RIL gains 1% on partnership with SBI; buys additional stake in Genesis Colors

Share price of Reliance Industries added more than 1 percent in the early trade on Friday as company formed a partnership with SBI to offer digital banking and financial services to their customers.

Jio and SBI are entering into a digital partnership aimed to increase SBI��s digital customer base multi-fold, also the customers will benefit from Jio Prime, a consumer engagement and commerce platform from Reliance, company said in release.

Reliance Brands, a subsidiary of the company, has purchased an additional 2.36 percent equity stake in Genesis Colors (GCL) for about Rs 9.89 crore, taking its total stake in GCL to 11.65 percent.

No regulatory approvals were required for the said acquisition of shares.

The investment does not fall within related party transaction and none of RIL's promoter/ promoter group/ group companies have interest in GCL.

At 09:17 hrs Reliance Industries was quoting at Rs 1,181.20, up Rs 12.85, or 1.10 percent on the BSE.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Posted by Rakesh Patil First Published on Aug 3, 2018 09:35 am

-$0.59 Earnings Per Share Expected for argenx SE – (ARGX) This Quarter

Wall Street brokerages predict that argenx SE – (NASDAQ:ARGX) will report earnings per share (EPS) of ($0.59) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for argenx’s earnings, with estimates ranging from ($0.72) to ($0.52). The company is scheduled to issue its next earnings results before the market opens on Thursday, August 2nd.

According to Zacks, analysts expect that argenx will report full year earnings of ($2.62) per share for the current year, with EPS estimates ranging from ($2.90) to ($2.38). For the next year, analysts expect that the company will post earnings of ($3.61) per share, with EPS estimates ranging from ($4.16) to ($3.20). Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow argenx.

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A number of equities research analysts have issued reports on ARGX shares. Cowen reaffirmed a “buy” rating on shares of argenx in a research report on Wednesday, June 6th. Wedbush reaffirmed an “outperform” rating and set a $92.00 target price (down previously from $93.00) on shares of argenx in a research report on Thursday, May 10th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $130.00 target price on shares of argenx in a research report on Thursday, June 7th. JMP Securities upped their target price on argenx from $93.00 to $130.00 and gave the stock a “positive” rating in a research report on Monday, June 18th. Finally, SunTrust Banks started coverage on argenx in a research report on Sunday, April 8th. They set a “buy” rating and a $125.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. argenx presently has a consensus rating of “Buy” and a consensus target price of $122.83.

A number of institutional investors have recently made changes to their positions in ARGX. Aperio Group LLC bought a new stake in argenx during the first quarter worth approximately $268,000. US Bancorp DE bought a new stake in argenx during the first quarter worth approximately $598,000. BB Biotech AG bought a new stake in argenx during the first quarter worth approximately $31,920,000. Northern Trust Corp bought a new stake in shares of argenx in the first quarter valued at approximately $896,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of argenx in the first quarter valued at approximately $498,000. 53.14% of the stock is owned by hedge funds and other institutional investors.

argenx traded down $0.20, reaching $91.93, during trading hours on Thursday, MarketBeat.com reports. 72,300 shares of the company were exchanged, compared to its average volume of 145,418. The stock has a market capitalization of $2.92 billion, a P/E ratio of -65.66 and a beta of 2.44. argenx has a 12 month low of $19.81 and a 12 month high of $103.00.

About argenx

argenx SE, a clinical-stage biopharmaceutical company, focuses on developing antibody-based therapies for the treatment of autoimmune diseases and cancer. The company's lead product candidates include ARGX-113 that completed Phase 2 clinical trials for the treatment of autoimmune diseases, including myasthenia gravis, immune thrombocytopenia, and pemphigus vulgaris; and ARGX-110, which is in Phase 1/2 clinical trials for the treatment of T-cell lymphoma, acute myeloid leukemia, and myelodysplastic syndrome.

