in,prices%20to%20buy%20the%20token.">whales, who remained</a> dormant for years.
What Happened: The data firm shows a Bitcoin whale who had been inactive for almost a decade and holds bitcoin worth $77 million, mined in the initial two months of the network&#8217;s existence transferring 5 BTC to Kraken. The whale continues to <a href="https://x.com/ArkhamIntel/status/1838543209577730499">hold</a> 1,215 BTC in his address.
The Bitcoin was mined back in February and March 2009, just a month after Bitcoin's launch. After several movements between 2011-2014, Bitcoin was held dormant for nearly 10 years, during which its value surged from $474,000 to over $80 million.
This whale became active approximately three weeks ago and has so far moved 10 BTC to Kraken in three separate transactions. This activity comes shortly after another early Bitcoin whale, who mined his Bitcoin around the same time, woke up after 15 years of dormancy to move 250 BTC, worth $15.95 million. The Bitcoin was <a href="https://x.com/ArkhamIntel/status/1837186048935264710">moved</a> from five addresses that were active in January 2009, the first month of its existence.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41012444/crypto-expert-tells-anthony-scaramucci-that-gold-and-bitcoin-are-safeguards-against-curren">Crypto Expert Tells Anthony Scaramucci That Gold And Bitcoin Are Safeguards Against Currency Debasement</a>
Why It Matters: There is no explanation to the sudden movement among Bitcoin whale wallets, adding to the intrigue and speculation surrounding these early investors.
One reason for such movements could be the expected potential bullish momentum for Bitcoin. Trader Crypto Vikings predicts bullish momentum for the next few months, with a target of $90,000 before the end of 2024.
For the short term, the trader expects a revisit of major trendline support, which would be the $62,000 level. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Update I am bullish for next few months and believe we could reach 90k$ per bitcoin before end of this year. Short term, we could revisit major trendline support at worst case which would be the 62k$ level else we may directly go up from here too so position accordingly. <a href="https://t.co/cnfKd4NcjL">pic.twitter.com/cnfKd4NcjL</a>
&mdash; Crypto Vikings (@CryptoVikings07) <a href="https://twitter.com/CryptoVikings07/status/1838850722408075471?ref_src=twsrc%5Etfw">September 25, 2024</a></blockquote>
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What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41005694/bitcoin-is-gold-with-a-leverage-says-expert-who-sees-us-government-in-big-trouble-over-deb">Bitcoin Is &#8216;Gold With A Leverage,&#8217; Says Expert Who Sees US Government In Big Trouble Over Debt Burden</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

Long Dormant Bitcoin Whales Are Waking Up: What Is Going On?

IFRX

InflaRx Announced The E-poster Presentation Of A Post Hoc Analysis Of The Shine Phase 2b Study Of Its First-in-class Anti-c5a Antibody, Vilobelimab, In Hidradenitis Suppurativa At The 2024 European Academy Of Dermatology And Venereology Congress

23andMe Holding Co Released A New Report On The Genetics Of Emotional Eating For 23andMe+ Premium Members, Informing Them If They Are At A Higher Likelihood Of Frequent Emotional Eating

Contracts

The Brink's Company Announced A Long-term ATM Managed Services Agreement With Sainsbury's

Loop Capital analyst Mark Schappel maintains Monday.Com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) with a Buy and raises the price target from $285 to $310.

MNDY

Loop Capital Maintains Buy on Monday.Com, Raises Price Target to $310

TD Cowen analyst Bryan Bergin maintains Global Payments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) with a Buy and lowers the price target from $125 to $122.

