Latest News for Zion Oil & Gas Stock (OTC:ZNOGW)

Zion Oil & Gas Inc is a United States-based oil and gas exploration and production company. Zion currently holds one active petroleum exploration license onshore Israel, the Megiddo-Jezreel License covering an area of approximately 99,000 acres.

Zion Oil & Gas Inc

Macro Economic Events

Economics

iShares MSCI Israel Capped Investable Market Index Fund

Israeli Security Cabinet Thursday Night Approved IDF's 'Measured Expansion' Of ​​Rafah Operation

Piper Sandler analyst Kashy Harrison maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Neutral and raises the price target from $13 to $14.

News

Price Target

Analyst Ratings

ARRY

Piper Sandler Maintains Neutral on Array Technologies, Raises Price Target to $14

Earnings

CRESY

Cresud S.A.C.I.F. y A. 9M 2024 EPS US$0.0383 Down From US$0.137 YoY

Lake Street analyst Mark Smith downgrades Vista Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTO#NYSE">VSTO</a>) from Buy to Hold and announces $37 price target.

Downgrades

VSTO

Lake Street Downgrades Vista Outdoor to Hold, Announces $37 Price Target

The Food and Drug Administration (FDA) notified Moderna Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) on Friday that its review of a new vaccine <a href="https://www.benzinga.com/topic/vaccines">has been delayed</a>.
The agency, citing administrative constraints, does not expect to complete its review of the Biologics License Application (BLA) for mRNA-1345, Moderna&#8217;s investigational respiratory syncytial virus (RSV) vaccine, by the Prescription Drug User Fee Act <a href="https://www.benzinga.com/pressreleases/24/05/ac38756388/moderna-announces-update-on-investigational-rsv-vaccine" target="_blank" rel="noreferrer noopener">date of May 12, 2024</a>. 
The FDA has informed Moderna that it is working to conclude the review by the end of May 2024.
The FDA has not informed Moderna of any issues related to vaccine safety, efficacy, or quality that would prevent the approval of mRNA-1345.
Related: <a href="https://www.benzinga.com/general/biotech/24/05/38592653/moderna-reports-smaller-than-expected-q1-loss-prepares-for-rsv-vaccine-and-spikevax-2024-2025-for" target="_blank" rel="noreferrer noopener">Moderna Reports Smaller Than Expected Q1 Loss, Prepares For RSV Vaccine And Spikevax 2024-2025 Formula, Stock Soars</a>.
Moderna remains on track for mRNA-1345 to be reviewed at the CDC&#8217;s Advisory Committee on Immunization Practices June 26-27, 2024, meeting, which is necessary before commercial launch.
In February,&nbsp;Moderna released&nbsp;a longer-term trial analysis that showed a faster decline in the effectiveness of its&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/02/37039381/why-is-moderna-stock-trading-lower-today" rel="noreferrer noopener">experimental RSV vaccine</a>.
Follow-up data from the Phase 3 mRNA-1345 Trial At ReSViNET suggests the vaccine efficacy is declining faster than RSV vaccines from&nbsp;GSK Plc&nbsp; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>)&nbsp;and&nbsp;Pfizer Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>).
The data showed that the efficacy of the mRNA-1345 vaccine was about 63% after 8.6 months, from 84% at 3.3 months.
Top-line data released a year ago&nbsp;<a target="_blank" href="https://news.modernatx.com/news/news-details/2023/Moderna-Announces-mRNA-1345-an-Investigational-Respiratory-Syncytial-Virus-RSV-Vaccine-Has-Met-Primary-Efficacy-Endpoints-in-Phase-3-Trial-in-Older-Adults/default.aspx" rel="noreferrer noopener">showed</a>&nbsp;that mRNA-1345 demonstrated vaccine efficacy of 83.7% against RSV lower respiratory tract disease.
William Blair&nbsp;writes that although regulatory delays are disappointing and usually create noise around the probability of approval, the update on Moderna&#8217;s RSV vaccine does not alter the expectation that mRNA-1345 will receive approval under the current review cycle.&nbsp;
Management has pinned the RSV vaccination target addressable market at about $10 billion.
The analyst models $1.46 billion in peak U.S. sales for mRNA-1345.
&#8220;The product remains an important contributor to Moderna&#8217;s return to growth in 2025 and 2026 breakeven story,&#8221; William Blair writes.&nbsp;&nbsp;
The analyst reiterates the Market Perform rating on Moderna shares.
Price Action: MRNA shares are down 2.20% at $119.99 during the premarket session at last check Friday.
Now Read: <a href="https://www.benzinga.com/general/biotech/24/05/38592653/moderna-reports-smaller-than-expected-q1-loss-prepares-for-rsv-vaccine-and-spikevax-2024-2025-for">Moderna Reports Smaller Than Expected Q1 Loss, Prepares For RSV Vaccine And Spikevax 2024-2025 Formula, Stock Soars</a>
Image: Shutterstock

