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Cassava Sciences

Cassava Sciences Inc is a clinical-stage biotechnology company engaged in developing a scientific approach for the treatment and detection of Alzheimer's disease. Its therapeutic product candidate is called simufilam, and it is a novel treatment for Alzheimer's disease; and investigational diagnostic product candidate is called SavaDx, and it is a novel way to detect the presence of Alzheimer's disease from a small sample of blood, possibly years before the overt appearance of clinical symptoms. It is currently conducting two randomized placebo-controlled Phase 3 clinical trials of oral simufilam in patients with Alzheimer's disease dementia.

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Members of the Board,
We are writing to you today as a stockholder of Seres who is seeking additional information regarding the Company's planned sale of its VOWST business to Nestlé Health Science.
We have read a recent media report from Betaville which states that Nestlé S.A. ("Nestlé") approached Seres in July 2024 with an offer to acquire the entire Company for between $6.00 and $6.50 a share. Furthermore, the article states that Seres' Board rejected the offer and instead pursued the sale of the VOWST assets, which was initially announced in June 2024.
This concerns us because Nestlé's offer would have represented a more than 622% premium to the Company's stock price.1 Additionally, it is well known that Seres has been struggling to fund its operations. Investors do not appear to have strong confidence in the Company's ability to turn itself around in the public market, as evidenced by the negative stock price reaction to the August 6, 2024 announcement of the signing of the VOWST sale agreement.2 Nestlé's reported offer could have resulted in a superior outcome for stockholders than the VOWST sale, giving certainty of value to your investors.
If this media report is accurate, that would mean the Board violated its fiduciary duty to stockholders – specifically, its duty to maximize stockholder value – and could be held legally liable. We acknowledge that this information stems from a singular media report, which is why we are asking the Board to provide stockholders with a factual assessment of the contents of the report so that we may make fully informed decisions regarding our investment in the Company.
If you do not address my concerns in a timely fashion, we plan to consider all legal remedies under U.S. federal securities laws, which may potentially include asking a court to void the votes of the Special Meeting of Stockholders based on misleading and incomplete information given to investors.
Time is of the essence, as Seres intends to close the VOWST sale to Nestlé on September 30, 2024. We look forward to hearing from you soon.
Sincerely,
Lucien Selce
&nbsp;
Antoine Khalife
&nbsp;
&nbsp;
MKT Capital Ltd.

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Seres Therapeutics Stockholders Publish Open Letter To Board Urging Clarity On Alleged Rejected Nestlé Takeover Offer Of $6.00-$6.50 Per Share Ahead Of VOWST Sale Closing

New York&#8217;s legal cannabis market is rapidly gaining momentum, with state officials predicting it could reach $1 billion in sales in its second full year of adult-use cannabis sales. <a href="https://www.greenmarketreport.com/new-york-anticipates-more-than-800-million-in-sales-in-2024/">According</a> to Debra Brochard, for Green Market Report, John Kagia, director of policy for the New York Office of Cannabis Management (OCM), shared this optimistic outlook at both the National Cannabis Industry Association&#8217;s New York Stakeholder event and the Cannabis Insider Conference in Albany this week.
<h3 class="wp-block-heading">Sales Climb With Expanding Retail Footprint</h3>
Kagia announced that New York has logged $470 million in <a href="https://www.benzinga.com/markets/cannabis/24/08/40496042/new-yorks-legal-cannabis-market-surpasses-500m-after-crackdown-on-illegal-shops">cannabis sales</a> through the third quarter of 2024 and is currently averaging $21.5 million per week. This number is steadily increasing, by about $1 million every three weeks, setting the state on track for $24 million in weekly sales by year-end. Kagia's bullish outlook stems from New York's expanding cannabis infrastructure, with 200 retail stores now operating and 500 brands in the market. The state is on pace to open 21 additional stores in the next 23 days.
<h3 class="wp-block-heading">Enforcement Boosts Legal Sales</h3>
Kagia pointed to the state's ongoing efforts to improve regulations and enforcement, including a stepped-up push to <a href="https://www.benzinga.com/markets/cannabis/24/07/40085217/new-york-shuts-down-over-1-000-illegal-cannabis-stores-boosting-legal-sales-by-72">close unlicensed operators</a>. These enforcement efforts have led to dramatic sales increases, with some legal operators reporting up to a 200% boost in same-store sales.&nbsp;
<h3 class="wp-block-heading">OCM Introduces New Tools For Licensees</h3>
The OCM is <a href="https://www.benzinga.com/markets/cannabis/24/07/39735785/ny-cannabis-stores-get-green-light-for-flashy-ads-and-discounts-as-state-approves-over-100-new-p">also working</a> on changes to packaging, advertising and the introduction of consumption lounges, which remain under review. The office has also <a href="https://www.benzinga.com/markets/cannabis/24/09/41031812/cannabis-licensing-and-finding-dispensaries-in-new-york-just-got-easier-heres-how">introduced the Legal Cannabis Online Activity Locator (LOCAL</a>), a mapping tool designed to simplify the cannabis licensing process statewide, which will also allow New Yorkers to easily locate the nearest legal dispensary.
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Cannabis

New York Legal Cannabis Sales Poised To Reach $1B, Following Crackdown On Illicit Retailers

Citigroup Warns Some Employees In Memo About Misconduct By Staff And Contractors; Considering Bolstering Controls Over Contract Workers; Says It Has Zero Tolerance For Fraud, Unethical Behavior; Citi Declined To Comment On Memo About Contractors

WIIM

Trump Media & Technology Group shares are trading higher amid Donald Trump's meeting with Ukrainian President Zelenskyy and Friday's rally. The company's lockup period recently expired.