TD Cowen Maintains Buy on Global Payments, Lowers Price Target to $122

As the<a href="https://www.benzinga.com/news/24/08/40649198/housing-market-in-biggest-bubble-of-all-time-warns-reventure-ceo-this-situation-is-not-sustainable"> housing market</a> becomes pricier and fewer people can afford to buy homes, an unexpected solution is spreading across the U.S. – built-to-rent communities. These developments, filled with single-family homes designed exclusively for renters, are becoming an appealing option for those who want a house but can't manage the steep cost of ownership right now.
Richard Belote, a Texas resident who rents a home 90 minutes outside Houston, feels renting is a temporary but necessary compromise. "It's a good steppingstone," he says, noting that sky-high interest rates have made buying impossible for now.
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"Just really kind of crossing our fingers that those rates go down," he adds, hoping he and his fiancee can someday jump back into the homebuying market.
Belote is far from alone. A recent CNN poll revealed that 86% of renters nationwide say they simply can't afford to buy a home. Even more striking, 54% believe they might never own one. Still, despite the doom and gloom, a separate poll found that 81% of renters hope to own their own home someday.
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
The desire for homeownership is still alive, but affordability is the elephant in the room. "House prices have increased by over 40% in just four years," explained CBS News business analyst Jill Schlesinger. "There are a lot of people out there who really, really want to be in homes, and they just can't afford to get there."
This growing problem has paved the way for built-to-rent communities, which first sprouted in Phoenix during the Great Recession. These developments feature smaller, cottage-sized homes designed with higher density. They're now popping up in cities across the Sunbelt, from Phoenix to Atlanta to Dallas, as more people seek alternatives to the traditional housing market.
See Also: Amid the ongoing EV revolution, previously overlooked low-income communities<a href="https://www.benzinga.com/money/dunamis-1"> now harbor a huge investment opportunity at just $500.</a>
Brent Long, who leads the build-to-rent expansion for Christopher Todd Communities in Arizona, explains that their tenants come from all walks of life, from Gen Z to Baby Boomers. "It's really renters by choice and renters by need," he says.
Long doesn't believe the concept detracts from the classic American dream of owning a <a href="https://www.benzinga.com/real-estate/24/09/40852916/the-best-week-to-buy-a-home-in-2024-is-almost-here-save-as-much-as-14-000">home</a>. "I think it solves some issues that are out there in terms of affordability and availability."
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
One such renter is Cassie Wilson, who lives in Phoenix by choice. For her, the arrangement is perfect. "I can live here in a house that is fully kept up by someone else," she says. While she hopes to buy a house one day, she admits, "I still want to travel." Renting gives her the freedom to do both.
Though growing fast, built-to-rent communities only made up 7.9% of new housing construction last year, according to Arbor Realty Trust. Some housing advocates in Arizona have warned that while these communities help, they won't be enough to lower home prices significantly. Still, many welcome any solution that helps chip away at the ongoing housing crisis.
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<li>This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> here's how you can join for $10.</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?</li>
</ul>

Real Estate

A Surprising Housing Trend Is Sweeping the U.S. – Why Built-To-Rent Communities Are About To Redefine The Market