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Investors Buy Shares of Altria Group (MO) on Weakness

Investors bought shares of Altria Group Inc (NYSE:MO) on weakness during trading on Wednesday. $138.79 million flowed into the stock on the tick-up and $49.20 million flowed out of the stock on the tick-down, for a money net flow of $89.59 million into the stock. Of all companies tracked, Altria Group had the 6th highest net in-flow for the day. Altria Group traded down ($0.60) for the day and closed at $58.08

Several brokerages recently issued reports on MO. Zacks Investment Research lowered shares of Altria Group from a “hold” rating to a “sell” rating in a report on Monday, May 14th. ValuEngine lowered shares of Altria Group from a “hold” rating to a “sell” rating in a report on Monday, April 23rd. Consumer Edge assumed coverage on Altria Group in a research report on Monday, June 11th. They issued an “equal weight” rating and a $69.31 target price for the company. Jefferies Financial Group set a $70.00 target price on Altria Group and gave the company a “buy” rating in a research report on Friday, June 1st. Finally, Stifel Nicolaus dropped their target price on Altria Group from $78.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Altria Group presently has a consensus rating of “Buy” and an average price target of $71.61.

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The stock has a market capitalization of $110.19 billion, a P/E ratio of 17.22, a PEG ratio of 1.70 and a beta of 0.62. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.65 and a quick ratio of 0.31.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, July 26th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.01. Altria Group had a return on equity of 48.88% and a net margin of 42.00%. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. research analysts anticipate that Altria Group Inc will post 3.99 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 10th. Stockholders of record on Friday, June 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend was Thursday, June 14th. Altria Group’s dividend payout ratio is presently 82.84%.

Altria Group declared that its Board of Directors has approved a share buyback program on Thursday, May 17th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Several institutional investors have recently made changes to their positions in MO. Covington Capital Management boosted its holdings in Altria Group by 1.3% in the fourth quarter. Covington Capital Management now owns 60,403 shares of the company’s stock valued at $4,313,000 after purchasing an additional 803 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Altria Group by 2.7% in the fourth quarter. Sterling Capital Management LLC now owns 31,228 shares of the company’s stock valued at $2,230,000 after purchasing an additional 812 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Altria Group by 4.4% in the fourth quarter. Segall Bryant & Hamill LLC now owns 19,347 shares of the company’s stock valued at $1,382,000 after purchasing an additional 820 shares in the last quarter. Lido Advisors LLC boosted its holdings in Altria Group by 15.1% in the fourth quarter. Lido Advisors LLC now owns 6,275 shares of the company’s stock valued at $448,000 after purchasing an additional 825 shares in the last quarter. Finally, Wayne Hummer Investments L.L.C. boosted its holdings in Altria Group by 4.6% in the fourth quarter. Wayne Hummer Investments L.L.C. now owns 18,798 shares of the company’s stock valued at $1,342,000 after purchasing an additional 830 shares in the last quarter. 63.05% of the stock is owned by institutional investors and hedge funds.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.

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Louisiana State Employees Retirement System Has $1.72 Million Position in Brown & Brown, Inc. (

Louisiana State Employees Retirement System increased its stake in Brown & Brown, Inc. (NYSE:BRO) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,900 shares of the financial services provider’s stock after purchasing an additional 1,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Brown & Brown were worth $1,716,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rowland & Co. Investment Counsel ADV purchased a new position in Brown & Brown in the 2nd quarter worth about $183,000. SevenBridge Financial Group LLC increased its stake in Brown & Brown by 100.0% in the 1st quarter. SevenBridge Financial Group LLC now owns 6,654 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 3,327 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in Brown & Brown during the 4th quarter worth about $353,000. Jane Street Group LLC acquired a new stake in Brown & Brown during the 4th quarter worth about $358,000. Finally, Suntrust Banks Inc. acquired a new stake in Brown & Brown during the 1st quarter worth about $233,000. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

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BRO has been the subject of a number of research reports. Morgan Stanley raised their price objective on Brown & Brown from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 29th. Zacks Investment Research lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Wednesday, April 4th. ValuEngine lowered Brown & Brown from a “buy” rating to a “hold” rating in a research report on Thursday, March 29th. Citigroup raised their price objective on Brown & Brown from $25.00 to $26.00 and gave the stock a “sell” rating in a research report on Thursday, July 12th. Finally, Wells Fargo & Co set a $26.00 price objective on Brown & Brown and gave the stock a “hold” rating in a research report on Monday, April 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $26.80.

Shares of Brown & Brown opened at $29.67 on Friday, according to MarketBeat Ratings. Brown & Brown, Inc. has a one year low of $21.58 and a one year high of $29.78. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 2.39 and a beta of 0.69. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.03 and a quick ratio of 1.03.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Wednesday, August 8th will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, August 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.01%. Brown & Brown’s payout ratio is presently 31.25%.