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U.S. And Iraq Announce Conclusion Of Coalition's Military Mission In Iraq Over The Next 12 Months, And No Later Than The End Of September 2025; Military Mission Of The Coalition Operating In Syria Will Continue Until September 2026

Israeli Military Says It Is Continuing To Strike Hezbollah Targets

Robert A. Hocking, senior vice president and global head of product innovation at Cboe Global Markets, revealed that Zero Days to Expiration (Zero DTE) options now account for nearly 47% of SPX trading volume in 2024.
That&#8217;s a dramatic rise from just eight years ago. 
&#8220;Zero DTE accounted for roughly 5% of SPX option volumes in 2016,&#8221; Hocking explained at Benzinga&#8217;s latest virtual event, <a href="https://www.benzinga.com/events/managing-volatile-markets-with-0dte-options/">Managing Volatile Markets with 0DTE Options</a>, which was sponsored by Cboe. &#8220;This has jumped to 45% by the end of 2023, and it's crept up to around 47% in 2024,&#8221; he added. 
As a result, SPX's overall trading volume has doubled daily to approximately 3 million contracts, compared to 1.5 million in 2016.
<h3 class="wp-block-heading">Retail And Institutional Traders Fuel Growth</h3>
Both retail and institutional traders have driven the rapid expansion of Zero DTE options. Initially embraced by retail traders, institutional participation has increased, further boosting liquidity in the market. 
Hocking noted that Zero DTE options are now a major part of the trading landscape, with institutional players helping sustain their growth.
&#8220;What's fascinating is that Zero DTE now represents 1.4 million contracts daily—more than the total SPX daily average volume in 2016,&#8221; Hocking stated. &#8220;It's become a crucial tool for managing short-term trades and risk exposure, which is why it's seen such broad adoption.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="CBOE - 0DTE Options &#x7C; Rob Hocking &#x7C; Benzinga Virtual Events" width="500" height="281" src="https://www.youtube.com/embed/9xq-YR-f22w?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
<h3 class="wp-block-heading">Impact on Market Volatility</h3>
Despite the surge in Zero DTE trading, concerns about its potential effect on market volatility have not been realized. Hocking emphasized that Cboe&#8217;s data shows no evidence linking these options to increased market turbulence. &#8220;We&#8217;ve been closely monitoring the data, and there&#8217;s no sign that Zero DTE options are adding risk to the market,&#8221; he said.
Introducing Zero DTE options has provided traders with new ways to manage both the upside and downside of their portfolios, offering greater flexibility in their strategies.
<h3 class="wp-block-heading">Future of Zero DTE Options</h3>
As Zero DTE trading continues to flourish, Cboe is exploring further opportunities to meet the growing demand from institutional investors. Hocking suggested that more tools and data will likely emerge as the market for these options expands.
&#8220;Zero DTE is here to stay,&#8221; Hocking concluded. &#8220;Its growth reflects the shift in how retail and institutional traders approach the options market.&#8221;
Now Read:
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/09/41072065/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a></li>
</ul>
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Zero DTE Options Fuel Record SPX Trading Volumes, With No Signs Of Slowing Down: Expert

