Latest news for Pucara Gold (OTC:PCRAF) Stock

Pucara Gold Ltd is engaged in the acquisition, exploration, and evaluation of mineral properties in Peru. The company focuses on precious and base metal projects, including its flagship Lourdes Gold Project. The project portfolio includes Pacaska, Keyla, Lourdes, and Others. The Company is engaged in the discovery of mineral deposits and either sells, option, joint venture, or otherwise participate in their development.

Pucara Gold Ltd

Citigroup analyst Jason Bazinet maintains Vivid Seats (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEAT#NASDAQ">SEAT</a>) with a Buy and lowers the price target from $10 to $9.

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SEAT

Citigroup Maintains Buy on Vivid Seats, Lowers Price Target to $9

Investors with a lot of money to spend have taken a bearish stance on Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WMT, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 10 uncommon options trades for Walmart.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 70%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $56,250, and 8 are calls, for a total amount of $932,800.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $86.67 for Walmart during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Walmart's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Walmart's significant trades, within a strike price range of $55.0 to $86.67, over the past month.
<h3>Walmart Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726853486_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WMT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$2.0</td>
<td>$1.97</td>
<td>$1.98</td>
<td>$80.00</td>
<td>$326.7K</td>
<td>26.2K</td>
<td>2.3K</td>
</tr>
<tr>
<td>WMT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$1.05</td>
<td>$1.01</td>
<td>$1.01</td>
<td>$86.67</td>
<td>$222.2K</td>
<td>3.3K</td>
<td>2.2K</td>
</tr>
<tr>
<td>WMT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$4.75</td>
<td>$4.7</td>
<td>$4.7</td>
<td>$80.00</td>
<td>$148.9K</td>
<td>4.3K</td>
<td>400</td>
</tr>
<tr>
<td>WMT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$1.78</td>
<td>$1.72</td>
<td>$1.78</td>
<td>$80.00</td>
<td>$74.0K</td>
<td>26.2K</td>
<td>34</td>
</tr>
<tr>
<td>WMT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2.46</td>
<td>$2.44</td>
<td>$2.44</td>
<td>$77.50</td>
<td>$57.0K</td>
<td>11.1K</td>
<td>404</td>
</tr>
</tbody>
</table>

<h3>About Walmart</h3>
Walmart serves as the preeminent retailer in the United States, with its strategy predicated on superior operating efficiency and offering the lowest priced goods to consumers to drive robust store traffic and product turnover. Walmart augmented its low-price business strategy by offering a convenient one-stop shopping destination with the opening of its first supercenter in 1988.Today, Walmart operates over 4,600 stores in the United States (5,200 including Sam's Club) and over 10,000 stores globally. Walmart generated over $440 billion in domestic namesake sales in fiscal 2024, with Sam's Club contributing another $86 billion to the company's top line. Internationally, Walmart generated $115 billion in sales. The retailer serves around 240 million customers globally each week.
Following our analysis of the options activities associated with Walmart, we pivot to a closer look at the company's own performance.
<h3>Current Position of Walmart</h3>
<ul>
<li>With a trading volume of 9,487,545, the price of WMT is up by 1.14%, reaching $78.93.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 60 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Walmart</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $85.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Walmart, targeting a price of $80. 
&#x2A; An analyst from Jefferies has decided to maintain their Buy rating on Walmart, which currently sits at a price target of $90. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Walmart options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

Walmart Options Trading: A Deep Dive into Market Sentiment

Deep-pocketed investors have adopted a bullish approach towards Duolingo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DUOL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Duolingo. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 8% bearish. Among these notable options, 4 are puts, totaling $195,244, and 8 are calls, amounting to $936,360.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $190.0 to $270.0 for Duolingo over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Duolingo's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Duolingo's significant trades, within a strike price range of $190.0 to $270.0, over the past month.
<h3>Duolingo Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726853481_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DUOL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$79.1</td>
<td>$75.8</td>
<td>$77.0</td>
<td>$190.00</td>
<td>$184.8K</td>
<td style="text-align: right;">898</td>
<td style="text-align: right;">25</td>
</tr>
<tr>
<td>DUOL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$78.3</td>
<td>$76.1</td>
<td>$77.7</td>
<td>$190.00</td>
<td>$178.7K</td>
<td style="text-align: right;">898</td>
<td style="text-align: right;">260</td>
</tr>
<tr>
<td>DUOL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$78.5</td>
<td>$76.1</td>
<td>$77.7</td>
<td>$190.00</td>
<td>$124.3K</td>
<td style="text-align: right;">898</td>
<td style="text-align: right;">238</td>
</tr>
<tr>
<td>DUOL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$79.4</td>
<td>$76.3</td>
<td>$78.3</td>
<td>$190.00</td>
<td>$117.4K</td>
<td style="text-align: right;">898</td>
<td style="text-align: right;">375</td>
</tr>
<tr>
<td>DUOL</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/20/24</td>
<td>$78.5</td>
<td>$75.3</td>
<td>$77.1</td>
<td>$190.00</td>
<td>$100.2K</td>
<td style="text-align: right;">898</td>
<td style="text-align: right;">50</td>
</tr>
</tbody>
</table>