Brown & Brown Profile

Brown & Brown, Inc markets and sells insurance products in the United States, England, Canada, Bermuda, and the Cayman Islands. Its Retail segment offers property insurance relating to physical damage to property and resultant interruption of business, or extra expense caused by fire, windstorm, or other perils; casualty insurance relating to legal liabilities, professional liability, cyber-liability, workers' compensation, and commercial and private passenger automobile coverages; fidelity and surety bonds; and life, accident, disability, health, hospitalization, medical, dental, and other ancillary insurance products, as well as risk management, loss control surveys and analysis, consultation, and claims processing services.

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AJ Wealth Strategies LLC Has $6.93 Million Holdings in Corcept Therapeutics Incorporated (CORT)

AJ Wealth Strategies LLC raised its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 113.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 441,103 shares of the biotechnology company’s stock after acquiring an additional 234,483 shares during the quarter. Corcept Therapeutics comprises approximately 1.4% of AJ Wealth Strategies LLC’s portfolio, making the stock its 14th biggest holding. AJ Wealth Strategies LLC owned approximately 0.38% of Corcept Therapeutics worth $6,934,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CORT. BlackRock Inc. grew its position in shares of Corcept Therapeutics by 13.2% during the 1st quarter. BlackRock Inc. now owns 12,905,164 shares of the biotechnology company’s stock valued at $212,288,000 after purchasing an additional 1,505,877 shares in the last quarter. Federated Investors Inc. PA grew its position in shares of Corcept Therapeutics by 0.5% during the 1st quarter. Federated Investors Inc. PA now owns 12,686,727 shares of the biotechnology company’s stock valued at $208,697,000 after purchasing an additional 62,715 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Corcept Therapeutics by 24.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,576,649 shares of the biotechnology company’s stock valued at $25,936,000 after purchasing an additional 306,691 shares in the last quarter. Northern Trust Corp grew its position in shares of Corcept Therapeutics by 0.5% during the 1st quarter. Northern Trust Corp now owns 1,116,603 shares of the biotechnology company’s stock valued at $18,368,000 after purchasing an additional 5,342 shares in the last quarter. Finally, Nexthera Capital LP purchased a new position in shares of Corcept Therapeutics during the 1st quarter valued at $17,193,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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Corcept Therapeutics traded down $0.39, hitting $13.22, during midday trading on Thursday, Marketbeat Ratings reports. The company had a trading volume of 2,865,100 shares, compared to its average volume of 1,574,573. Corcept Therapeutics Incorporated has a 52-week low of $11.88 and a 52-week high of $25.96. The firm has a market capitalization of $1.60 billion, a PE ratio of 30.07 and a beta of 1.93.

Corcept Therapeutics (NASDAQ:CORT) last announced its earnings results on Tuesday, May 8th. The biotechnology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Corcept Therapeutics had a net margin of 75.05% and a return on equity of 46.78%. The company had revenue of $57.66 million during the quarter, compared to analyst estimates of $58.18 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up 108.9% compared to the same quarter last year. equities analysts predict that Corcept Therapeutics Incorporated will post 0.73 earnings per share for the current fiscal year.

In related news, Director G Leonard Baker, Jr. sold 30,000 shares of the company’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $16.01, for a total value of $480,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert S. Fishman sold 8,000 shares of the company’s stock in a transaction on Friday, July 6th. The stock was sold at an average price of $15.09, for a total transaction of $120,720.00. Following the completion of the transaction, the insider now owns 8,000 shares of the company’s stock, valued at $120,720. The disclosure for this sale can be found here. Insiders sold 54,000 shares of company stock valued at $888,300 over the last quarter. 15.00% of the stock is owned by company insiders.

A number of research analysts have recently commented on CORT shares. Stifel Nicolaus lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a research report on Thursday, May 31st. Seaport Global Securities assumed coverage on shares of Corcept Therapeutics in a research report on Friday, April 13th. They set a “buy” rating and a $32.00 price target for the company. Zacks Investment Research upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Friday, April 27th. BidaskClub upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, April 20th. Finally, ValuEngine upgraded shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, May 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $26.20.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated, a pharmaceutical company, discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and psychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery, as well as develops CLIA-validated assay to measure FKBP5 gene expression.

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American Tower (AMT) Rating Lowered to Neutral at Guggenheim

American Tower (NYSE:AMT) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $135.00 target price on the real estate investment trust’s stock. Guggenheim’s target price would indicate a potential downside of 5.04% from the company’s previous close.