Even though the Chinese stock market has been scrutinized extensively in the past couple of years, some investors have begun to realize that there is much more upside than apparent risk for Asia&#39;s powerhouse. China&#39;s technology sector has the lowest valuation in history compared to its American counterpart.
Measured through the KraneShares CSI China Internet ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kweb#NYSE">KWEB</a>), names in this space now trade at steep discounts against peers like Alphabet Inc. and even Amazon.com Inc.. While discounted stocks might not look attractive to some investors based on their price action, others recognize the value to be had in them.
This is why stocks like Alibaba Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>), Baidu Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bidu#NASDAQ">BIDU</a>), and the overall iShares MSCI China ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mchi#NASDAQ">MCHI</a>) have delivered shareholders a significant rally this week, one of the best performances since the few months after the COVID-19 pandemic. Retail investors can also feel a bit safer because some of Wall Street&#39;s favorite investors have also given these companies a chance to make billions.
<h2>Chinese Government Interventions Improve the Risk-Reward Balance for Investors</h2>
Recently, the Federal Reserve (the Fed) in the United States decided to lower interest rates by half a percent, or 50 basis points. The Chinese economy has been criticized long enough for its slowdown and contractions, so the government has also decided to cut rates by the same amount.
The difference is that the Chinese ETF trades at only 47% of the high prices it made in early 2021, while the technology-focused NASDAQ 100 index trades at 96% of its 52-week high now. This means that the potential reward is much bigger in China than the pullback the U.S. technology space could make after these runs.
Stanley Druckenmiller decided to sell out of NVIDIA Co. after realizing the potential upside was no longer that attractive; it is no surprise to see his former mentor and boss George Soros initiate a&nbsp;$73.4 million position in Alibaba.
As lower rates start to spread through the Chinese economy, the consumer discretionary sector and rate-dependent technology companies will probably see the benefits first, so they have become the top choice for other mega investors as well.
<h2>Who&#39;s Buying Chinese Stocks Now and What They&#39;re Adding to Their Portfolios</h2>
Some investors would recognize him for predicting the 2008 financial crisis, but Michael Burry has now made Alibaba his top holding. After buying it for the better part of 2024, Burry&#39;s portfolio is now reported to hold up to 155,000 shares valued at roughly $14.8 million today.
The trend doesn&#39;t end there for Burry, as he also chose Baidu as his fourth-largest position, with 75,000 shares valued at approximately $9 million. Coming right after Baidu, Burry chose JD.com Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jd#NASDAQ">JD</a>) to be his fifth-largest position, with 250,000 shares carrying a value of $8.3 million today.
Those names are the common choice among investors today. David Tepper has recently deviated from his typical picks in the financial and technology sector to pick on Chinese stocks. For Tepper, his fund bought up to 10,500,000 shares for an approximate value of just over $1 billion in the portfolio.
Considering that Alibaba trades at less than a third of the $316 a share high it made after COVID-19, it makes sense for these investors to look at the potential risk-to-reward ratios and decide if it is worth taking a risk on Chinese stocks.
<h2>Wall Street&#39;s Latest Take on Alibaba and Baidu: Key Insights for Investors</h2>
Starting with Alibaba, analysts now justify a consensus price target of $107.6 a share on the stock, calling for 12.7% upside from where it trades today. However, those at Susquehanna decided to go above and beyond the consensus and place a $130 valuation on Alibaba, implying it could run by a much bigger 35.4% from today&#39;s price.
When it comes to Baidu, the stock trades at only 68% of its 52-week high to offer enough potential upside to consider it. This is why analysts at Citigroup see a potential case for the stock to trade as high as $155 a share, daring the stock to stage a massive 64.8% rally from where it has traded down to today.
Here are other insights for investors to consider: Alibaba&#39;s main competitor could be assumed to be Amazon, which is why the Chinese giant&#39;s 25.1x P/E ratio means a significant discount to Amazon&#39;s 46.0x valuation today. For Baidu, competition can only arguably be found in shares of Google.
Baidu&#39;s 12.4x P/E valuation would also offer investors a steep discount compared to Google&#39;s valuation of 23.3x P/E today, despite a recent selloff in that stock. When it comes to upside and diminished risk, investors all over are finding Chinese stocks to be the winners; maybe retail investors should, too.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/chinese-tech-stocks-rally-whats-behind-it-and-next-steps/">China&#39;s Tech Stocks Surge: What Top Investors Know That You Don&#39;t</a>&quot; first appeared on MarketBeat.

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China's Tech Stocks Surge: What Top Investors Know That You Don't

Financial giants have made a conspicuous bullish move on Home Depot. Our analysis of options history for Home Depot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) revealed 17 unusual trades.
Delving into the details, we found 47% of traders were bullish, while 23% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $1,485,855, and 7 were calls, valued at $844,034.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $240.0 to $420.0 for Home Depot over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Home Depot's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Home Depot's whale activity within a strike price range from $240.0 to $420.0 in the last 30 days. 
<h3>Home Depot 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727464652_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</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 style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HD</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$38.35</td>
<td>$36.45</td>
<td>$36.45</td>
<td>$400.00</td>
<td>$911.2K</td>
<td>49</td>
<td style="text-align: right;">250</td>
</tr>
<tr>
<td>HD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$23.5</td>
<td>$21.5</td>
<td>$23.5</td>
<td>$380.00</td>
<td>$453.5K</td>
<td>814</td>
<td style="text-align: right;">13</td>
</tr>
<tr>
<td>HD</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$170.0</td>
<td>$165.0</td>
<td>$167.5</td>
<td>$240.00</td>
<td>$167.5K</td>
<td>124</td>
<td style="text-align: right;">10</td>
</tr>
<tr>
<td>HD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/25/24</td>
<td>$8.85</td>
<td>$7.35</td>
<td>$8.12</td>
<td>$400.00</td>
<td>$97.4K</td>
<td>1.0K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>HD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$6.7</td>
<td>$6.3</td>
<td>$6.3</td>
<td>$355.00</td>
<td>$94.5K</td>
<td>62</td>
<td style="text-align: right;">150</td>
</tr>
</tbody>
</table>