Worthington Enterprises, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) shares are trading lower at a premarket on Wednesday after the company reported worse-than-<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g41014521/worthington-enterprises-reports-first-quarter-fiscal-2025-results" rel="noreferrer noopener">expected&nbsp;first-quarter financial results</a>.
On Tuesday, the company reported a&nbsp;net sales decline of 17.5% Y/Y to &nbsp;$257.3 million, missing the consensus of $300.26 million.
The decline was attributed to the deconsolidation of the former Sustainable Energy Solutions (SES) segment in the fourth quarter of FY24 and lower volumes in the Building Products segment.
Adjusted EBITDA from continuing operations fell to $48.4 million from $65.9 million a year ago quarter. Adjusted EPS&nbsp;of $0.50&nbsp;missed <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the consensus of&nbsp;$0.74</a>.
By segment, Consumer Products&#8217; net sales stood at $117.6 million in the quarter, with adjusted EBITDA coming in at $17.8 million. Meanwhile, Building Products generated net sales of $139.7 million, down 15.8% Y/Y, in the quarter.
As of May 31, 2024, debt remained steady at $300 million and cash stood at $178.5 million.
Dividend: The Board of Directors declared a quarterly dividend of $0.17 per common share, payable on December 27, 2024, to shareholders of record as of December 13, 2024.
In the quarter, the company repurchased 150,000 common shares for $6.8 million, averaging $45.35 per share.
Worthington Enterprises President and CEO Andy Rose stated, &#8220;Consumer Products had a solid quarter delivering year over year earnings growth despite flat volumes. Building Products earnings were down on weak volumes in our heating and cooking business, combined with lower contributions from ClarkDietrich, which continued to face some margin compression.&#8221;
&#8220;We have a positive long-term outlook especially with the recent recalibration of interest rates. Our market-leading products and brands are well-positioned to take advantage of long-term secular trends and should benefit when near-term headwinds subside and demand normalizes,&#8221; Rose&nbsp;added.
Price Action: WOR shares are down 5.03% at $43.01 premarket at the last check on Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/09/40998340/nasdaq-s-p-500-futures-firm-chinas-economic-stimulus-fuels-commodities-bitcoin-steady-heres-what-tr" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Firm, China&#8217;s Economic Stimulus Fuels Commodities, Bitcoin Steady: Here&#8217;s What Traders Should Be Watching Tuesday</a></li>
</ul>

Earnings

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Why Is Worthington Enterprises Stock Diving Premarket On Wednesday?

Cryptocurrency trader and analyst Michaёl van de Poppe shared insights about his high-risk, all-altcoin portfolio strategy for <a href="https://www.benzinga.com/money/bitcoin-price-prediction">the current market cycle</a>.
What Happened: Van de Poppe believes the coming period will be favorable for altcoins, citing increased global liquidity from China and potentially the U.S. He expects Bitcoin (CRYPTO": BTC) to reach $90,000-$100,000 in the final months of the year, which he thinks will boost confidence in altcoins.
His portfolio <a href="https://www.youtube.com/watch?v=cXhe_aSnsk8">consists</a> of four larger altcoins and four smaller, higher-risk tokens. The larger holdings are an Ethereum layer-2 solution Optimism (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">OP</a>), Celestia (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TIA</a>), a Modular blockchain infrastructure, AI-focused blockchain, Bittensor (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TAO</a>) and, Ethereum Name Service (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENS</a>), the Domain name service for Ethereum.
Meanwhile, the smaller holdings are a liquid staking protocol Renzo (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ren/usd">REN</a>), Omni Protocol (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">OMNI</a>), one more liquid staking solution, decentralized Ethereum staking, Rocket Pool (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">RPL</a>), and a decentralized exchange Dydx (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">DYDX</a>).
Van de Poppe emphasizes the high-risk nature of his strategy, stating, "I wouldn&#8217;t advise doing that but in my portfolio, I've got four large altcoins and four smaller altcoins." He plans to actively swing trade these positions, aiming for 100-500% gains before taking profits.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40926060/bitcoin-is-in-for-a-massive-bull-run-if-this-2020-pattern-repeats-analyst-says">Bitcoin Is In For A &#8216;Massive Bull Run&#8217; If This 2020 Pattern Repeats, Analyst Says</a>
Why It Matters: Regarding market predictions, he&#8217;s optimistic: "My prediction for the upcoming years for the cryptocurrency markets is that we&#8217;re going to the Moon."
He expects his portfolio could potentially achieve a 10x return in the next six months, though he plans to rotate into newer coins and more risk-averse assets as the cycle progresses.
While Van de Poppe&#8217;s all-in altcoin approach is extremely risky, his insights offer a glimpse into how some experienced traders are positioning themselves for what they believe could be a significant bull run in the crypto markets.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40986393/these-42-cryptos-have-outperformed-bitcoin-in-2024-no-doge-no-shib-but-8-meme-coins-among-">These 42 Cryptos Have Outperformed Bitcoin In 2024: No DOGE, No SHIB, But 8 Meme Coins Among Them</a></li>
</ul>
Image: Shutterstock

