U.S. Stock Market Midday Update: Praxis Precision Medicines up 39.39%, driven by FDA meeting and positive research results

U.S. Stock Market Midday Update

Praxis Precision Medicines rose 39.39%. Based on recent key news:

1. On December 5, Praxis Precision Medicines announced the completion of the pre-NDA meeting with the FDA and received alignment from the regulatory agency. This news drove the stock price up, as the company achieved positive mid-term results in the EMBOLD study, showing strong efficacy signals that support the NDA submission.

2. On December 5, Needham maintained a buy rating on Praxis and raised the target price to $304. Analysts' confidence in the company's strategy and the positive results from the EMBOLD study further propelled the stock price increase.

3. On December 4, Barclays analyst Saket Kalia maintained a buy rating but lowered the target price from $25 to $23. Despite the target price reduction, analysts generally remain optimistic about the stock's long-term potential. The biotechnology sector has performed strongly recently, with significant capital inflows.

Stocks with High Trading Volume in the Industry

Precision Medicine fell 0.02%. Based on recent key news:

1. On December 2, the early cancer screening market for digestive tract cancers in China is rapidly growing, with policy support driving market expansion. With the release of the "Expert Consensus on Colorectal Cancer Screening for Community Residents in China," the penetration of molecular diagnostic technology in early colorectal cancer screening has increased, revealing market scale effects. This policy support may impact Precision Medicine's market performance.

2. On December 2, the project in Hanjing District adopted multi-gene methylation technology for blood tests for colorectal cancer, improving screening compliance and alleviating pressure on medical resources. This technological innovation provides potential for market expansion, and Precision Medicine may benefit from technological advancements.

3. On December 2, industry analysis pointed out that the early cancer screening market is at a turning point from technological validation to large-scale commercial application, with companies possessing core technologies gaining competitive advantages. Precision Medicine may achieve sustained competitiveness in this market. The early cancer screening market is entering a golden development period.

Capricor Therapeutics rose 7.33%. Based on recent key news:

1. On December 3, Capricor Therapeutics' cell therapy achieved its primary endpoint in late-stage trials, driving the stock price up. The therapy targets heart disease related to Duchenne muscular dystrophy, and trial results showed it effectively slows muscle degeneration and enhances heart function.

2. On December 4, analyst Joseph Pantginis raised the target price for Capricor Therapeutics from $24 to $60, maintaining a buy rating, further boosting market confidence.

3. On December 5, Capricor Therapeutics announced a public offering at a price of $25 per share, expecting to raise $150 million for product development and manufacturing, with the stock price rising in pre-market trading. The biotechnology sector has performed strongly recently, with significant capital inflows Amgen fell 0.41%, with increased trading volume. Based on recent key news:

4. On December 4, BMO Capital raised Amgen's target price from $335 to $372, maintaining an "Outperform" rating, indicating analysts' increased confidence in its biotechnology sector.

5. On December 4, Amgen reported strong revenue and sales growth driven by its six key product areas, including Repatha and TEZSPIRE, which are expected to continue through 2026 and beyond.

6. On December 3, Goldman Sachs reiterated its Buy rating on Amgen and set a target price of $400, anticipating key trial updates for its obesity drug MariTide. The biotechnology sector has recently performed strongly, with significant capital inflows.

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AbbVie fell 0.15%. Based on recent key news:

1. On December 2, AbbVie showcased its latest advancements in treating various blood cancers at ASH 2025, particularly breakthroughs in T-cell engagers, BCL-2 inhibitors, and antibody-drug conjugates. These data demonstrated significant efficacy signals but also highlighted safety concerns, such as neutropenia and infection risks. This news had a positive impact on the stock price.

2. On December 5, AbbVie's immunology business continued to perform strongly after losing patent protection for Humira, primarily driven by Skyrizi and Rinvoq. Sales of these two drugs grew by 53% year-over-year, reaching $18.5 billion, and are expected to exceed $31 billion by 2027. This growth expectation has bolstered market confidence.

3. On December 2, AbbVie announced a collaboration with Danish pharmaceutical company Gubra A/S to develop the anti-obesity compound GUB014295, entering the weight management market. This move demonstrates the company's strategic layout in expanding into new markets, further solidifying its long-term growth potential. Competition in the immunology field is intensifying and requires attention