<h3>About Home Depot</h3>
Home Depot is the world's largest home improvement specialty retailer, operating more than 2,300 warehouse-format stores offering more than 30,000 products in store and 1 million products online in the US, Canada, and Mexico. Its stores offer numerous building materials, home improvement products, lawn and garden products, and decor products and provide various services, including home improvement installation services and tool and equipment rentals. The acquisition of Interline Brands in 2015 allowed Home Depot to enter the MRO business, which has been expanded through the tie-up with HD Supply (2020). The additions of the Company Store brought textiles to the lineup, and Redi Carpet added multifamily flooring, while the recent tie-up with SRS will help grow professional demand.
Following our analysis of the options activities associated with Home Depot, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Home Depot</h3>
<ul>
<li>Currently trading with a volume of 1,357,020, the HD's price is up by 0.8%, now at $399.86. </li>
<li>RSI readings suggest the stock is currently may be overbought.</li>
<li>Anticipated earnings release is in 46 days.</li>
</ul>
<h3>Expert Opinions on Home Depot</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $394.0.
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; Reflecting concerns, an analyst from Melius Research lowers its rating to Buy with a new price target of $420. 
&#x2A; Maintaining their stance, an analyst from Telsey Advisory Group continues to hold a Market Perform rating for Home Depot, targeting a price of $360. 
&#x2A; An analyst from Loop Capital has decided to maintain their Hold rating on Home Depot, which currently sits at a price target of $360. 
&#x2A; An analyst from DA Davidson persists with their Buy rating on Home Depot, maintaining a target price of $430. 
&#x2A; Consistent in their evaluation, an analyst from Oppenheimer keeps a Perform rating on Home Depot with a target price of $400. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Home Depot with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Home Depot's Options: A Look at What the Big Money is Thinking

Deep-pocketed investors have adopted a bearish approach towards ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</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 COP usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for ConocoPhillips. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 57% bearish. Among these notable options, 4 are puts, totaling $169,201, and 10 are calls, amounting to $950,940.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $90.0 to $115.0 for ConocoPhillips over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for ConocoPhillips's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across ConocoPhillips's significant trades, within a strike price range of $90.0 to $115.0, over the past month.
<h3>ConocoPhillips 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727464647_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>COP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/04/24</td>
<td>$6.65</td>
<td>$6.6</td>
<td>$6.65</td>
<td>$97.00</td>
<td>$232.7K</td>
<td style="text-align: right;">350</td>
<td style="text-align: right;">350</td>
</tr>
<tr>
<td>COP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/01/24</td>
<td>$2.71</td>
<td>$2.51</td>
<td>$2.63</td>
<td>$106.00</td>
<td>$191.7K</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">729</td>
</tr>
<tr>
<td>COP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$7.85</td>
<td>$7.8</td>
<td>$7.8</td>
<td>$100.00</td>
<td>$158.3K</td>
<td style="text-align: right;">64</td>
<td style="text-align: right;">308</td>
</tr>
<tr>
<td>COP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$7.85</td>
<td>$7.8</td>
<td>$7.8</td>
<td>$100.00</td>
<td>$74.8K</td>
<td style="text-align: right;">64</td>
<td style="text-align: right;">498</td>
</tr>
<tr>
<td>COP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$5.25</td>
<td>$5.05</td>
<td>$5.05</td>
<td>$100.00</td>
<td>$65.6K</td>
<td style="text-align: right;">226</td>
<td style="text-align: right;">243</td>
</tr>
</tbody>
</table>

<h3>About ConocoPhillips</h3>
ConocoPhillips is a US-based independent exploration and production firm. In 2023, it produced 1.2 million barrels per day of oil and natural gas liquids and 3.1 billion cubic feet per day of natural gas, primarily from Alaska and the Lower 48 in the United States and Norway in Europe and several countries in Asia-Pacific and the Middle East. Proven reserves at year-end 2023 were 6.8 billion barrels of oil equivalent.
Following our analysis of the options activities associated with ConocoPhillips, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of ConocoPhillips</h3>
<ul>
<li>Currently trading with a volume of 3,140,217, the COP's price is up by 1.96%, now at $104.32. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 34 days.</li>
</ul>
<h3>Expert Opinions on ConocoPhillips</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $137.6.
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; An analyst from UBS has decided to maintain their Buy rating on ConocoPhillips, which currently sits at a price target of $140. 
&#x2A; An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $140. 
&#x2A; An analyst from Wells Fargo persists with their Overweight rating on ConocoPhillips, maintaining a target price of $132. 
&#x2A; An analyst from Mizuho has decided to maintain their Neutral rating on ConocoPhillips, which currently sits at a price target of $129. 
&#x2A; An analyst from Susquehanna persists with their Positive rating on ConocoPhillips, maintaining a target price of $147. 
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 ConocoPhillips options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Spotlight on ConocoPhillips: Analyzing the Surge in Options Activity

