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Thursday,&nbsp;AbbVie&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NASDAQ">ABBV</a>) released topline results from LEVEL UP, an open-label, efficacy assessor-blinded head-to-head Phase&nbsp;3b/4&nbsp;study of upadacitinib (Rinvoq, 15 mg once daily starting dose and dose-adjusted based on clinical response) versus dupilumab (Dupixent, per its labeled dose)&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38428188/new-data-show-rinvoq-upadacitinib-demonstrated-superiority-versus-dupixent-dupilumab-across-primar" rel="noreferrer noopener">for atopic dermatitis</a>.
AbbVie said the study is the first head-to-head trial in atopic dermatitis assessing upadacitinib at a starting&nbsp;dose of 15 mg daily versus dupilumab at its labeled dose.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38300021/is-your-botox-real-or-fake-counterfeit-boxes-circulate-for-widely-used-antiwrinkle-treatment-cdc-" rel="noreferrer noopener">Is Your Botox Real Or Fake? Counterfeit Boxes Circulate For Widely Used Antiwrinkle Treatment, CDC And FDA Investigate Harmful Reactions</a>.
The study enrolled adults and adolescents with moderate-to-severe atopic dermatitis (AD) who had an inadequate response to systemic therapy or when the use of those therapies was inadvisable.
Dupixent is the flagship drug of&nbsp;Sanofi SA&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) and&nbsp;Regeneron&nbsp;Pharmaceutical Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>).
In the study,&nbsp;upadacitinib showed superior efficacy versus dupilumab in the primary endpoint, demonstrating that a significantly higher proportion of patients simultaneously achieved both a 90% or&nbsp;greater&nbsp;reduction in Eczema Area and Severity Index (EASI 90) and a Worst Pruritus Numerical Rating Scale of 0 or 1 (WP-NRS 0/1) at Week 16.
<ul>
<li>Rinvoq helped 19.9% of patients achieve 90% skin clearance with a no-to-little itch, compared with 8.9% of patients treated with Dupixent.</li>
<li>The EASI is a clinically validated measure used to assess the severity and extent of atopic dermatitis.&nbsp;</li>
<li>WP-NRS is an assessment tool that patients use to report the intensity of their pruritus daily (with 0 being &#8216;no itch&#8217; and 10 being the &#8216;worst imaginable itch&#8217;).</li>
</ul>
Upadacitinib also showed superiority over dupilumab for all ranked secondary endpoints, including the rapid onset of nearly complete skin clearance and little to little itch.&nbsp;
For the first two ranked secondary endpoints, the study showed that&nbsp;a significantly higher proportion of patients treated with upadacitinib:
<ul>
<li>Achieved EASI 90 at Week 16 (40.8% vs 22.5%).</li>
<li>Achieved a WP-NRS of 0/1 at Week 16 (30.2% vs 15.5%).</li>
</ul>
Price Action: ABBV shares were down 0.15% at $167.54 at the last check Thursday.
Now Read: <a href="https://www.benzinga.com/markets/equities/24/04/38436183/magnificent-7-tumble-wipe-out-300-billion-on-metas-weak-guidance-q1-stagflation-woes">Magnificent 7 Tumble, Wipe Out $300 Billion On Meta&#8217;s Weak Guidance, Q1 Stagflation Woes</a>
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ABBV

REGN

AbbVie's Dermatitis Drug Shown 'Superior' To Sanofi/Regeneron's Dupixent In Head-To-Head Study

JP Morgan analyst Samik Chatterjee maintains TE Connectivity (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEL#NYSE">TEL</a>) with a Neutral and lowers the price target from $170 to $169.

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on TE Connectivity, Lowers Price Target to $169

TD Cowen analyst Hoang Nguyen maintains PROG Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRG#NYSE">PRG</a>) with a Buy and raises the price target from $38 to $40.