$DYDX

$ENS

$ETH

$OMNI

$REN

$RPL

$TAO

$TIA

Veteran Trader Michael Van De Poppe Shares His Altcoin Portfolio, Predicts It Could 10X In 6 Months

Baird analyst Colin Sebastian maintains Corsair Gaming (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRSR#NASDAQ">CRSR</a>) with a Neutral and lowers the price target from $10 to $8.

CRSR

Baird Maintains Neutral on Corsair Gaming, Lowers Price Target to $8

Keybanc analyst Alex Markgraff maintains Global Payments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) with a Overweight and lowers the price target from $145 to $135.

Keybanc Maintains Overweight on Global Payments, Lowers Price Target to $135

In October 2023, Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) announced its plans to spin off its consumer healthcare business as the French pharmaceutical company outlined its strategic update to increase investment in its drug-development <a target="_blank" href="https://www.benzinga.com/general/biotech/23/10/35458838/sanofi-goes-the-rival-way-plans-separation-of-consumer-healthcare-unit" rel="noreferrer noopener">pipeline and cut costs</a>.
Sanofi said the spinoff would allow it to increase its focus on innovative medicines and vaccines.
Sanofi&#8217;s consumer health unit boasts a portfolio that includes popular over-the-counter products like Phytoxil cough syrups, Icy Hot pain relief gels, and Dulcolax laxative tablets.&nbsp;
According to a Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-24/sanofi-said-to-get-binding-bids-from-cd-r-pai-for-consumer-arm?srnd=prognosis&amp;embedded-checkout=true" rel="noreferrer noopener">report</a>, two private equity firms, Clayton Dubilier &amp; Rice and PAI Partners, made separate bids for Sanofi&#8217;s consumer health division.
The update pushes the European pharma giant closer to one of the largest European deals this year, which could value the unit at 15 billion euros ($16.8 billion) or more, the Bloomberg report added.
The separation is expected to occur by Q4 2024 by creating a publicly listed entity headquartered in France.
In July, Goldman Sachs Group Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) and&nbsp;Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) said they were preparing to arrange more than $6.5 billion (6 billion euros) in debt financing for potential buyers interested in acquiring&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/07/39755459/sanofis-20b-consumer-health-unit-sale-goldman-sachs-morgan-stanley-line-up-6-5b-financing" rel="noreferrer noopener">Sanofi&#8217;s&nbsp;consumer health division</a>.
The move highlighted banks&#8217; interest in supporting leveraged buyouts through pre-arranged financing.
Sanofi may opt for a spinoff of its consumer health business if the offers aren&#8217;t appealing, Bloomberg noted, citing sources. A company spokesperson told Bloomberg that Sanofi is evaluating potential separation options, with the earliest possible transaction happening in the fourth quarter of this year, and noted that preparations are progressing as planned.
In November 2023, Sanofi reportedly initiated talks with Rothschild &amp; Co. to explore the possibility of spinning off its consumer health division, which could potentially value the business <a target="_blank" href="https://www.benzinga.com/markets/equities/23/11/35823034/major-buyout-firms-eye-sanofis-consumer-health-division-spinoff-valued-over-20b" rel="noreferrer noopener">at over $20 billion</a>.&nbsp;
Rival pharma giants&nbsp;GSK Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>)&nbsp;and&nbsp;Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) split their consumer healthcare units&nbsp;Haleon Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLN#NYSE">HLN</a>) and Kenvue Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>), respectively.
Price Action: SNY stock closed at $57.62&nbsp;on Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/health-care/24/09/41012667/healthcare-software-giant-epic-systems-hit-with-lawsuit-over-alleged-monopolistic-practices" target="_blank" rel="noreferrer noopener">Healthcare Software Giant Epic Systems Hit With Lawsuit Over Alleged Monopolistic Practices</a>.</li>
</ul>
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Biotech