Whales with a lot of money to spend have taken a noticeably bullish stance on Charter Communications.
Looking at options history for Charter Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 64% of the investors opened trades with bullish expectations and 17% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $186,140 and 12, calls, for a total amount of $1,170,868.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $220.0 and $440.0 for Charter Communications, spanning the last 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 Charter Communications's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Charter Communications's significant trades, within a strike price range of $220.0 to $440.0, over the past month.
<h3>Charter Communications Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727464642_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 style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CHTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$102.0</td>
<td>$99.0</td>
<td>$100.5</td>
<td>$300.00</td>
<td>$376.2K</td>
<td style="text-align: right;">561</td>
<td style="text-align: right;">85</td>
</tr>
<tr>
<td>CHTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/15/27</td>
<td>$104.6</td>
<td>$99.0</td>
<td>$102.0</td>
<td>$300.00</td>
<td>$234.6K</td>
<td style="text-align: right;">561</td>
<td style="text-align: right;">33</td>
</tr>
<tr>
<td>CHTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/15/27</td>
<td>$104.3</td>
<td>$99.0</td>
<td>$102.0</td>
<td>$300.00</td>
<td>$153.0K</td>
<td style="text-align: right;">561</td>
<td style="text-align: right;">48</td>
</tr>
<tr>
<td>CHTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$91.9</td>
<td>$89.7</td>
<td>$91.9</td>
<td>$260.00</td>
<td>$64.3K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">7</td>
</tr>
<tr>
<td>CHTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/19/25</td>
<td>$130.4</td>
<td>$126.0</td>
<td>$127.9</td>
<td>$220.00</td>
<td>$63.9K</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
</tr>
</tbody>
</table>

<h3>About Charter Communications</h3>
Charter is the product of the 2016 merger of three cable companies, each with a decades-long history in the business: Legacy Charter, Time Warner Cable, and Bright House Networks. The firm now holds networks capable of providing television, internet access, and phone services to roughly 58 million US homes and businesses, around 40% of the country. Across this footprint, Charter serves 30 million residential and 2 million commercial customer accounts under the Spectrum brand, making it the second-largest US cable company behind Comcast. The firm also owns, in whole or in part, sports and news networks, including Spectrum SportsNet (long-term local rights to Los Angeles Lakers games), SportsNet LA (Los Angeles Dodgers), SportsNet New York (New York Mets), and Spectrum News NY1.
In light of the recent options history for Charter Communications, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Charter Communications Standing Right Now?</h3>
<ul>
<li>With a volume of 835,046, the price of CHTR is up 3.32% at $327.55. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 28 days.</li>
</ul>
<h3>What Analysts Are Saying About Charter Communications</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 $347.5.
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; In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $345. 
&#x2A; An analyst from Citigroup has elevated its stance to Neutral, setting a new price target at $350. 
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 Charter Communications options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

CHTR

Behind the Scenes of Charter Communications's Latest Options Trends

Cryptocurrency markets are finishing the week on a high, with Bitcoin peaking past $66,000 in midday trading.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>&nbsp;$65,934</td>
<td>&nbsp;+1.1%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>&nbsp;$2,705</td>
<td>&nbsp;+1.9%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>&nbsp;$158.59</td>
<td>&nbsp;+1.3%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>&nbsp;$0.1246</td>
<td>&nbsp;+5.3%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>&nbsp;$0.00002052</td>
<td>&nbsp;+10.9%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics: 
<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 3.7% and daily active addresses rising by 1.3% for Bitcoin.</li>
<li>According to Coinglass data, 63,487 traders liquidated in the past 24 hours for $139.18 million, with $85 million being short liquidations.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41067814/bitcoin-pushes-above-65k-but-what-does-technical-analysis-say">Bitcoin Pushes Above $65K But What Does Technical Analysis Say?</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41070034/bitcoin-smashes-through-66-000-as-etfs-take-in-365m-to-extend-their-inflow-streak-to-6-str">Bitcoin Smashes Through $66,000 As ETFs Take In $365M To Extend Their Inflow Streak To 6 Straight Days</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41070497/bitcoin-could-sail-to-70k-on-the-tailwinds-of-stablecoin-minting-chinese-stimulus-renewed-">Bitcoin Could Sail To $70K On The Tailwinds Of Stablecoin Minting, Chinese Stimulus, Renewed Altcoin Activity: 10x Research</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41072097/viral-baby-hippo-moo-deng-steals-spotlight-from-dogecoin-shiba-inu-this-trader-made-392-00">Viral Baby Hippo Moo Deng Steals Spotlight From Dogecoin, Shiba Inu: This Trader Made $392,000 With Over 1,000X Meme Coin Return</a></li>
</ul>
Top Gainers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Notcoin (CRYPTO: NOT)</td>
<td>&nbsp;$0.01048</td>
<td>&nbsp;&nbsp;+21.9%</td>
</tr>
<tr>
<td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td>
<td>&nbsp;$0.00002302</td>
<td>&nbsp;+12.2%</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>&nbsp;$0.00001062</td>
<td>&nbsp;+12.1%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: Analyst Benjamin Cowen <a href="https://x.com/intocryptoverse/status/1839704950059766012">sees</a> ETH moving up to its bull market support band, which would constitute a move to the $2,900s. 
Altcoin Psycho feels emboldened by the recent uptrend, <a href="https://x.com/AltcoinPsycho/status/1839692748363895218">saying</a> it is time to &#8220;play offense.&#8221; he has bought several undisclosed altcoins and will &#8220;check back&#8221; in 4 to 8 weeks.
Trader Tyrogue <a href="https://x.com/TyrogueD/status/1762876624826249595">implies</a> that retail investors will soon get interested in meme coins again due to the unit bias. He thinks they will wonder &#8220;what if this coin went to $1?&#8221; and buy accordingly.
Smileycapital thinks several fundamental factors are aligning for crypto to go higher:
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#8211; Seasonally &amp; cyclically most bullish quarters + year ahead &#8211; Risk beta has significant catch up room to major stocks &#8211; USA entered easing cycle &#8211; USA elections &#8211; China stimulating economy &#8211; Japan plans on doing the same^ &#8211; Gen Y &amp; Gen-Z desperate to hypergamble their way out <a href="https://t.co/2w089oRAAJ">pic.twitter.com/2w089oRAAJ</a>
&mdash; &#x1f642; (@smileycapital) <a href="https://twitter.com/smileycapital/status/1839686338339045845?ref_src=twsrc%5Etfw">September 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
 Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41066762/if-you-invested-1000-in-bitcoin-dogecoin-and-shiba-inu-exactly-a-year-ago-this-crypto-woul">If You Invested $1000 In Bitcoin, Dogecoin, And Shiba Inu Exactly A Year Ago, This Crypto Would Give You The Best Returns Today</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BONK

