Today's noteworthy initiations include: AMAG Pharmaceuticals (AMAG) initiated with a Buy at Guggenheim... AMD (AMD) initiated with an Outperform at Northland... Adobe (ADBE) initiated with a Hold at Wunderlich... Arcadia Biosciences (RKDA) initiated with an Outperform at Credit Suisse... CST Brands (CST) initiated with an Outperform at Macquarie... CVS Health (CVS) initiated with an Outperform at Macquarie... Casey's General Stores (CASY) initiated with an Outperform at Macquarie... Check Point (CHKP) initiated with a Buy at Wunderlich... Corium (CORI) initiated with a Buy at Guggenheim... Costco (COST) initiated with a Neutral at Macquarie... Dollar General (DG) initiated with an Outperform at Macquarie... Eclipse Resources (ECR) initiated with a Buy at Topeka... Ensign Group (ENSG) initiated with a Buy at SunTrust... FS Investment (FSIC) initiated with an Overweight at Barclays... FireEye (FEYE) initiated with a Buy at Wunderlich... Fortinet (FTNT) initiated with a Buy at Wunderlich... Fortress Transportation (FTAI) initiated with a Buy at Citi... GNC Holdings (GNC) initiated with an Outperform at Macquarie... Hortonworks (HDP) initiated with a Buy at Wunderlich... Hospitality Properties (HPT) initiated with a Buy at Brean Capital... Imperva (IMPV) initiated with a Buy at Wunderlich... Insmed (INSM) initiated with a Neutral at Citi... Intra-Cellular (ITCI) initiated with a Buy at Guggenheim... Intrexon (XON) initiated with a Buy at Wunderlich... KYTHERA (KYTH) initiated with a Buy at Guggenheim... Kroger (KR) initiated with a Neutral at Macquarie... LifeLock (LOCK) initiated with a Buy at Wunderlich... Microsoft (MSFT) initiated with a Hold at Wunderlich... MobileIron (MOBL) initiated with a Buy at Wunderlich... Murphy USA (MUSA) initiated with an Outperform at Macquarie... New Residential (NRZ) initiated with an Overweight at Barclays... Novavax (NVAX) initiated with a Buy at Guggenheim... Opower (OPWR) initiated with a Buy at Wunderlich... Oracle (ORCL) initiated with a Hold at Wunderlich... Palo Alto (PANW) initiated with a Hold at Wunderlich... Proofpoint (PFPT) initiated with a Buy at Wunderlich... Qualys (QLYS) initiated with a Buy at Wunderlich... Regulus (RGLS) initiated with a Buy at Guggenheim... Salesforce (CRM) initiated with a Buy at Wunderlich... ServiceNow (NOW) initiated with a Buy at MKM Partners... Smart & Final Stores (SFS) initiated with an Outperform at Macquarie... Sprouts Farmers Markets (SFM) initiated with an Outperform at Macquarie... Stonegate Bank (SGBK) initiated with a Hold at Sandler O'Neill... Supernus (SUPN) initiated with a Buy at Guggenheim... Supervalu (SVU) initiated with a Neutral at Guggenheim... Symantec (SYMC) initiated with a Hold at Wunderlich... Sysco (SYY) initiated with an Outperform at Macquarie... Tableau (DATA) initiated with a Buy at Wunderlich... Target (TGT) initiated with an Outperform at Macquarie... The Fresh Market (TFM) initiated with an Outperform at Macquarie... TherapeuticsMD (TXMD) initiated with a Buy at Guggenheim... Uranium Energy (UEC) assumed with a Buy at H.C. Wainwright... Vitamin Shoppe (VSI) initiated with a Neutral at Macquarie... Wal-Mart (WMT) initiated with a Neutral at Macquarie... Walgreens Boots Alliance (WBA) initiated with an Outperform at Macquarie... Whole Foods (WFM) initiated with a Neutral at Macquarie... Workday (WDAY) initiated with a Hold at Wunderlich.

Baird analyst Joel Beatty raised the firm's price target on Intra-Cellular to $103 from $83 and keeps an Outperform rating on the shares. The firm increased its price target after successful topline ph3 results for Caplyta in major depressive disorder (MDD) as they view the efficacy as at or above investor expectations, and safety as generally in line with expectations.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Intra-Cellular Therapies announced that it has commenced an underwritten public offering of $500M of shares of its common stock. J.P. Morgan, Leerink Partners, BofA Securities, Morgan Stanley and RBC Capital Markets are acting as joint book-running managers for the offering.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Morgan Stanley notes that Salesforce (CRM) management has advised investors that strategic M&A would be coming back into the company's toolkit at some point and recent press speculation about the company being in advanced talks to buy Informatica (INFA) suggests the company "may be ready to break the ice." While any significant M&A brings execution risks and "increased angst from investors still harboring memories of prior expensive deals," the analyst says a rumored transaction with Informatica, if it were to be confirmed and the deal were to be struck around a $12B enterprise value, looks to meet Salesforce's "criteria for responsible M&A." The firm, which sees potential for a complementary expansion that further buttresses the capabilities of Mulesoft and Data Cloud, has an Overweight rating and $350 price target on Salesforce shares.

Intra-Cellular Therapies announced positive topline results from Study 501 evaluating lumateperone 42 mg as an adjunctive therapy to antidepressants for the treatment of major depressive disorder. Topline results from our second Phase 3 study, Study 502, are anticipated late in the second quarter of this year. "The positive Phase 3 results in MDD represent a significant step towards our goal of further establishing CAPLYTA as a first-choice treatment across mood disorders," said Dr. Sharon Mates, Chairman and CEO of Intra-Cellular Therapies. "We believe that these robust efficacy results coupled with its favorable safety and tolerability profile and convenient dosing make CAPLYTA a compelling option as an adjunctive treatment for MDD, if approved. At ITCI, we are committed to bringing improved treatment options to patients with major neuropsychiatric conditions through our efforts to expand CAPLYTA's label and advance our pipeline." Lumateperone 42 mg given once daily as adjunctive therapy to antidepressants met the primary endpoint in Study 501 by demonstrating a statistically significant and clinically meaningful reduction in the MADRS total score compared to placebo at Week 6. In the modified intent-to-treat study population, the least squares mean reduction from baseline for lumateperone 42 mg was 14.7 points, versus 9.8 points for placebo. Lumateperone 42 mg also met the key secondary endpoint in the study by demonstrating a statistically significant and clinically meaningful reduction in the CGI-S score compared to placebo at Week 6. Statistically significant efficacy was seen at the earliest time point tested and maintained throughout the study in both the primary and the key secondary endpoints.

Wells Fargo analyst Michael Turrin raised the firm's price target on ServiceNow to $900 from $875 and keeps an Overweight rating on the shares ahead of quarterly results. While feedback on Pro+ adoption remains early, the firm's checks pointed to solid renewal execution and continued progress outside of core ITSM, suggesting a solid 2024 start despite Q1s being seasonally lighter.

Wells Fargo analyst Edward Kelly upgraded Kroger to Overweight from Equal Weight with a price target of $65, up from $58.

HSBC last night upgraded AMD (AMD) to Buy from Hold with a price target of $225, up from $180. Given AMD's recent share price correction of 15% over the past month, market expectations for the company's MI300 2024 and 2025 revenue have been reset, the analyst tells investors in a research note. However, the firm thinks AMD has enough supply capacity and demand to surpass management's artificial intelligence revenue guidance. AMD's next-generation AI GPU is a more direct competitor to Nvidia (NVDA) GB200 in 2025, the analyst tells investors in a research note. HSBC sees an attractive risk/reward at current share levels.