<h3>About Duolingo</h3>
Duolingo Inc is a technology company that develops mobile learning platform to learn languages and is the top-grossing app in the Education category on both Google Play and the Apple App Store. Its products are powered by sophisticated data analytics and artificial intelligence and delivered with class art, animation, and design to make it easier for learners to stay motivated master new material, and achieve their learning goals. Its solutions include The Duolingo Language Learning App, Super Duolingo, Duolingo English Test: AI-Driven Language Assessment, Duolingo For Schools, Duolingo ABC, and Duolingo Math. It has three predominant sources of revenue; time-based subscriptions, in-app advertising placement by third parties, and the Duolingo English Test.
Having examined the options trading patterns of Duolingo, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is Duolingo Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 331,513, with DUOL's price down by -1.32%, positioned at $260.51.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 47 days.</li>
</ul>
<h3>What The Experts Say On Duolingo</h3>
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $260.5.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Duolingo, targeting a price of $271. 
&#x2A; An analyst from DA Davidson persists with their Buy rating on Duolingo, maintaining a target price of $250. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Duolingo options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

DUOL

Duolingo Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with KKR, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 9 uncommon options trades for KKR.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 55%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $106,840, and 7 are calls, for a total amount of $3,084,627.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $120.0 to $135.0 for KKR over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for KKR options trades today is 474.5 with a total volume of 3,930.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for KKR's big money trades within a strike price range of $120.0 to $135.0 over the last 30 days.
<h3>KKR Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726853475_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$14.2</td>
<td>$12.5</td>
<td>$13.7</td>
<td>$120.00</td>
<td>$1.5M</td>
<td>1.8K</td>
<td>1.6K</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$14.2</td>
<td>$13.8</td>
<td>$13.8</td>
<td>$120.00</td>
<td>$771.4K</td>
<td>1.8K</td>
<td>559</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$15.5</td>
<td>$14.4</td>
<td>$14.6</td>
<td>$135.00</td>
<td>$292.0K</td>
<td>43</td>
<td>400</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$16.3</td>
<td>$14.4</td>
<td>$14.6</td>
<td>$135.00</td>
<td>$248.2K</td>
<td>43</td>
<td>200</td>
</tr>
<tr>
<td>KKR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$16.1</td>
<td>$14.7</td>
<td>$14.7</td>
<td>$135.00</td>
<td>$136.7K</td>
<td>43</td>
<td>600</td>
</tr>
</tbody>
</table>

<h3>About KKR</h3>
KKR is one of the world's largest alternative asset managers, with $601.3 billion in total managed assets, including $487.3 billion in fee-earning AUM, at the end of June 2024. The company has two core segments: asset management (which includes private markets—private equity, credit, infrastructure, energy, and real estate—and public markets—primarily credit and hedge/investment fund platforms) and insurance (following the firm's initial investment in, and then ultimate purchase of, Global Atlantic Financial Group, which is engaged in retirement/annuity and life insurance lines as well as reinsurance).
Having examined the options trading patterns of KKR, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of KKR</h3>
<ul>
<li>Trading volume stands at 1,663,174, with KKR's price down by -0.78%, positioned at $131.76.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 46 days.</li>
</ul>
<h3>What Analysts Are Saying About KKR</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $143.66666666666666.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from Redburn Atlantic downgraded its rating to Buy, setting a price target of $153. 
&#x2A; Reflecting concerns, an analyst from Wells Fargo lowers its rating to Equal-Weight with a new price target of $130. 
&#x2A; Reflecting concerns, an analyst from HSBC lowers its rating to Buy with a new price target of $148.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest KKR options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Smart Money Is Betting Big In KKR Options