A number of other analysts have also recently commented on AMT. Citigroup cut their target price on shares of American Tower from $162.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, March 27th. Zacks Investment Research raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. Morgan Stanley cut their target price on shares of American Tower from $157.00 to $154.00 and set an “overweight” rating for the company in a research note on Thursday, May 31st. Finally, Wells Fargo & Co boosted their target price on shares of American Tower from $150.00 to $158.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $158.43.

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AMT stock opened at $142.17 on Monday. The stock has a market cap of $63.26 billion, a PE ratio of 22.28, a P/E/G ratio of 1.65 and a beta of 0.77. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.83 and a quick ratio of 0.83. American Tower has a 52 week low of $130.37 and a 52 week high of $155.28.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($1.05). The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. American Tower had a return on equity of 17.03% and a net margin of 17.51%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. equities analysts anticipate that American Tower will post 7.01 EPS for the current fiscal year.

In related news, Chairman James D. Taiclet, Jr. sold 43,843 shares of the business’s stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $142.66, for a total transaction of $6,254,642.38. Following the transaction, the chairman now directly owns 223,227 shares in the company, valued at $31,845,563.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 131,529 shares of company stock worth $18,287,354 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Broadleaf Partners LLC boosted its holdings in American Tower by 18.6% in the 2nd quarter. Broadleaf Partners LLC now owns 22,340 shares of the real estate investment trust’s stock valued at $3,221,000 after purchasing an additional 3,508 shares during the last quarter. Carderock Capital Management Inc. boosted its holdings in American Tower by 11.1% in the 2nd quarter. Carderock Capital Management Inc. now owns 5,221 shares of the real estate investment trust’s stock valued at $753,000 after purchasing an additional 522 shares during the last quarter. Wendell David Associates Inc. boosted its holdings in American Tower by 2.1% in the 2nd quarter. Wendell David Associates Inc. now owns 41,934 shares of the real estate investment trust’s stock valued at $6,046,000 after purchasing an additional 875 shares during the last quarter. Bristol Advisors LLC acquired a new position in American Tower in the 2nd quarter valued at about $1,254,000. Finally, Bank of Montreal Can boosted its holdings in American Tower by 14.3% in the 2nd quarter. Bank of Montreal Can now owns 694,163 shares of the real estate investment trust’s stock valued at $100,076,000 after purchasing an additional 86,949 shares during the last quarter. Hedge funds and other institutional investors own 92.12% of the company’s stock.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 160,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.

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Time to Welcome Another Marijuana Stock to the 100,000 Kilogram Club

In just three months and a day, the legal cannabis landscape will change forever. On Oct. 17, 2018, recreational marijuana will become legal for adults in Canada, making it the first industrialized country in the world to have approved adult use (and the second country overall, behind Uruguay).

As you might have rightly guessed, investors are champing at the bit to get a taste of the massive growth surge that awaits -- and so are the cannabis growers responsible for supplying the Canadian recreational market. We've witnessed no shortage of capacity expansion announcements, partnerships, and acquisitions since the beginning of the year as marijuana growers angle to gobble up as much market share as possible once the proverbial green flag waves.

Image source: Getty Images.

However, this rapid capacity expansion has led to a lot of fluidity in terms of production forecasts. Every attempt to quantify how much cannabis will be produced by Canadian domestic growers each year often proves obsolete within a matter of days. But one thing is certain: There will be no shortage of major players.

Introducing the biggest players in Canada's pot market

Four weeks ago, I took what's now an obsolete look at the Canadian cannabis industry and unearthed eight pot growers that are currently on track to produce in excess of 100,000 kilograms of cannabis-equivalent production each year. "Cannabis equivalent" refers to the fact that growers are producing cannabis alternatives, such as cannabis oils and concentrates, and not just dried cannabis. Below you'll see a now-updated list (as of July 12) of what each company expects to produce at full capacity -- or what I expect they'll produce, in the instance that they haven't offered peak production guidance.

Canopy Growth Corporation (NYSE:CGC): approximately 500,000 kg (author estimate) Aurora Cannabis (NASDAQOTH:ACBFF): 430,000 kg Aphria: 255,000 kg The Green Organic Dutchman: 195,000 kg MedReleaf: 140,000 kg OrganiGram Holdings: 113,000 kg Hydropothecary Corporation: 108,000 kg Emerald Health Therapeutics (NASDAQOTH:EMHTF): 100,000-plus kg (partial author estimate)

Even though these totals are up to date, they're still subject to near-term change. For instance, Aurora Cannabis is in the process of acquiring Ontario-based MedReleaf for $2.5 billion in an all-share deal. If completed, it would likely vault Aurora Cannabis to the top spot in terms of annual production at full capacity.