Biotech

Large Cap

Health Care

Movers

Trading Ideas

General

MRNA

FDA Delays 'Important' Moderna Vaccine Review: William Blair Says 2025 Growth, '2026 Breakeven Story' Depends On It

Dividends

Buybacks

Curtiss-Wright Boosts Share Repurchase Authorization By $300M To $400M, Increases Dividend From $0.20 To $0.21 Per Share

Piper Sandler analyst Matt O'Brien reiterates TELA Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELA#NASDAQ">TELA</a>) with a Overweight and lowers the price target from $12 to $10.

Reiteration

TELA

Piper Sandler Reiterates Overweight on TELA Bio, Lowers Price Target to $10

Lake Street analyst Eric Martinuzzi downgrades Evolv Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVLV#NASDAQ">EVLV</a>) from Buy to Hold and lowers the price target from $6 to $3.5.

EVLV

Lake Street Downgrades Evolv Technologies to Hold, Lowers Price Target to $3.5

Wedbush analyst Jay McCanless reiterates CoreCivic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXW#NYSE">CXW</a>) with a Outperform and maintains $19 price target.

Wedbush Reiterates Outperform on CoreCivic, Maintains $19 Price Target

Piper Sandler analyst Jason Bednar reiterates Steris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STE#NYSE">STE</a>) with a Neutral and raises the price target from $220 to $225.

Piper Sandler Reiterates Neutral on Steris, Raises Price Target to $225

Wedbush analyst Henry Coffey reiterates UWM Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UWMC#NYSE">UWMC</a>) with a Neutral and maintains $7 price target.

UWMC

Wedbush Reiterates Neutral on UWM Hldgs, Maintains $7 Price Target

Revance Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>) posted a loss for its <a href="https://www.benzinga.com/quote/RVNC/earnings">first quarter on Thursday</a>.
Revance Therapeutics posted a GAAP loss of 54 cents per share, compared to market expectations for a loss of 63 cents per share. The company's quarterly sales came in at $51.936 million versus estimates of $56.634 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
&#8220;We are very pleased to see the DAXXIFY strategy change continue to drive the desired momentum and market share gains. Notably, we saw a healthy uptick in volume both on a year-on-year basis, where aesthetic units sold increased by 105%, and on a sequential quarterly basis where aesthetic units sold increased by 7% despite traditional Q4 to Q1 seasonality. The positive impact of our strategy change was further reflected in our market share gains where DAXXIFY&#8217;s share increased from 3.0% in Q4&#8217;23 to 3.7% in Q1&#8217;24.1 DAXXIFY&#8217;s net revenue was $22.1 million for the quarter, after a reduction of $2.0 million related to a consumer coupon program. In addition, the RHA Collection continued to outpace the market growing share from 9.1% in Q4&#8217;23 to 9.8%1 in Q1&#8217;24, against the backdrop of a soft filler market,&#8221; said Mark J. Foley, President and Chief Executive Officer.
Revance continues to expect 2024 total net product revenue, which includes sales of DAXXIFY and RHA collection, to be at least $280 million.
Revance Therapeutics shares rose 0.5% to close at $4.29 on Thursday.
These analysts made changes to their price targets on Revance Therapeutics following earnings announcement.
<ul>
<li>Needham cut the price target on Revance Therapeutics from $18 to $12. Needham analyst Serge Belanger maintained a Buy rating.</li>
<li>Mizuho slashed the price target on Revance Therapeutics from $9 to $8. Mizuho analyst Vamil Divan maintained a Neutral rating.</li>
</ul>
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38757985/top-2-materials-stocks-that-could-blast-off-this-quarter">Top 2 Materials Stocks That Could Blast Off This Quarter</a>

Markets

AKAM

RVNC

These Analysts Lower Their Forecasts On Revance Therapeutics After Q1 Results

Piper Sandler analyst David Amsellem reiterates Revance Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RVNC#NASDAQ">RVNC</a>) with a Overweight and lowers the price target from $20 to $11.