Axon Enterprise (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXON#NASDAQ">AXON</a>) has outperformed the market over the past 5 years by 31.09% on an annualized basis producing an average annual return of 45.04%. Currently, Axon Enterprise has a market capitalization of $29.26 billion. 
Buying $100 In AXON: If an investor had bought $100 of AXON stock 5 years ago, it would be worth $626.03 today based on a price of $387.11 for AXON at the time of writing.
<h3>Axon Enterprise's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726853446_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

AXON

Here's How Much You Would Have Made Owning Axon Enterprise Stock In The Last 5 Years

Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) has outperformed the market over the past 10 years by 6.09% on an annualized basis producing an average annual return of 17.31%. Currently, Autodesk has a market capitalization of $58.31 billion. 
Buying $100 In ADSK: If an investor had bought $100 of ADSK stock 10 years ago, it would be worth $482.46 today based on a price of $270.58 for ADSK at the time of writing.
<h3>Autodesk's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726853441_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ADSK

Here's How Much $100 Invested In Autodesk 10 Years Ago Would Be Worth Today

Mizuho analyst Graig Suvannavejh maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Neutral and lowers the price target from $42 to $39.

APLS

Mizuho Maintains Neutral on Apellis Pharmaceuticals, Lowers Price Target to $39

A recent <a href="https://pubmed.ncbi.nlm.nih.gov/39235808/">study</a> published in JAMA Network Open explores how <a href="https://www.benzinga.com/topic/cannabis-news">cannabis</a> legalization, both medical and recreational, is influencing the prescription of medications for mental health disorders in the U.S. The findings reveal notable shifts in the use of psychotropic medications, particularly benzodiazepines, antidepressants and antipsychotics, with cannabis laws having diverse effects depending on the medication class and the type of cannabis legislation in place.
<h3 class="wp-block-heading">Examining The Effects Of Cannabis Legalization</h3>
The study examined data from over 10 million commercially insured patients between 2007 and 2020, to analyze how medical and recreational cannabis laws, as well as the opening of dispensaries, affected prescription patterns. The research highlights the evolving role of cannabis in mental health treatment, especially as legalization becomes more widespread across the U.S.
<h3 class="wp-block-heading">Key Findings</h3>
Benzodiazepines: In states where medical cannabis laws were enacted, the study found a 12.4% reduction in benzodiazepine prescription fill rates. In states with recreational cannabis laws, the reduction was even higher at 15.2%. This decline aligns with the widely accepted idea that cannabis, particularly strains high in <a href="https://www.benzinga.com/topic/cbd">CBD</a>, can have anxiolytic effects. The study also found that both medical and recreational dispensaries were associated with a decrease in the number of benzodiazepine fills per patient and the supply of days per prescription.
Antidepressants and Antipsychotics: Interestingly, the impact on antidepressants and antipsychotics went in the opposite direction. Medical cannabis laws were associated with a 3.8% increase in antidepressant prescriptions, while the opening of medical dispensaries led to an 8.8% increase in antidepressant fills. Antipsychotic fills also rose by 2.5% after the implementation of medical cannabis laws and the opening of dispensaries.
<h3 class="wp-block-heading">Implications For Mental Health Treatment</h3>
These findings illustrate the complex relationship between cannabis use and the treatment of mental health disorders. While cannabis may serve as an alternative to benzodiazepines for anxiety, its legalization seems to drive up the use of other psychiatric medications, such as antidepressants and antipsychotics. This raises important questions about the broader mental health impacts of cannabis legalization, especially as high-<a href="https://www.benzinga.com/topic/thc">THC</a> cannabis products have been linked to exacerbating conditions like depression and psychosis.
Dr. W. David Bradford, one of the study's authors, noted, &#8220;Access to cannabis may represent a meaningful shift in mental health treatment for this population.&#8221; However, the study also emphasizes that while cannabis might reduce the use of certain medications like benzodiazepines, it may lead to increased use of others, suggesting a complex interaction between cannabis, mental health disorders and pharmaceutical treatments.
<h3 class="wp-block-heading">Call For Further Research</h3>
The study underscores the need for more clinical research to understand the full extent of cannabis&#8217;s impact on mental health treatment. Given the heterogeneous effects observed across states and medication classes, the findings suggest that policymakers and healthcare providers need to consider the broader implications of <a href="https://www.benzinga.com/topic/cannabis-legalization">cannabis legalization</a> on mental health outcomes.
Additionally, the results highlight the importance of communicating with healthcare providers about cannabis use, particularly for individuals with mental health disorders who may be managing complex treatment regimens. The growing availability of cannabis—both medical and recreational—introduces new variables into psychiatric care, which professionals must take into account when treating patients.
Cover image made with AI