TD Cowen Maintains Buy on PROG Holdings, Raises Price Target to $40

Lam Research Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) reported <a href="https://www.benzinga.com/news/earnings/24/04/38416352/lam-research-reports-better-than-expected-q3-results">better-than-expected results for its fiscal third quarter</a>.
Here are some key analyst takeaways from the results, which came amid an <a href="https://www.benzinga.com/calendars/earnings">exciting earnings season</a>. 
<ul>
<li>Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating, while raising the price target from $935 to $960.</li>
<li>Raymond James analyst Srini Pajjuri maintained an Outperform rating and price target of $960.</li>
<li>Needham analyst Charles Shi reaffirmed a Buy rating and price target of $950.</li>
<li>KeyBanc Capital Markets analyst Steve Barger reiterated a Sector Weight rating on the stock.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Mizuho Securities: Lam Research reported "good" results for its March quarter, with revenues and earnings of $3.8 billion and $7.79 per share, higher than the consensus of $3.72 billion and $7.30 per share, respectively, Rakesh said in a note.
Gross margin came in at a better-than-expected 48.7%. Systems revenue of $2.4 billion represented about 6% year-on-year growth. Customer Support Business Group (CSBG) revenue was $1.4 billion, down 13%. Management's June quarter guidance was in-line with expectations, he added.
Raymond James: Healthy demand from China drove Lam Research's results and outlook, Pajjuri said. "Management raised its CY24 WFE view and maintained its prior expectation for a stronger 2H," he added.
"While China is expected to moderate through the year, cyclical recovery in other regions and secular Gen AI growth should help sustain momentum," the analyst further wrote.
Needham: "While guiding up WFE to low- to mid-$90B from mid- to high-$80B, LRCX management said the increase was mainly due to the higher China lithography spending this year and should not change LRCX&#8217;s revenue outlook," Shi wrote in a note.
The company expects NAND to be a "2025 story," the analyst said. Lam Research's commentary implies a NAND WFE pickup in late 2024 to early 2025.
KeyBanc: China demand makes up 42% of Lam&#8217;s revenue. Barger also cited &#8220;improving System revenue.&#8221;
"Overall, LRCX indicated it views 2024 as more of a transition year as it positions for stronger growth in 2025 driven by a NAND recovery and augmented by share gains resulting from technology inflections, including AI-related devices, GAA, backside power, and advanced packaging," the analyst added.
LRCX Price Action: Shares of Lam Research had risen by 2.44% to $906.47 at the time of publication on Thursday.
Image: Shutterstock

Analyst Color

Earnings Misses

Reiteration

Movers

LRCX

Lam Research Expects 2024 To Be A 'Transition Year,' 4 Analysts Provide Key Q3 Takeaways