Image source: Getty Images.

Then there's Canopy Growth and Emerald Health Therapeutics, which haven't been entirely transparent about their peak annual production. Canopy Growth is working with 5.6 million square feet of capacity (2.4 million of which is currently licensed by Health Canada) that I anticipate could yield around 500,000 kg a year.

Meanwhile, Emerald Health Therapeutics' patnership with Village Farms International, known as Pure Sunfarms, is expected to yield 75,000 kg annually by 2020. Emerald Health's Metro Vancouver facility will span 500,000 square feet. And while there are no specific peak production estimates offered by the company, more than 25,000 kg from such a vast expanse of growing space seems almost assured, which would push the company to (or above) 100,000 kg.�

Say hello to the newest 100,000 kg member

Well, folks, there's yet another marijuana grower that's joined the ranks of Canada's major pot players: CannTrust Holdings (NASDAQOTH:CNTTF).

Near the end of June, CannTrust announced the official opening of its Niagara Perpetual Harvest Facility, which is a 450,000-square-foot hydroponic grow site. Hydroponics involves using a nutrient-rich solvent solution to grow cannabis plants, as opposed to growing plants in soil. The press release marking the occasion notes that the current output of the facility is estimated at 50,000 kg annually.

What's particularly interesting about this grow site is that it's the first to combine moving containerized benches with a perpetual harvesting system. This should allow for steady crop production and harvesting, as opposed to the potentially lumpy planting and harvesting cycle that many of its peers will contend with.

Image source: Getty Images.

But as you may rightly have guessed, CannTrust isn't done expanding. It's begun construction on the final phase of its Niagara expansion, which is fully funded, and will add 600,000 square feet when completed. This expansion is expected to "double CannTrust's annual capacity to in excess of 100,000 kilograms," per the release.

CannTrust President Brad Rogers said: "The size and scope of this facility is a testament of CannTrust's industry-leading achievements, and is setting new industry benchmarks for high-quality yields and reduced costs. Operating a facility of this scale, CannTrust is well positioned to meet the increased Canadian and global demand for cannabis."�

It's also worth pointing out that, as of its most recent quarter, CannTrust leaned on alternative cannabis products more so than any other marijuana stock. Over half the company's total sales (albeit, we're talking about a relatively small amount of sales) were derived from oils. Assuming CannTrust emphasizes product diversity and can keep its production costs low, it has a genuine chance to best its peers in terms of operating margin.

Though the aggregate production outlook remains fluid in Canada, one thing is for sure: The number of major players is growing, not shrinking.

Bellatrix Exploration (BXE) Price Target Cut to C$1.50

Bellatrix Exploration (TSE:BXE) (NYSE:BXE) had its price target dropped by analysts at Canaccord Genuity from C$1.75 to C$1.50 in a note issued to investors on Tuesday. Canaccord Genuity’s price objective suggests a potential upside of 16.28% from the company’s previous close.

Other analysts have also recently issued reports about the stock. TD Securities upped their price target on shares of Bellatrix Exploration from C$1.50 to C$1.75 in a research note on Wednesday, May 9th. National Bank Financial dropped their price target on shares of Bellatrix Exploration from C$2.75 to C$2.25 and set a “sector perform” rating on the stock in a research note on Wednesday, March 14th. Finally, Raymond James dropped their price target on shares of Bellatrix Exploration from C$1.50 to C$1.25 and set an “underperform” rating on the stock in a research note on Wednesday, April 4th. Four research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. The company presently has an average rating of “Sell” and an average price target of C$2.03.

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Shares of BXE stock opened at C$1.29 on Tuesday. Bellatrix Exploration has a 12 month low of C$1.24 and a 12 month high of C$3.84.

Bellatrix Exploration (TSE:BXE) (NYSE:BXE) last announced its quarterly earnings results on Tuesday, May 8th. The company reported C($0.26) EPS for the quarter, meeting the Zacks’ consensus estimate of C($0.26). The company had revenue of C$64.49 million for the quarter, compared to analysts’ expectations of C$60.67 million. Bellatrix Exploration had a negative net margin of 49.98% and a negative return on equity of 11.12%.