Cannabis

Psychedelics

Is Cannabis Legalization Reducing Psychiatric Drug Use? Study Reveals Interesting Trends In Benzodiazepine, Antidepressants, Antipsychotics

Thursday, the FDA approved Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) Rybrevant&nbsp;(amivantamab-vmjw) in combination with standard-of-care chemotherapy (carboplatin and pemetrexed) for locally advanced or metastatic non-small cell lung cancer (NSCLC) with epidermal growth factor receptor (EGFR) exon 19 deletions (ex19del) or L858R substitution mutations, whose disease has progressed on or after treatment with an EGFR <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40949916/rybrevant-amivantamab-vmjw-plus-standard-of-care-approved-in-the-u-s-as-first-and-only-targeted-re" rel="noreferrer noopener">tyrosine kinase inhibitor</a>.
The FDA approval is based on results from the Phase 3 MARIPOSA-2 study, which showed that Rybrevant&nbsp;plus chemotherapy reduced the risk of disease progression or death (progression-free survival [PFS]) by 52% compared to chemotherapy alone, the study&#8217;s primary endpoint.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40630058/johnson-johnson-seeks-fda-approval-for-muscle-weakness-drug-and-gears-up-showdown-with-argenx-and" rel="noreferrer noopener">Johnson &amp; Johnson Seeks FDA Approval For Muscle Weakness Drug And Gears Up Showdown With Argenx and UCB</a>.
The median PFS for patients receiving Rybrevant&nbsp;plus chemotherapy was 6.3 months, compared to 4.2 months for chemotherapy alone.
Additionally, Rybrevant plus chemotherapy showed a confirmed overall response rate (ORR) of 53% compared to 29% with chemotherapy alone.
This approval marks the third new indication for Rybrevant&nbsp;this year,&nbsp;following the&nbsp;FDA&nbsp;<a target="_blank" href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4248839-1&amp;h=2533596364&amp;u=https%3A%2F%2Fwww.jnj.com%2Fmedia-center%2Fpress-releases%2Frybrevant-amivantamab-vmjw-plus-lazcluze-lazertinib-approved-in-the-u-s-as-a-first-line-chemotherapy-free-treatment-for-patients-with-egfr-mutated-advanced-lung-cancer&amp;a=approval" rel="noreferrer noopener">approval</a> of Rybrevant&nbsp;in combination with Lazcluze (lazertinib) for the first-line treatment of adult patients with locally advanced or metastatic NSCLC with EGFR exon 19 deletions or&nbsp;L858R substitution mutations, based on the Phase 3 MARIPOSA study, and FDA&nbsp;<a target="_blank" href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4248839-1&amp;h=2687046947&amp;u=https%3A%2F%2Fwww.jnj.com%2Fmedia-center%2Fpress-releases%2Frybrevant-amivantamab-vmjw-in-combination-with-chemotherapy-is-the-first-fda-approved-therapy-for-first-line-treatment-of-patients-with-non-small-cell-lung-cancer-with-egfr-exon-20-insertion-mutations&amp;a=approval" rel="noreferrer noopener">approval</a> of Rybrevant&nbsp;in combination with chemotherapy (carboplatin-pemetrexed) for the first-line treatment of patients with locally advanced or metastatic NSCLC with EGFR exon 20 insertion mutations, based on the Phase 3 PAPILLON study.
In June, Johnson &amp; Johnson submitted an FDA marketing application for a fixed combination of amivantamab and recombinant human hyaluronidase for subcutaneous administration for all currently approved or submitted indications of intravenous (IV) Rybrevant.
The application is based on the Phase 3 PALOMA-3 study, in which the preliminary results showed a five-fold reduction in infusion-related reactions (IRR) with a five-minute administration of SC amivantamab.
Price Action: JNJ stock is down 0.18% at $164.52 at last check Friday.
Image by PDPics from Pixabay
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Biotech

Equities

Large Cap

Health Care

General

Johnson & Johnson's Rybrevant Scores Third FDA-Approval Of 2024 For Certain Type Of Inoperable Lung Cancer In Pretreated Patients