Piper Sandler Reiterates Overweight on Revance Therapeutics, Lowers Price Target to $11

Thailand&#8217;s Prime Minister Srettha Thavisin has declared his government&#8217;s intention to re-criminalize cannabis by the end of 2024, undoing the country´s <a href="https://www.benzinga.com/markets/cannabis/22/06/27631189/thailand-makes-marijuana-legal-here-are-dos-donts-you-need-to-know">2022 decision</a> to decriminalize the plant.
The initial decriminalization of cannabis had catalyzed the establishment of a robust industry, fostering thousands of dispensaries and attracting foreign investment into high-tech cannabis farms. A report by the University of the Thai Chamber of Commerce in 2022 even estimated the industry&#8217;s <a href="https://www.benzinga.com/markets/cannabis/22/11/29790158/cannabis-legalization-in-germany-and-thailand-gray-market-in-brooklyn-craft-weed-companies-in-or">potential value</a> at $1.2 billion by 2025. However, under the proposed changes, cannabis would be relabeled as a &#8220;category five&#8221; narcotic, making it illegal to &#8220;produce, sell, import, export, or possess&#8221; the plant for non-medical purposes.
<h3 class="wp-block-heading">Facing Protests And Legal Challenges</h3>
This announcement comes after Thavisin, a former real estate businessman who took office in August, shared on social media his directive for the Ministry of Health to permit only medical and health-related uses of cannabis. This comes in the context of announced efforts &#8220;to solve the drugs problem within 90 days&#8221; in an X post on Wednesday.
The re-criminalization move has already ignited backlash, <a href="https://time.com/6976768/thailand-cannabis-criminalization-law-protests-lawsuits/">reported </a>Time. Rattapon Sanrak, owner of the Bangkok-based Highland Cafe, voiced the frustration of many: &#8220;We're all doing everything by the book but then suddenly the book is going to change.&#8221;
Resistance measures have been prepared for months as the government´s move comes in a coordinated and preannounced effort. Community and industry members are threatening to organize street protests and class-action lawsuits to repel the sudden changes in the regulatory paradigm. The nearly 8000 Affected dispensaries will likely join in. These <a href="https://www.benzinga.com/markets/asia/24/02/37115420/thai-gov-delays-ban-on-cannabis-as-anxious-business-people-prepare-to-file-thousands-of-lawsuits">class-action lawsuits</a> were in January of this year.
The policy reversal risks not only legal pushback but economic repercussions, undermining the growth and stability of the nascent cannabis sector. This concern is shared by the advocacy group Writing Thailand's Cannabis Future, which announced a protest scheduled for May 16 in Bangkok.
Meanwhile, this week in a landmark <a href="https://www.benzinga.com/markets/cannabis/24/05/38703535/thailand-approves-opium-magic-mushrooms-for-medical-and-research-purposes">shift in drug policy</a>, Thailand&#8217;s Ministry of Public Health officially sanctioned the medical and research use of opium and psilocybin mushrooms, commonly known as magic mushrooms.
<h3 class="wp-block-heading">Thailand´s U-Turn</h3>
The new government&#8217;s conservative approach contrasts sharply with its prior liberal stance, which positioned the Kingdom as a pioneer in cannabis reform within Southeast Asia. The 2022 decision made Thailand the<a href="https://www.benzinga.com/markets/cannabis/22/06/27708219/cannabis-legalization-in-thailand-pros-and-concerns-about-its-uses"> first country </a>in Southeast Asia to legalize recreational cannabis and the third in the world after Canada and Uruguay. This liberalization was originally intended to enhance agricultural income and promote wellness tourism.
Thavisin made clear his stance towards cannabis <a href="https://www.benzinga.com/markets/cannabis/24/01/36549341/thailand-takes-a-u-turn-on-weed-spains-health-minister-on-mmj-reform-and-more-global-cannabis-up">before </a>the May 2023 election when Pheu Thai Party came out against &#8220;full cannabis legalization.&#8221; Pushing the anti-cannabis agenda, Health Minister Cholnan Srikaew signed a bill to modify the cannabis legislation. &#8220;The use for fun is considered wrong,&#8221; stated Srikaew after people complained about <a href="https://www.benzinga.com/markets/cannabis/24/02/36960066/thai-gov-rushes-to-ban-cannabis-after-weed-smelling-coldplay-concert-more-pot-updates">smelling weed</a> in a Coldplay concert on February this year.
The Bhumjaithai Party, instrumental in the 2022 decriminalization under the previous administration but now a part of Thavisin&#8217;s government, argues that regulating recreational use would be more effective than outright prohibition. 
Should they hold, these changes will not affect the medical and research use of cannabis which is still approved. As this policy debate unfolds, the consequences will likely resonate far beyond Thailand&#8217;s borders, possibly influencing regional drug policy.