About Bellatrix Exploration

Bellatrix Exploration Ltd., an oil and gas company, engages in the acquisition, exploration, development, and production of oil and natural gas reserves in the provinces of Alberta, British Columbia, and Saskatchewan in Canada. It primarily focuses on developing its two core resource plays, the Cardium and the Spirit River in Western Canada.

Do Surprising Alzheimer's Disease Results Make Biogen Stock a Smart Buy Now?

Surprising only begins to describe the latest clinical study results announced by Biogen (NASDAQ:BIIB) and its partner, Japanese drugmaker Eisai (NASDAQOTH:ESALY). On July 5, the two companies reported positive topline results from a phase 2 clinical study of experimental Alzheimer's disease drug BAN2401 at 18 months.

What's especially notable about the latest results is that BAN2401 had failed to meet preestablished criteria for success in an analysis conducted 12 months into the study. Needless to say, at that point, there was considerable skepticism about the drug's prospects.

Now, though, the potential for BAN2401 to make a difference for Alzheimer's patients looks real. Biogen's share price soared nearly 20% the day after the results were announced, instantly turning around a dismal year-to-date performance. Does BAN2401's promise make Biogen stock a smart pick to buy now?��

Image source: Getty Images.

A really big deal

It could be tempting to write off the importance of these trial results. Many other drugs have looked promising in phase 2 studies, only to crash and burn in phase 3 testing. Is the�BAN2401 study really a big deal? Actually, yes.

There are competing schools of thought on what causes Alzheimer's disease. Most of the research efforts so far have focused on what's called the amyloid hypothesis. This hypothesis got its start -- and its name -- after scientists discovered that Alzheimer's disease sufferers had accumulated amyloid protein in their brains. The thinking is that these amyloid deposits cause the disease by interfering with communication between brain cells and ultimately causing brain cells to die.

However, so many drugs that focused on addressing amyloid buildup have failed to improve the symptoms of Alzheimer's disease that it has cast doubt on the hypothesis. Among the major pharmaceutical companies to have had such�amyloid-focused candidates flop are Eli Lilly, Merck, Johnson & Johnson, and Pfizer.

The latest results for BAN2401, however, showed improvement on two key fronts. First, the drug slowed progression in Alzheimer's disease by a statistically significant amount. Second, it reduced the amount of amyloid accumulated in the brains of patients by a statistically significant amount. These positive results were observed among patients taking the highest dose of the drug -- 10 mg/kg biweekly. Biogen and Easai noted that this dose began to achieve improvement in Alzheimer's disease progression at statistically significant levels as early as six months into treatment.��

Quotes from Alzheimer's disease experts underscored just how big of a deal this study was for BAN2401, and for the amyloid hypothesis more broadly. Dr. Jeff Cummings, director of Cleveland Clinic's Lou Ruvo Center for Brain Health, stated that the results were "impressive and provide important support for the amyloid hypothesis." Eisai's chief clinical officer and chief medical officer, Dr. Lynn Kramer, noted that the study "further validated the amyloid hypothesis." And Dr. Alfred Sandrock, Biogen's chief medical officer, said that the data "underscores that neurodegenerative diseases may not be as intractable as they once seemed."�

Rethinking Biogen's prospects

Biogen has three candidates in phase 3 clinical testing. Two of them, like BAN2401, target the treatment of Alzheimer's disease. And both, also like BAN2401, seek to reduce amyloid accumulation in the brain.

E2609, which Biogen is co-developing with Eisai, inhibits beta-secretase 1 (BACE1), an enzyme involved in the production of amyloid. Other BACE1 inhibitors targeting Alzheimer's disease haven't been successful. Most recently, Merck threw in the towel on verubecestat after the BACE1 inhibitor failed to achieve improvement in a phase 3 clinical study.

The more promising late-stage Alzheimer's disease drug for Biogen is aducanumab, which it is co-developing with Neurimmune Holding. Like BAN2401, aducanumab is an amyloid-beta monoclonal antibody that binds to amyloid proteins. Aducanumab ranked third on market research firm EvaluatePharma's list of top pipeline assets in the biopharmaceutical industry.�

GlobalData analyst Tom Moore thinks that BAN2401 could generate peak annual sales of more than $1 billion if it earns FDA approval.�Terence Flynn of Goldman Sachs projects peak annual revenue for aducanumab of $12 billion. To put these estimates into perspective, Biogen's total revenue in 2017 was a little under $12.3 billion.

