The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0540 ET - U.S. stocks linked to cryptocurrencies continue to rise premarket, spurred higher by a surge in bitcoin and ethereum. Investors are increasingly confident in the regulatory outlook for crypto in the U.S., even if the crypto-friendly Clarity Act doesn't pass, Bernstein analyst Gautam Chhugani writes. "The industry expects accelerated rule making for supporting native crypto tokens, tokenized equities, perpetual futures" and other crypto-related activities, Chhugani says. Bitcoin trades up 6.6% at $77,794.84, while ethereum adds 2.7% at $2,389.07. Bitcoin-hoarder Strategy jumps 9.3% premarket, on pace to rise by over 30% since market close Tuesday. Crypto exchanges also gain, with Coinbase and Hyperliquid Strategies rising 6.2% and 3.2%, respectively. Robinhood Markets adds 5.1%.(josephmichael.stonor@wsj.com)
0337 ET - Straumann is facing several risks that could weigh on market sentiment and lead to a period of share-price consolidation, Deutsche Bank's Falko Friedrichs writes in a note. These include persistent high inflation and high interest rates--both of which could weigh on customer demand--and a potential slowdown in China. Additionally, the unexpected CEO transition--which happened shortly after the Swiss dental-implant company provided its new medium-term strategy--could also weigh on sentiment, Friedrichs says. The German bank downgrades its rating on the stock to hold from buy and cuts its target price to 99 Swiss francs from 119 francs. Shares are down 4% at 92.2 francs. (najat.kantouar@wsj.com)
0228 ET - UltraGreen.ai's growth outlook is clouded by new competition, DBS Group Research's Amanda Tan says in a research report. Zydus Lifesciences can launch its generic indocyanine green product following approval by the U.S. Food and Drug Administration, the analyst notes. Provepharm has already launched its 'Zyogreen' product in the U.K. and is targeting further geographic expansion in the U.S., the analyst notes. The entry of two rivals suggests barriers to entry into indocyanine green products which UltraGreen.ai manufactures are less prohibitive than previously assumed. DBS downgrades the stock's rating to hold from buy and lowers its target price to $0.80 from $1.95. Shares are 7.4% lower at $0.69.