NovaBay Pharmaceuticals, Inc. (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NBY#AMEX">NBY</a>) shares are trading higher after the company announced it reached a definitive agreement to sell its Avenova assets for $9.5 million to <a href="https://www.benzinga.com/news/24/09/40956105/novabay-pharmaceuticals-reaches-definitive-deal-to-sell-avenova-assets-for-9-5m-expected-to-close-q4">Physician Recommended Nutraceuticals</a>.
The Details: The company expects the transaction to close during the 2024 fourth quarter, pending NovaBay shareholder approval. 
&#8220;I believe we have found an ideal home for Avenova. We expect the brand to continue to grow and flourish under PRN&#8217;s capable leadership and their ability to promote Avenova through their existing network of more than 5,000 eyecare professionals,&#8221; said NovaBay CEO Justin Hall.
&#8220;It&#8217;s gratifying to share that more people are using Avenova than ever before and with the support, resources and synergies that PRN can provide, we expect that number to continue to grow.&#8221;
How To Buy NovaBay Shares
By now you're likely curious about how to participate in the market for NovaBay Pharmaceuticals (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NBY#AMEX">NBY</a>) &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so. 
mIf you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
Related Link: <a href="https://www.benzinga.com/markets/cannabis/24/09/40900626/legal-medical-cannabis-could-save-us-healthcare-29b-annually-new-study-finds">Legal Medical Cannabis Could Save US Healthcare $29B Annually, New Study Finds</a>
NBY Price Action: At the time of writing, NovaBay stock is trading 25.0% higher at 62 cents per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Photo by roberto-sorin for Unsplash

Movers

What's Going On With NovaBay Pharmaceuticals Shares Friday?

Mizuho analyst Gabriel Moreen maintains New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) with a Neutral and raises the price target from $45 to $47.

Mizuho Maintains Neutral on New Jersey Resources, Raises Price Target to $47

Citigroup analyst Keith Horowitz initiates coverage on Capital One Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) with a Buy rating and announces Price Target of $190.

Initiation

Citigroup Initiates Coverage On Capital One Finl with Buy Rating, Announces Price Target of $190

Friday, the FDA approved &nbsp;Zevra Therapeutics, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZVRA#NASDAQ">ZVRA</a>) Miplyffa (arimoclomol), an oral medication for Neimann-Pick disease, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40961665/zevra-therapeutics-miplyffa-arimoclomol-receives-u-s-fda-approval-as-treatment-for-niemann-pick-di" rel="noreferrer noopener">type C (NPC)</a>.
Miplyffa, in combination with Johnson &amp; Johnson's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) enzyme inhibitor Zavesca (miglustat), is approved to treat neurological symptoms associated with NPC in adults and children two years of age and older.
Miplyffa is the first drug approved by the FDA to treat NPC.&nbsp;
NPC is a rare genetic disease that results in progressive neurological symptoms and organ dysfunction.
It is caused by changes in either the NPC1 or NPC2 gene, affecting the necessary transport of cholesterol and other lipids within a cell. As a result, these cells do not function as they should, ultimately causing organ damage.
Miplyffa was the first product application to be&nbsp;discussed&nbsp;at the inaugural meeting of the&nbsp;Genetic Metabolic Diseases Advisory Committee&nbsp;(GeMDAC) in August.
The committee voted favorably (11 yes, 5 no) that the data supports that arimoclomol is effective in treating <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40157788/fda-panel-backs-zevras-arimoclomol-for-rare-genetic-disorder-analyst-highlights-bal" rel="noreferrer noopener">patients with NPC</a>.
GeMDAC was established in December 2023 to advise the agency on products used for the diagnosis, prevention or treatment of genetic metabolic diseases.&nbsp;
The safety and effectiveness of Miplyffa were evaluated in a randomized, double-blind, placebo-controlled 12-month trial in patients.
Miplyffa's efficacy was demonstrated by the rescored 4-domain NPC Clinical Severity Scale (R4DNPCCSS) score in the patients who used miglustat as their background treatment.
The R4DNPCCSS is a measure of NPC disease progression. Higher scores signify a greater severity of the disease.
Compared to placebo, Miplyffa resulted in a slower disease progression.
In 2021, the FDA issued a complete response letter to arimoclomol as a treatment option for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/21/06/21621339/orphazyme-wild-party-at-risk-as-fda-rejects-its-rare-neurodegenerative-disease-drug?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+benzinga+%28Benzinga+News+Feed%29" rel="noreferrer noopener">Niemann-Pick disease type C</a>.
The CRL asked for additional qualitative and quantitative evidence to further support the validity and interpretation of the 5-domain NPC Clinical Severity Scale,&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/21/11/23783862/orphazyme-stock-gains-after-fda-update-on-arimoclomol-in-rare-neurodegenerative-disorder" rel="noreferrer noopener">particularly the swallow domain</a>.
Zevra Therapeutics resubmitted its New Drug Application (NDA) for arimoclomol to the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/23/12/g36395563/zevra-therapeutics-announces-resubmission-of-arimoclomol-new-drug-application-to-the-u-s-food-and-" rel="noreferrer noopener">FDA in December 2023</a>.
Price Action: ZVRA stock is up 1.01% at $8.01 at the last check on Friday.
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</ul>

ZVRA

Zevra Therapeutics' Drug Becomes First FDA-Approved Treatment For Ultra-Rare Neurodegenerative Disease

Mizuho analyst Dan Dolev maintains Upstart Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) with a Outperform and raises the price target from $33 to $48.