Cannabis

Government

Regulations

Thailand's Shift: New Prime Minister Plans To Criminalize Cannabis Reversing 2022 Decision

Barclays analyst Peter Lawson upgrades Relay Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RLAY#NASDAQ">RLAY</a>) from Equal-Weight to Overweight and maintains the price target from $15 to $15.

Upgrades

RLAY

Barclays Upgrades Relay Therapeutics to Overweight, Maintains Price Target to $15

Wedbush analyst Jay McCanless reiterates Guild Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GHLD#NYSE">GHLD</a>) with a Outperform and maintains $17 price target.

GHLD

Wedbush Reiterates Outperform on Guild Holdings, Maintains $17 Price Target

Piper Sandler analyst Kashy Harrison maintains Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) with a Underweight and lowers the price target from $2.9 to $2.5.

PLUG

Piper Sandler Maintains Underweight on Plug Power, Lowers Price Target to $2.5

In the ongoing legal skirmish between Kraken and the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38723057/gary-gensler-led-sec-a-source-of-frustration-for-robinhood-ceo-vlad-tenev-says-theyve-held">U.S. Securities and Exchange Commission</a> (SEC), the cryptocurrency exchange has challenged the SEC's linguistic precision in a fresh legal brief.
What Happened: Kraken's defense, detailed in a response filed last Thursday, criticizes the SEC for not specifying the exact nature of the &#8220;investment contracts&#8221; involved in the activities on its platform, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-05-10/kraken-battles-sec-over-investment-concept-wording-in-filing?embedded-checkout=true">reported</a>.
Instead, the SEC referred ambiguously to &#8220;investment concepts&#8221; and &#8220;ecosystems.&#8221;
Kraken&#8217;s legal contention highlights the SEC&#8217;s apparent lexical missteps in their April response to Kraken&#8217;s motion to dismiss the case. 
The exchange argues that the SEC's failure to properly define the securities involved undermines the legitimacy of the regulatory body's accusations. 
The SEC's own words from an earlier filing were invoked against it: "the words themselves do not delimit the security type because ‘the reach of the act does not stop with the obvious and commonplace'," a reference intended to underline the broad scope of regulatory reach, yet ironically pointing to the vague terminology used by the agency.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38736514/donald-trump-says-you-better-vote-for-him-if-youre-pro-crypto-but-has-he-always-been-fine-">Donald Trump Says &#8216;You Better Vote&#8217; For Him If You&#8217;re Pro-Crypto: But Has He Always Been &#8216;Fine With It&#8217;?</a>
The ongoing dispute with Kraken is part of a broader SEC initiative targeting major players in the cryptocurrency industry. Similar regulatory scrutiny has been applied to other key industry entities like Binance Holdings (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) and Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
Despite the aggressive regulatory stance, Kraken settled with the SEC on separate charges related to its staking services earlier in February 2023.
What&#8217;s Next: As industry stakeholders prepare for the Benzinga conference, the outcomes of cases like Kraken's may influence discussions on how digital asset companies navigate the complex web of U.S. securities laws.
The escalating regulatory scrutiny within the crypto industry underscores the themes that will be pivotal at the upcoming Benzinga <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19. 
The event is set to delve deeply into the intersection of regulation and innovation within the digital assets space.
Insights from these legal battles are expected to be key topics at the event, offering attendees a clearer perspective on the future <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38728088/jpmorgan-analysts-optimistic-about-future-approval-of-spot-ether-etfs-despite-regulatory-h">regulatory landscape for digital assets.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38733156/house-challenges-sec-over-crypto-custody-rules-biden-vows-blockade">House Challenges SEC Over Crypto Custody Rules, Biden Vows Blockade</a>

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

Cryptocurrency

$BNB

COIN

SEC Accusations Misworded? Kraken Fights Back In Crypto Regulation Clash

Barclays analyst Leon Wang downgrades RAPT Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAPT#NASDAQ">RAPT</a>) from Overweight to Equal-Weight and lowers the price target from $13 to $4.

RAPT

Barclays Downgrades RAPT Therapeutics to Equal-Weight, Lowers Price Target to $4

Wedbush analyst Laura Chico maintains Xenon Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XENE#NASDAQ">XENE</a>) with a Outperform and lowers the price target from $51 to $50.