Summit Therapeutics (SMMT) shares fell nearly 2% in intraday trading on Friday after HC Wainwright downgraded the stock to neutral from buy.
Trading volume stood at about 4.2 million shares, compared with a daily average of over 3.4 million.
Price: $17.15, Change: $-0.32, Percent Change: -1.83%
Gilead Sciences (GILD) has received approval from the US Food and Drug Administration for Hepcludex to treat chronic hepatitis delta virus infection in adults without advanced liver scarring, or with compensated cirrhosis, the FDA said Friday.The therapy is the first FDA-approved treatment for chronic HDV infection, a serious condition that can cause liver fibrosis, liver cancer, liver failure, and even death, the regulator said.The efficacy of Hepcludex was shown in a phase 3 trial, it said.Shares were up over 2% in afternoon trading.Price: $133.74, Change: $+3.24, Percent Change: +2.48%
Scilex Holding (SCLX) said Friday its board approved a dividend of Semnur Pharmaceuticals' common stock held by the company to its stockholders and certain eligible equity holders.The record date for the dividend is June 1, and the board will set the payment date within 60 days of that date.Holders as of the record date will receive one Semnur common share for each Scilex common share held, or for each share issuable upon exercise or conversion of eligible securities.Scilex said it holds 186 million Semnur shares and plans to distribute about 10.7 million under the approved ratio.The board may change the record date or revoke the dividend before payment if solvency or surplus conditions change, the company said.Scilex's Semnur stake dates back to a 2019 corporate transaction.Price: $6.07, Change: $+0.15, Percent Change: +2.45%
Dollar Tree (DLTR) is grappling with volatile trends as the retailer works to retain its appeal to budget-strained shoppers amid rising costs and mounting affordability pressures, UBS Securities said Thursday in a report.UBS said the market widely expects fiscal Q1 comparable sales at or below the bottom end of the company's 3% to 4% full-year comp outlook, making the current 3.6% consensus appear too optimistic.Dollar Tree will likely move its comparable-sales outlook to 1% to 3% for the year, which in turn would probably mean lowering its EPS forecast to $6.10 to $6.50 from the current $6.50 to $6.90 range, the report said.The company will also need to account for higher fuel and transportation costs alongside a softer sales outlook, UBS said. Q1 results are due Thursday.UBS lowered its price target on Dollar Tree stock to $132 from $138 and maintained its buy rating.Price: $94.71, Change: $-1.01, Percent Change: -1.05%