Large Cap

Health Care

Rumors

Media

KVUE

Private Equity Firms Circle Sanofi's Consumer Health Business Amid Potential Spinoff

Accenture plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) will release earnings results for its fourth quarter, before the <a href="https://www.benzinga.com/quote/ACN/earnings">opening bell on Thursday, Sept. 26</a>.
Analysts expect the Dublin, Ireland-based company to report quarterly earnings at $2.78 per share, up from $2.71 per share in the year-ago period. Accenture projects to report revenue of $16.38 billion for the quarter, compared to $15.99 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Sept. 16, Accenture Federal Services won a $190M million U.S. Department of State Data and Systems Engineering contract.
Accenture shares gained 0.1% to close at $339.62 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TJX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58f777c10bd99100018a435e/tien-tsin-huang">JP Morgan analyst Tien-Tsin Huang</a> maintained an Overweight rating and cut the price target from $376 to $370 on Sept. 24. This analyst has an accuracy rate of 61%.</li>
<li>Mizuho analyst Dan Doelev maintained an Outperform rating and boosted the price target from $352 to $365 on Sept. 18. This analyst has an accuracy rate of 63%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/591ed97e290fa70001e6c69f/ashwin-shirvaikar">Citigroup analyst Ashwin Shirvaikar</a> maintained a Buy rating and raised the price target from $350 to $405 on Sept. 17. This analyst has an accuracy rate of 72%.</li>
<li>TD Cowen analyst Bryan Bergin maintained a Hold rating and raised the price target from $293 to $321 on Sept. 12. This analyst has an accuracy rate of 62%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5845b510ee7bf6000154d079/james-faucette">Morgan Stanley analyst James Faucette</a> downgraded the stock from Overweight to Equal-Weight rating and slashed the price target from $382 to $300 on June 26. This analyst has an accuracy rate of 65%.</li>
</ul>
Considering buying ACN stock? Here&#8217;s what analysts think: 
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<li>ORKA-001 has an NHP half-life of 30.3 days following SQ administration and 33.8 days following IV administration, over three times longer than risankizumab and one of the longest NHP half-lives observed for an extended half-life antibody. Projections of ORKA-001 pharmacokinetics (PK) in humans indicate that a human half-life of approximately 50 days could enable dosing once every six months, while a human half-life of approximately 75 days could enable once-yearly dosing. The NHP half-life observed for ORKA-001 supports the potential to achieve these extended dosing intervals given that other YTE-modified antibodies have had an approximately two to four times longer half-life in humans than in NHPs. In addition, the extended half-life of ORKA-001 could result in higher antibody exposures than risankizumab, which could lead to greater efficacy. &nbsp;</li>
<li>ORKA-001 binds to a similar epitope with similar affinity to risankizumab and shows equivalent potency across a variety of in vitro assays. ORKA-001 binds IL-23p19 with an affinity below five picomolar. Based on cryo-EM structural analysis, ORKA-001 binds to a nearly identical epitope to risankizumab. When assessed across four different assays in cell lines and primary cells, ORKA-001 also had comparable functional potency for IL-23 antagonism. These findings support that ORKA-001 has a validated mechanism of action and further derisk its development path.</li>
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ORKA

Oruka Therapeutics Announced New Preclinical Data On ORKA-001, A Novel Extended Half-life Monoclonal Antibody Targeting IL-23p19, At The European Academy Of Dermatology And Venereology Congress

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JMP Securities analyst Aaron Hecht maintains Lennar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>) with a Market Outperform and raises the price target from $170 to $210.