$BTC

$DOGE

$ETH

$PEPE

$SHIB

$SOL

Bitcoin, Ethereum, Dogecoin Close Out Strong Week On A High: 'Play Offense,' Says Bullish Trader

Israeli Military Says In The Past Hour Fighter Jets Have Attacked Hezbollah Targets In Lebanon Including Weapons Launchers And Weapons Storage

Senior Israeli Official Says Israel Hopes Not To Have To Proceed With Ground Invasion In Lebanon, But Will Not Rule It Out

UBS analyst Kevin Mcveigh maintains Accenture (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) with a Buy and raises the price target from $400 to $415.

UBS Maintains Buy on Accenture, Raises Price Target to $415

Fission Uranium (OTC: <a class="ticker" href="https://www.benzinga.com/stock/fcuuf#OTC">FCUUF</a>) has completed the hearing before the Supreme Court of British Columbia regarding the approval of the final order for its acquisition by Paladin Energy Limited. The hearing began before the Court on Sept. 13, 2024, and ended on Sept. 26. Its decision on the final order is expected in the coming weeks.
Fission&#39;s acquisition by Paladin Energy, however, remains opposed by CGN Mining Company Limited (&quot;CGN&quot;), which holds an 11.26% stake in Fission. CGN is a subsidiary of China General Nuclear Power Corp.
Fission&#39;s shareholders voted in favor of the acquisition at the special meeting held on Sept. 9, 2024. The closure of the acquisition currently remains subject to receipt of the final order and clearance under the Investment Canada Act, as well as other customary conditions.
<h2>Fission Uranium-Paladin Energy Merger Overview</h2>
Fission Uranium inked the deal with the Australian miner, Paladin Energy , in June 2024. Per the agreement, Paladin Energy would acquire FCUUF&#39;s outstanding shares for an implied total equity value of C$1.14 billion ($0.846 billion).
The acquisition, if successful, will create a company with a pro forma market capitalization of $3.5 billion. It will be placed among the largest pure-play global uranium companies with a combined mineral resource of 544 million pounds of uranium and ore reserves of 157 million. It will have a solid portfolio of exploration, development and production assets, and a substantially increased international capital markets exposure.
Fission Uranium&#39;s shareholders will receive 0.1076 fully paid shares of Paladin Energy for each share held in FCUUF. On completion, existing Paladin Energy and Fission Uranium shareholders will own around 76% and 24% of the combined entity, respectively.
Paladin Energy has applied for the listing of its shares on the Toronto Stock Exchange concurrent with the completion of the transaction. Consequently, Fission Uranium shareholders will receive TSX-listed Paladin Energy shares.
<h2>FCUUF Buyout to Strengthen Paladin Energy&#39;s Uranium Portfolio</h2>
Paladin Energy is an independent uranium producer with 75% ownership of the world-class long-life Langer Heinrich Mine located in Namibia. It also owns a portfolio of uranium exploration and development assets in Canada and Australia.&nbsp; Through its Langer Heinrich Mine, it delivers uranium to major nuclear utilities across the world. It has a 17-year estimated mine life and a nameplate annual capacity of 6 million pounds of uranium.
The acquisition of Fission Uranium will make Paladin Energy the 100% owner of the Patterson Lake South uranium property. It is a proposed high-grade uranium mine and mill in Canada&#39;s Athabasca Basin region. The feasibility study for the property projects a 10-year mine life with an annual production of 9.1 million pounds of uranium.
This move will help Paladin Energy capitalize on the growing demand for uranium. Several factors are driving this demand, such as the need for more electricity generation and the global push to decarbonize electrical grids, among others.
Over the past few years, the global uranium market has undergone a shift from an inventory-driven to a production-driven market.&nbsp; Underinvestment in uranium mining operations over the past decade has been the reason for a structural deficit between global production and uranium requirements.&nbsp; In 2024 and 2025, the gap between production and demand is projected to be more than 66 million pounds of uranium. This gap is expected to reach more than 400 million pounds by 2034. Uranium prices will be supported by robust demand and tight supply.
<h2>Fission Uranium Stock&#39;s Price Performance</h2>
Shares of Fission Uranium have gained 11.1% in the past year compared with the industry&#39;s 37.7% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/8a/79511.jpg?v=1484847009" />
Image Source: Zacks Investment Research
<h2>FCCUF&#39;s Zacks Rank &amp; Stocks to Consider</h2>
Fission Uranium currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>), Eldorado Gold Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ego#NYSE">EGO</a>) and IAMGOLD Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iag#NYSE">IAG</a>). Each of these stocks sports a Zacks Rank #1 (Strong Buy) at present.
The Zacks Consensus Estimate for Carpenter Technology&#39;s fiscal 2025 earnings is pegged at $6.06 per share. The consensus estimate for earnings has moved 17% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 15.9%. CRS&#39; shares have gained 129% in a year.
The consensus estimate for Eldorado Gold&#39;s 2024 earnings is pegged at $1.32 per share. The consensus estimate for earnings has moved 16% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 430%. EGO&#39;s shares have gained 106% in a year.
The Zacks Consensus Estimate for IAMGOLD&#39;s 2024 earnings is pegged at 39 cents per share. The consensus estimate for earnings has moved 44% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 200%. IAG&#39;s shares have gained 160% in a year.
<a href="https://www.zacks.com/stock/news/2342763/fission-uranium-awaits-court-decision-on-acquisition-by-paladin-energy?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2342763">To read this article on Zacks.com click here.</a>