UPST

Mizuho Maintains Outperform on Upstart Hldgs, Raises Price Target to $48

HC Wainwright &amp; Co. analyst Oren Livnat maintains Zevra Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZVRA#NASDAQ">ZVRA</a>) with a Buy and raises the price target from $18 to $20.

HC Wainwright & Co. Maintains Buy on Zevra Therapeutics, Raises Price Target to $20

Mizuho analyst Vijay Rakesh maintains Lam Research (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) with a Outperform and lowers the price target from $1050 to $950.

LRCX

Mizuho Maintains Outperform on Lam Research, Lowers Price Target to $950

On Friday, the U.S. Department of Energy (DOE) announced over $3 billion for 25 projects in 14 states to boost domestic production of advanced batteries and materials.
Of the 25 <a target="_blank" href="https://www.energy.gov/articles/biden-harris-administration-announces-over-3-billion-support-americas-battery#:~:text=WASHINGTON%2C%20D.C.%20%E2%80%94%20As%20part%20of,batteries%20and%20battery%20materials%20nationwide." rel="noreferrer noopener">selected</a> projects, over half have committed to or signed a Project Labor Agreement, and 10 have agreements with labor or neutrality pledges.
Union partners include NABTU, Boilermakers, SMART, Carpenters, Operating Engineers, UFCW, IBEW, and the UA. These projects, once finalized, are expected to create over 8,000 construction jobs and 4,000 operating jobs.
This initiative supports the administration's clean energy strategy alongside a $120 billion private sector investment in the EV supply chain.
These projects, which are essential for the U.S. grid and transportation electrification, are expected to improve facilities for producing battery-grade materials, components, manufacturing, and recycling.
The DOE is leveraging grants and loans to build a resilient battery manufacturing supply chain for Americans. Through MESC, the Investing in America agenda will generate $16 billion for battery manufacturing and recycling via the Battery Materials Processing and Manufacturing Program.
U.S. Secretary of Energy Jennifer M. Granholm said, "We're in the midst of a manufacturing revival in the United States as the Biden-Harris Administration's Investing in America agenda continues to breathe new life into communities and local economies across the country,"
John Podesta, Senior Advisor to President Biden for International Climate Policy, stated,&nbsp;"Today's battery manufacturing grants from DOE will boost America's manufacturing base, create good-paying union jobs all over the country, and help tackle the climate crisis."
As per Reuters report, Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) will receive $67 million for a project in North Carolina to produce commercial quantities of anode material for next-generation lithium-ion batteries.
In addition, the DOE plans to award Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) $100 million to produce battery-grade carbonate solvents for lithium-ion battery electrolytes.
Also, Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) is projected to attain $126.6 million to construct a commercial-scale facility in Louisiana for producing a key electrolyte salt essential for lithium batteries.
This month, Occidental Petroleum's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)&nbsp;subsidiary, 1PointFive, disclosed that the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) planned to provide up to $500 million to support the development of the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40850606/occidentals-1pointfive-secures-500m-boost-to-capture-co2-details" rel="noreferrer noopener">South&nbsp;Texas Direct Air Capture (DAC) Hub</a>.
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by earth phakphum via Shutterstock

Commodities

Legal

US Department Of Energy To Invest $3B in Battery Production

Cantor Fitzgerald analyst Charles Duncan reiterates Intra-Cellular Therapies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) with a Overweight and maintains $130 price target.

Reiteration

ITCI

Cantor Fitzgerald Reiterates Overweight on Intra-Cellular Therapies, Maintains $130 Price Target

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GOOG

GOOGL

'Google Faces EU Ultimatum in Fresh Attack on Search Dominance' - Bloomberg

Mizuho analyst Vijay Rakesh maintains Applied Mat (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) with a Outperform and lowers the price target from $245 to $225.

AMAT

Mizuho Maintains Outperform on Applied Mat, Lowers Price Target to $225

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