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ABBV

AbbVie Announced Results From A New Post-Hoc Analysis From The Measure Up 1 And Measure Up 2 Phase 3 Studies Of Upadacitinib (15 mg Or 30 mg) In Patients With Moderate-to-severe Atopic Dermatitis

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=18266891&amp;u=https%3A%2F%2Fwww.iridium.com%2F&amp;a=Iridium+Communications+Inc.">Iridium Communications Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>), a leading provider of global voice and data satellite communications, today announced that the 3rd Generation Partnership Project (<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=3188554480&amp;u=https%3A%2F%2Fwww.3gpp.org%2F&amp;a=3GPP">3GPP</a>) accepted Iridium's request to extend the functionality of Narrowband Internet of Things (NB-IoT) for Non-Terrestrial Networks (NTN) into the Work Plan for 3GPP Release 19 as an official Work Item. This will pave the way for Iridium's satellite service to be accessible via industry standard chipsets, furthering the company's progress in developing and deploying its newest service, Iridium NTN Direct℠, over the <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=2436757427&amp;u=https%3A%2F%2Fwww.iridium.com%2Fnetwork%2F&amp;a=Iridium%C2%AE+Network">Iridium&#xAE; Network</a>. Born from the company's Project Stardust initiative, the Iridium NTN Direct service being announced today is expected to be the world's first truly global&nbsp;5G NB-IoT service. <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=945366429&amp;u=https%3A%2F%2Fwww.3gpp.org%2Fspecifications-technologies%2Freleases%2Frelease-19&amp;a=3GPP+Release+19">3GPP Release 19</a>&nbsp;is currently scheduled to be completed in the fourth quarter of 2025.
&nbsp;
In January 2024, Iridium announced <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=3667490169&amp;u=https%3A%2F%2Finvestor.iridium.com%2F2024-01-10-Iridium-Unveils-Project-Stardust-Developing-the-Only-Truly-Global%2C-Standards-Based-IoT-and-Direct-to-Device-Service&amp;a=Project+Stardust">Project Stardust</a> to enable NB-IoT NTN standards-based communication through its operational LEO constellation – and has since made considerable progress at a rapid pace. Iridium NTN Direct technical development is well underway, with a successful demonstration having taken place earlier this year in a lab environment. Iridium has also joined <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=36862901&amp;u=https%3A%2F%2Fwww.gsma.com%2F&amp;a=GSMA%2C">GSMA,</a> and is continuing to advance development with additional trials and demonstrations scheduled for early next year.
"We're already well into our technology development, and we're excited about our progress and to see so much enthusiasm from the 3GPP community," said Greg Pelton, CTO, Iridium. "As a cloud-based service powered by the flexibility of our software-defined satellites and building upon recognized industry standards, we've been able to jump off to a super-fast start. Our team is really motivated to make this happen."
Iridium NTN Direct will offer the opportunity for smartphone companies, OEMs, chipmakers, mobile network operators (MNO) and related IoT developers who utilize 3GPP standards-based technology to leverage Iridium's existing network and globally allocated and coordinated spectrum, providing a global, low-latency LEO user experience.
"When it comes to providing D2D, we don't have to be first, but we have to be the best. Iridium NTN Direct is an important initiative for us, and we've been able to pivot on an unprecedented scale and make significant progress toward providing the best service," said&nbsp;Matt Desch, CEO, Iridium. "We're grateful for the wide industry support of our vision to expand access to Iridium's global lifeline service by enabling it for anyone with a cellular device."
The Iridium satellite constellation's crosslinked, LEO architecture and global L-band spectrum provide a service advantage versus other LEO and geostationary satellite networks. Certified to provide safety of life services by international regulatory bodies, the Iridium network is known for its reliability and continues to be the only network that provides connectivity everywhere on Earth. Operating in LEO, the Iridium constellation does not suffer from the same line-of-sight limitations, significant power requirements or outages that can affect entire regions from a single satellite as faced by geostationary systems.

IRDM

Iridium's Satellite Service Gains Momentum for 2025 Global 5G NB-IoT Expansion

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Codan

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