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• Canaccord Reaffirms Buy: Canaccord Genuity maintained its Buy rating with a $124 price target, implying significant upside from depressed levels.
• Pulling Back From Highs: Zevra Therapeutics (NASDAQ: ZVRA) edged lower from near 52-week highs as investors digest a strong recent run.
• Strategic Restructuring: BioCryst (NASDAQ: BCRX) is closing its Birmingham Discovery Center and ending internal drug discovery programs.
• Underperforming the Sector: Merck (NYSE: MRK) edged lower as the healthcare sector traded near 52-week highs amid mixed macro sentiment.
• Skyrizi Eclipses Humira: Skyrizi hit $4.5 billion in Q1 2026 revenue, surpassing Humira's peak and easing the post-Humira transition.
• S&P 500's Best Quarter in Six Years Sets the Stage: The S&P 500's strongest quarterly performance since 2020 created an exceptionally favorable backdrop for financial infrastructure and data stocks.
• Twin Target Hikes: BofA Securities lifted its target to $36 from $25 (Neutral), while Canaccord Genuity raised its Buy-rated target to $40 from $32.
• FDA Flags Seven Peptides: FDA scientists raised safety questions about seven popular peptides, an overnight headwind for compounding-reliant telehealth.
• Medicare Obesity Coverage: A temporary Medicare move to cover obesity drugs like Wegovy broadens Novo Nordisk's addressable U.S. market.
• Manufacturers Set the Pace: Novo Nordisk (NYSE: NVO) and Eli Lilly (NYSE: LLY) anchor the obesity-drug market, driving demand and pricing across the chain.
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