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FCUUF

Fission Uranium Awaits Court Decision on Acquisition by Paladin Energy

Senior Israeli Official Says Israel Is The Only Force Actively Fighting Iran And Its Proxies; Says That He Can't Say What Will Evolve, But That This Could Be A Pivot; Israel Doesn't Seek A Broader War; Says It's Too Early To Say If Israeli Strike Hit Nasrallah

The refinancing of debt and a raised credit rating by S&amp;P Global has AMC Entertainment Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) CEO Adam Aron increasingly optimistic than ever about the long-term outlook of the <a href="https://www.benzinga.com/topic/movie-theater-stocks">movie theater stock</a>.
What Happened: While speaking at the Variety Entertainment and Technology Summit Thursday, Aron shared the impact of the <a href="https://www.benzinga.com/general/entertainment/24/07/39915020/are-the-good-times-about-to-roll-at-amc-adam-aron-highlights-staggering-box-office-lineup-g">strong summer box office </a>and refinancing as key catalysts for the company.
"I'm a relieved human being," Aron <a href="https://variety.com/2024/film/news/amc-theatres-adam-aron-optimistic-upgrades-1236157370/">said </a>of the refinancing. "In July, we were able to announce that we'd worked agreements with 150 different lending institutions that will refinance most of our long-term debt and push our maturities."
Perhaps the &#8220;most important thing&#8221; AMC did was negotiate with lenders to refinance its debt again in 2026, &#8220;pushing it out further than 2030," Aron added.
The AMC CEO also referenced IMAX CEO Rich Gelfound in his keynote, saying the executive is "sure that Harry Houdini works at AMC," due to the company's magic-like ability to survive against the odds.
Read Also: <a href="https://www.benzinga.com/general/entertainment/24/05/39010959/amc-ceo-says-were-still-here-how-taylor-swift-popcorn-buckets-help-movie-theater-from-going">AMC CEO Says &#8216;We&#8217;re Still Here&#8217;: How Taylor Swift, Popcorn Buckets Help Movie Theater From Going &#8216;Kaplooey&#8217;</a>
Along with refinancing debt, Aron shared the impact that several strong box office blockbusters could have on future financials.
Box office earnings from June to September were more than double the previous five months. They went from $1.5 billion to $3.5 billion, Aron added.
Among the movies that helped were "Inside Out 2," "Despicable Me 4" and "Deadpool &amp; Wolverine."
"I can tell you with such confidence that the combination of resolving our balance sheet with a rising box office means rising profitability," Aron said.
Aron said the movie industry has been playing defense in recent years. It has had to fight off the COVID-19 pandemic impact plus Hollywood labor strikes.
"We get to play on offense again."
Price Action: AMC stock is up 1% to $4.58 on Friday versus a 52-week trading range of $2.38 to $11.88. AMC stock is down 25% year-to-date, as seen on the<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092724&amp;t=be2bearmibe3na1"> Benzinga Pro chart</a> below. The stock has fallen over 90% in the last five years.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092724&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="999" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27142256/Screenshot-195.png" alt="" class="wp-image-570501" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27142256/Screenshot-195.png 999w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27142256/Screenshot-195-300x149.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/27142256/Screenshot-195-768x381.png 768w" sizes="(max-width: 999px) 100vw, 999px" /></a></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/07/40080474/after-taylor-swift-and-beyonc-now-usher-goes-to-amc-will-shareholders-say-yeah-or-be-caught">Taylor Swift And Beyoncé, Now Usher Go To AMC: Will Shareholders Say &#8216;Yeah&#8217; Or Be &#8216;Caught Up&#8217; In Stock Drop?</a></li>
</ul>
Image: Shutterstock