Shares of Caterpillar Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) fell sharply during Thursday's session after the company reported better-than-expected first-quarter EPS but missed <a href="https://www.benzinga.com/news/earnings/24/04/38433251/why-is-equipment-giant-caterpillar-stock-plunging-today">revenue estimates</a>.
Caterpillar reported a first-quarter fiscal 2024 revenue of $15.8 billion, a slight decrease of 0.4% year-over-year, missing the consensus of $16.216 billion. CAT's adjusted earnings of $5.60 per share, compared to $4.91 a year ago, topped the consensus of $5.14, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Caterpillar shares dipped 6.6% to $339.37 on Thursday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Barfresh Food Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRFH#NASDAQ">BRFH</a>) surged 87.2% to $2.05.</li>
<li>Safe &amp; Green Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) shares jumped 80% to $0.26. Safe &amp; Green Holdings said it has entered into an agreement to produce 4 modular electrical distribution centers as part of a multi-unit order for a client serving the big box retailer market.</li>
<li>Processa Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCSA#NASDAQ">PCSA</a>) shares gained 37.2% to $2.2250 after HC Wainwright &amp; Co initiated coverage on the stock with a Buy rating and announced an $8 price target.</li>
<li>Aclarion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACON#NASDAQ">ACON</a>) rose 35% to $0.3899.</li>
<li>reAlpha Tech Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRE#NASDAQ">AIRE</a>) gained 28.5% to $1.4906 after jumping 93% on Wednesday.</li>
<li>OptiNose, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTN#NASDAQ">OPTN</a>) rose 27.5% to $1.1806 after the company issued corporate updates, expecting to produce positive income from operations for the full year 2025.</li>
<li>Intelligent Living Application Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILAG#NASDAQ">ILAG</a>) shares climbed 21.3% to $0.6550 after gaining over 12% on Wednesday.</li>
<li>P.A.M. Transportation Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTSI#NASDAQ">PTSI</a>) surged 19.8% to $17.42 after the company announced a self-tender offer to purchase up to 550,000 shares at a price not less than $15.50-$18.00 per share.</li>
<li>SuperCom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCB#NASDAQ">SPCB</a>) climbed 19% to $0.2663. SuperCom received over $5 million in new orders from European Governments.</li>
<li>Ultralife Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULBI#NASDAQ">ULBI</a>) climbed 16.6% to $10.19 after the company reported better-than-expected quarterly financial results.</li>
<li>Impinj, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>) gained 16% to $140.21 after reporting better-than-expected first-quarter financial results.</li>
<li>Cidara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDTX#NASDAQ">CDTX</a>) gained 13.9% to $14.00 after the company announced the divestiture of rezafungin to Mundipharma, reacquired global development and commercial rights to CD388 and announced $240 million in private placement financing.</li>
<li>Sleep Number Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNBR#NASDAQ">SNBR</a>) surged 11.5% to $15.13 following first-quarter results.</li>
<li>Predictive Oncology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POAI#NASDAQ">POAI</a>) rose 10.7% to $1.49. Fujifilm and Predictive Oncology announced collaboration to reduce protein interference in bacterial endotoxin detection testing of biopharmaceuticals.</li>
<li>Strategic Education, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRA#NASDAQ">STRA</a>) jumped 10% to $110.78 following upbeat results.</li>
<li>Tyler Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TYL#NYSE">TYL</a>) gained 9.6% to $459.39 after the company reported better-than-expected first-quarter EPS and sales. Additionally, the company provided upbeat guidance for FY24.</li>
<li>TransUnion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRU#NYSE">TRU</a>) climbed 8.9% to $74.83 after the company reported better-than-expected first-quarter financial results. The company also provided upbeat guidance for second quarter</li>
<li>AstraZeneca PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NYSE">AZN</a>) rose 5.8% to $75.35 following a first-quarter revenue beat.</li>
<li>Teradyne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TER#NYSE">TER</a>) gained 5% to $105.71 after the company posted upbeat first-quarter results and issued strong second-quarter forecast.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>E-Home Household Service Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EJH#NASDAQ">EJH</a>) shares dipped 75% to $0.7192.</li>
<li>Chicken Soup for the Soul Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSSE#NASDAQ">CSSE</a>) fell 39.3% to $0.2581. Chicken Soup For The Soul Entertainment received delinquency letter from the Nasdaq.</li>
<li>Hanryu Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRYU#NASDAQ">HRYU</a>) shares dropped 37% to $0.3330. Hanryu Holdings received delinquency notice from the Nasdaq for late annual report filing.</li>
<li>ATN International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATNI#NASDAQ">ATNI</a>) fell 29% to $20.39 as the company posted weak quarterly sales and slashed FY24 revenue forecast.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) fell 27.3% to $2.71.</li>
<li>Huize Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUIZ#NASDAQ">HUIZ</a>) shares dipped 26% to $0.39.</li>
<li>Cyclacel Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYCC#NASDAQ">CYCC</a>) fell 24% to $1.7283.</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) dipped 23% to $4.4299 after the company mixed first-quarter financial results.</li>
<li>Organogenesis Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORGO#NASDAQ">ORGO</a>) fell 17.8% to $2.44</li>
<li>Orion Group Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORN#NYSE">ORN</a>) fell 17% to $6.60 following weak quarterly sales.</li>
<li>JAKKS Pacific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAKK#NASDAQ">JAKK</a>) fell 16.4% to $19.58 following a wider-than-expected quarterly loss.</li>
<li>Zapp Electric Vehicles Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZAPP#NASDAQ">ZAPP</a>) fell 16.4% to $3.3001 after dipping 15% on Wednesday.</li>
<li>Brookline Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKL#NASDAQ">BRKL</a>) dipped 13.8% to $8.23 following downbeat quarterly results.</li>
<li>Ethan Allen Interiors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETD#NYSE">ETD</a>) fell 13.5% to $28.91 following downbeat quarterly results.</li>
<li>MarineMax, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HZO#NYSE">HZO</a>) shares fell 13.5% to $23.50 after the company posted downbeat quarterly results and slashed FY24 EPS guidance.</li>
<li>ESGL Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESGL#NASDAQ">ESGL</a>) shares fell 12.9% to $0.5499.</li>
<li>Harley-Davidson, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOG#NYSE">HOG</a>) declined 12.7% to $34.45 following first-quarter results.</li>
<li>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares declined 11.3% to $437.50 after reporting first-quarter results.</li>
<li>Biophytis S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTS#NASDAQ">BPTS</a>) fell 9.7% to $8.57. Biophytis announced transfer of ADSs to OTC Market.</li>
<li>International Business Machines Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) fell 8.6% to $168.24 after the company reported mixed first-quarter financial results. The company also announced it will acquire HashiCorp.</li>
<li>Textron Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TXT#NYSE">TXT</a>) shares fell 12% to $82.78 following weaker-than-expected quarterly earnings.</li>
<li>FirstCash Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCFS#NASDAQ">FCFS</a>) dipped 10.6% to $118.00 following weak quarterly sales.</li>
<li>Whirlpool Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHR#NYSE">WHR</a>) fell 9.2% to $95.98 following first-quarter results.</li>
<li>BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) dipped 9% to $83.05 after the company reported first-quarter financial results.</li>
<li>Reliance, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RS#NYSE">RS</a>) fell 8.8% to $285.73 after the company reported worse-than-expected first-quarter financial results.</li>
<li>AZZ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZZ#NYSE">AZZ</a>) dipped 8.6% to $75.28. AZZ announced a proposed public offering of 4 million shares of common stock.</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) shares declined 7.7% to $27.03 after the company reported worse-than-expected first-quarter financial results.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) fell 6.8% to $45.50 following first-quarter earnings.</li>
<li>ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) shares fell 5.6% to $704.40 after the company reported first-quarter financial results.</li>
<li>Graco Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GGG#NYSE">GGG</a>) shares slipped 5.2% to $84.67 following downbeat first-quarter results.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/04/38430578/top-3-financial-stocks-that-could-sink-your-portfolio-this-quarter">Top 3 Financial Stocks That Could Sink Your Portfolio This Quarter</a>

