A.P. Möller-Maersk's shares fell 1% to DKK 10,235 following UBS's downgrade from a buy recommendation to neutral, with the target price reduced from DKK 13,953 to DKK 11,000. UBS expressed concerns that its investment thesis no longer aligns with expectations, suggesting the company may be viewed as a value trap by investors in the near future.
14:13 17.10.2024
Sage Therapeutics is restructuring, cutting about one-third of its workforce, which amounts to approximately 165 employees, primarily in research. The company is also reprioritizing its drug pipeline following setbacks, including mixed results for its drug Zurzuvae and failures in trials for other neurological treatments. Sage aims to extend its operating runway while focusing on launching Zurzuvae, which has seen a gradual increase in prescriptions.
AbbVie has received FDA approval for Vyalev, a novel combination therapy for advanced Parkinson’s disease that delivers carbidopa and levodopa via a 24-hour infusion, addressing challenges with oral medications. This approval follows two previous rejections and is based on positive results from late-stage clinical trials. Patient access will vary by insurance, with Medicare coverage anticipated in late 2025, and AbbVie projects peak annual sales could exceed $1 billion.
P3 Health Partners Inc. (NASDAQ: PIII), a physician-led population health management company, will present at the LD Micro Main Event XVII Conference on October 30, 2024, at 2:30 pm ET in Los Angeles, CA. A live webcast of the presentation will be available on P3’s Investor Relations Website. With over 2,900 affiliated primary care providers, P3 is dedicated to enhancing patient care through value-based coordination and administrative support, ultimately improving outcomes and reducing costs across 18 counties in five states.
South Korea is exploring commercial satellite options for military communications due to budget constraints, while Poland is increasing space investments for security amid regional tensions. Nations like Senegal and Malaysia are developing their own space capabilities, emphasizing sovereignty and local expertise. France is also enhancing its space capabilities, contributing significantly to Europe's broadband constellation to ensure security and competitiveness.
At a recent event in Lugano, iCapital's Marco Bizzozero highlighted the significant growth of private market investments, now valued at $14 trillion, as companies delay going public. The discussion emphasized the need for investor education on the complexities and risks of these investments, particularly regarding manager selection and liquidity. Panelists noted generational differences in investment preferences, with younger investors favoring tech start-ups, while older generations lean towards familiar sectors.
UBS has raised its price target for Abbott to $146 from $143 while maintaining a Buy rating. The firm expresses confidence in Abbott's ability to achieve double-digit growth in its MedTech sales and high single-digit growth overall, highlighting the company's strong growth potential.
13:40 17.10.2024
UBS AG has maintained a "Neutral" rating for ABB (Asea Brown Boveri) shares, setting a target price of 50 francs. Analyst Andre Kukhnin noted a solid performance, with a 19 percent margin driven by strong electrification progress. As of 13:18, shares rose 3.1 percent to CHF 50.68, reflecting a 38.7 percent increase since the start of 2024, though still showing a potential downside of 1.34 percent relative to the target price. Q3 2024 results are anticipated on October 17, 2024.
13:34 17.10.2024
UBS has maintained a 'Buy' rating for Sanofi, setting a target price of 110 euros ahead of the company's quarterly results due on October 25. Analyst Jo Walton highlighted the importance of the ongoing success of Dupixent and the market acceptance of Beyfortus.
13:31 17.10.2024
ABB Ltd is a leading global designer and manufacturer of industrial capital goods, with a product breakdown of 67.2% in electrical transmission and distribution, 30.6% in automation systems, and 2.2% in other categories. Geographically, sales are distributed as follows: Europe (35.9%), the United States (25.6%), China (13.9%), Asia-Middle East-Africa (15.8%), and the Americas (8.8%).
13:29 17.10.2024
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