Entertainment

AMC Survival Against Challenging Sector Brings Magic Comparison: 'Harry Houdini Works At AMC'

U.S. State Department Approves Possible Sale Of Advanced Anti-Radiation Guided Missiles-Extended Range And Related Equipment To Australia For An Estimated Cost Of $405M

On Thursday, the FDA approved&nbsp;Bristol Myers Squibb&nbsp;&amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;Cobenfy (xanomeline and trospium chloride, KarXT), an oral medication for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/41064867/schizophrenia-treatment-revolution-fda-approves-bristol-myers-squibb-cobenfy-as-new-class-of-trea" rel="noreferrer noopener">schizophrenia in adults</a>.
BMO Capital analyst notes that the FDA approval without a boxed warning is a significant positive for Bristol Myers shares.
The analyst notes that given that many prior antipsychotic medications received black box warnings due to increased mortality risks, particularly in elderly patients, Cobenfy&#8217;s absence of such a warning could significantly enhance its potential in treating Alzheimer&#8217;s related-psychosis, pending further clinical trials.
BMO projects peak sales of $2.4 billion for Cobenfy in schizophrenia and $3.9 billion in Alzheimer&#8217;s related-psychosis, raising the price target to $53 from $48, with a <a target="_blank" href="https://www.benzinga.com/quote/BMY/analyst-ratings" rel="noreferrer noopener">Market Perform rating</a>.
The analyst notes that Cobenfy will be priced at $1,850 for a 30-day supply or $22,500/year, representing a discount to previous expectations.
Truist Securities highlights that AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) is also advancing emraclidine as a treatment for schizophrenia and Alzheimer&#8217;s disease-related psychosis.
According to Truist analysts, emraclidine differs from KarXT in its mechanism of action.
Despite emerging competition, Truist points out that KarXT holds a first-mover advantage and is ahead by at least two to three years.
Truist maintains the Buy rating and a price target of $62.
William Blair projects peak U.S. sales for Cobenfy to reach approximately $2 billion by 2030, driven solely by its use in treating schizophrenia.
However, if the drug is approved for additional indications, such as Alzheimer-related psychosis and adjunctive schizophrenia—both currently in Phase 3 trials—annual sales could rise to around $3 billion to $5 billion, pending positive results.
The analyst points out that although the label lacks a black box warning, it does include caution for urinary retention, elevated heart rate, reduced gastric motility, and angioedema.
Price Action: BMY stock is up 2.33% at $51.29&nbsp;at the last check on Friday.
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Absence of Black Box Warning For Bristol Myers' Schizophrenia Treatment Could Enhance Alzheimer's Psychosis Potential

Cassava Sciences ( ($SAVA) ) has issued an announcement. Cassava Sciences, Inc., a biotech firm dedicated to Alzheimer's treatment, has appointed R...

Cassava Sciences Announces New CEO and Governance Changes

Cassava Sciences inks consulting pact with ex-CEO Remi Barbier

Cassava Sciences' on-going late stage trials for Alzheimer's treatment gets DSMB nod

Why I'm Avoiding Cassava Stock For Now

Cassava's Simufilam: Safe On The Outside, Scrambled On The Inside

Biggest stock movers Friday: BB, BMY, and more

Cassava settles SEC charges related to Alzheimer's candidate for $40M

The latest update is out from Cassava Sciences ( ($SAVA) ). Cassava Sciences has settled with the SEC over allegations of misleading statements rel...

Cassava Sciences Settles SEC Dispute, Focuses on Alzheimer's Trials

Biggest stock movers Friday: HPQ, BB, BMY, and more

Catalyst Watch: Tesla deliveries, Nike earnings, port strike threat and the jobs report

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Cassava Sciences Announces Changes in Executive Leadership, Enhanced Corporate Governance and Other Initiatives

MAIA Biotechnology (MAIA) is one of the earliest pioneers of telomere targeting as a therapeutic strategy

Cassava Sciences Announces Expansion of Open-Label Extension Trials

Cassava Sciences to Hold Conference Call to Discuss Recent Developments and Provide a Company Update on Thursday, August 8, 2024 at 8:30 am ET

Cassava Sciences Mourns the Death of Board Member Sanford "Sandy" Robertson

Cassava Sciences Reports Q2 2024  Financial Results and Operational Updates

Cassava Sciences to Present at the H.C. Wainwright Global Investment Conference

Cassava Sciences Names Rick Barry as Chief Executive Officer

Cassava Sciences Announces Completion of an Interim Safety Review of Oral Simufilam On-going Phase 3 Trials

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