ACON

AIRE

ATNI

BMRN

BNAI

BPTS

BRFH

BRKL

CDTX

CSSE

CYCC

ESGL

FCFS

HRYU

HUIZ

ILAG

JAKK

OPTN

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PCSA

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SGBX

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Why Caterpillar Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

TD Cowen analyst Moshe Orenbuch maintains Synchrony Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) with a Buy and raises the price target from $49 to $51.

TD Cowen Maintains Buy on Synchrony Finl, Raises Price Target to $51

<a href="https://t.co/156OpGGCCy" title="https://t.co/156OpGGCCy">https://t.co/156OpGGCCy</a> <a href="https://t.co/SCcZwLnY0d" title="https://t.co/SCcZwLnY0d">https://t.co/SCcZwLnY0d</a>

TTOO

T2 Biosystems Receives Notice Of Allowance For U.S. Patent Titled 'METHODS AND SYSTEMS FOR AMPLIFICATION IN COMPLEX SAMPLES (INCLUDING DIAGNOSTIC AND THERAPEUTICS METHODS FOR PATHOGENS IN WHOLE BLOOD)'

JP Morgan analyst Peter Peng maintains Silicon Laboratories (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLAB#NASDAQ">SLAB</a>) with a Overweight and lowers the price target from $165 to $150.

SLAB

JP Morgan Maintains Overweight on Silicon Laboratories, Lowers Price Target to $150

WIIM

TECK

Teck Resources shares are trading higher despite a Q1 earnings miss.

Northrop Grumman shares are trading higher after the company reported better-than-expected Q1 EPS and sales.

TD Cowen analyst Joseph Giordano maintains Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) with a Buy and lowers the price target from $475 to $450.

TD Cowen Maintains Buy on Teledyne Technologies, Lowers Price Target to $450

JP Morgan analyst Sebastiano Petti maintains ROGERS COMMUNICATIONS INC (TSX:<a class="ticker" href="https://www.benzinga.com/stock/RCI#TSX">RCI</a>) with a Overweight and lowers the price target from C$81 to C$80.

TSX:RCI

TSX:RCI.B

JP Morgan Maintains Overweight on ROGERS COMMUNICATIONS INC, Lowers Price Target to C$80

GSK Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>) has reportedly taken legal action against&nbsp;Pfizer Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and&nbsp;BioNTech&nbsp;SE&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) in a Delaware federal court, alleging patent infringement concerning mRNA technology used in the COVID-19 vaccines.&nbsp;
The lawsuit contends that Pfizer and BioNTech&#8217;s Comirnaty vaccines violate GSK&#8217;s patents.
Pfizer responded, expressing confidence in its intellectual property position regarding Comirnaty and asserting its intent to defend against GSK&#8217;s claims.&nbsp;
Reuters highlighted that GSK emphasized that its patents underpin the technology used in Pfizer and BioNTech&#8217;s COVID-19 mRNA vaccines. The company was willing to license these patents under reasonable terms to ensure ongoing vaccine access.
This lawsuit contributes to a series of high-stakes legal battles in the U.S. involving Pfizer, BioNTech, and&nbsp;Moderna&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) regarding patent royalties for vaccine technology.&nbsp;
GSK seeks unspecified monetary damages from Pfizer and BioNTech, including ongoing patent licensing fees.&nbsp;
The complaint highlights that GSK&#8217;s patents encompass technology for delivering mRNA into human cells, a development initiated in 2008 and acquired through its purchase of part of&nbsp;Novartis AG&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>)&nbsp;vaccines business in 2015.
Moderna&nbsp;is set&nbsp;to clash with&nbsp;Pfizer and&nbsp;BioNTech in a pivotal London patent trial concerning the development of&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/04/38388306/moderna-faces-pfizer-biontech-in-london-patent-battle-over-covid-19-vaccines-in-legal-showdown" rel="noreferrer noopener">COVID-19 vaccines</a>.&nbsp;
The High Court is slated to address a legal complaint brought by Moderna. It alleges patent infringement by its competitors in utilizing the mRNA platform crucial to vaccine development, a claim Pfizer and BioNTech have refuted by asserting patent invalidity.
Last August, GSK sued&nbsp;Pfizer in Delaware court, alleging that Pfizer&#8217;s respiratory syncytial virus (RSV) vaccine Abrysvo violates GSK&#8217;s four patent rights in&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/10/35492470/gsks-competitive-edge-surpasses-pfizer-in-respiratory-syncytial-virus-vaccine-sales" rel="noreferrer noopener">its RSV&nbsp;shot Arexvy</a>.
In the&nbsp;lawsuit, GSK said that Pfizer began working on its RSV program as early as 2013, at least&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/08/33523594/gsk-pfizer-lock-horns-over-patent-fight-related-to-respiratory-syncytial-virus-vaccine" rel="noreferrer noopener">seven years after GSK</a>.
Price Action:&nbsp;PFE stock is down 3.48% at $25.34, GSK shares are down 0.09% at $40.83, and BNTX stock is down 1.50% at $86.77 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

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MRNA

What's Going On With Pfizer Stock On Thursday?

TD Cowen analyst Krish Sankar maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Buy and raises the price target from $975 to $1000.

TD Cowen Maintains Buy on Lam Research, Raises Price Target to $1000

JP Morgan analyst Michael Mueller maintains Prologis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) with a Overweight and lowers the price target from $143 to $128.

JP Morgan Maintains Overweight on Prologis, Lowers Price Target to $128

JP Morgan analyst Brian Ossenbeck maintains Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) with a Neutral and lowers the price target from $231 to $219.

ODFL

JP Morgan Maintains Neutral on Old Dominion Freight Line, Lowers Price Target to $219

JP Morgan analyst Richard Shane maintains Navient (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAVI#NASDAQ">NAVI</a>) with a Neutral and lowers the price target from $17 to $16.

NAVI

JP Morgan Maintains Neutral on Navient, Lowers Price Target to $16

Kinder Morgan's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>) short percent of float has risen 29.38% since its last report. The company recently reported that it has 44.29 million shares sold short, which is 2.29% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.31 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Kinder Morgan Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714067123_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Kinder Morgan has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Kinder Morgan's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Kinder Morgan's peer group average for short interest as a percentage of float is 3.92%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into Kinder Morgan's Recent Short Interest

Lemonade's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) short percent of float has risen 4.5% since its last report. The company recently reported that it has 16.66 million shares sold short, which is 32.71% of all regular shares that are available for trading. Based on its trading volume, it would take traders 15.04 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Lemonade Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714067117_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Lemonade has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Lemonade's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Lemonade's peer group average for short interest as a percentage of float is 4.49%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

LMND

(LMND) - Analyzing Lemonade's Short Interest

Truist Finl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>) short percent of float has fallen 9.8% since its last report. The company recently reported that it has 12.28 million shares sold short, which is 0.92% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.46 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Truist Finl Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714067112_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Truist Finl has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Truist Finl's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Truist Finl's peer group average for short interest as a percentage of float is 3.89%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(TFC) - Analyzing Truist Finl's Short Interest

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