Here's the bottom line: If Biogen is successful in Alzheimer's disease, the biotech stock should produce tremendous returns over the next several years. And the recent results for BAN2401 could mean that the company's chances of success look better than they've ever been.

Time to buy?

So is now the time to buy Biogen stock? Only if you're willing to take on an enormous level of risk.�

Remember, every word used to describe the potential for BAN2401 and aducanumab is tentative in nature. There's still a long way to go for both drug candidates. There is still a significant likelihood that either or both will ultimately fail to deliver -- just like most Alzheimer's disease candidates have failed to before.

At the same time, Biogen's flagship multiple sclerosis (MS) franchise faces stiff competition. Much of the biotech's revenue growth has been driven by its spinal muscular atrophy (SMA) drug, Spinraza, but sales acceleration will likely ease off for that drug. Also, AveXis, which was acquired by Novartis in April, has a gene therapy targeting SMA that could reach the market next year. That would be particularly bad news for Biogen.

Biogen is the kind of stock that could either be a big winner or a big loser, depending on the outcome of its clinical studies. In my view, it's more of a bet than an investment at this point. That could change, however, as more data becomes available about its pipeline candidates, especially aducanumab. My suggestion is to keep Biogen on your radar, but hold off on any action for now.

Reviewing Kona Grill (KONA) & Yum! Brands (YUM)

Kona Grill (NASDAQ: KONA) and Yum! Brands (NYSE:YUM) are both retail/wholesale companies, but which is the superior business? We will compare the two businesses based on the strength of their earnings, analyst recommendations, risk, institutional ownership, valuation, dividends and profitability.

Profitability

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This table compares Kona Grill and Yum! Brands’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
Kona Grill	-12.80%	-94.61%	-11.63%
Yum! Brands	25.60%	-17.70%	21.14%

Dividends

Yum! Brands pays an annual dividend of $1.44 per share and has a dividend yield of 1.8%. Kona Grill does not pay a dividend. Yum! Brands pays out 48.6% of its earnings in the form of a dividend.

Risk & Volatility

Kona Grill has a beta of 0.26, suggesting that its stock price is 74% less volatile than the S&P 500. Comparatively, Yum! Brands has a beta of 0.86, suggesting that its stock price is 14% less volatile than the S&P 500.

Institutional & Insider Ownership

13.5% of Kona Grill shares are owned by institutional investors. Comparatively, 74.1% of Yum! Brands shares are owned by institutional investors. 31.5% of Kona Grill shares are owned by company insiders. Comparatively, 0.6% of Yum! Brands shares are owned by company insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock will outperform the market over the long term.

Valuation & Earnings

This table compares Kona Grill and Yum! Brands’ revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
Kona Grill	$179.08 million	0.19	-$23.43 million	N/A	N/A
Yum! Brands	$5.88 billion	4.28	$1.34 billion	$2.96	26.30

Yum! Brands has higher revenue and earnings than Kona Grill.

Analyst Ratings

This is a breakdown of recent recommendations for Kona Grill and Yum! Brands, as reported by MarketBeat.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
Kona Grill	0	2	1	0	2.33
Yum! Brands	0	10	13	0	2.57

Kona Grill currently has a consensus target price of $3.75, indicating a potential upside of 50.00%. Yum! Brands has a consensus target price of $85.68, indicating a potential upside of 10.08%. Given Kona Grill’s higher probable upside, equities analysts clearly believe Kona Grill is more favorable than Yum! Brands.

Summary

Yum! Brands beats Kona Grill on 11 of the 14 factors compared between the two stocks.

Kona Grill Company Profile

Kona Grill, Inc. owns and operates upscale casual restaurants under the Kona Grill brand name. As of December 31, 2017, it owned and operated 46 restaurants in 23 states of the United States and Puerto Rico; and 3 franchised restaurants in Mexico, the United Arab Emirates, and Canada. The company is based in Scottsdale, Arizona.

Yum! Brands Company Profile

YUM! Brands, Inc., together with its subsidiaries, develops, operates, and franchises quick service restaurants worldwide. It operates in three segments: the KFC Division, the Pizza Hut Division, and the Taco Bell Division. The company operates restaurants under the KFC, Pizza Hut, and Taco Bell brands, which specialize in chicken, pizza, and Mexican-style food categories. As of December 31, 2017, it had 21,487 KFC units; 16,748 Pizza Hut units; and 6,849 Taco Bell units. The company was formerly known as TRICON Global Restaurants, Inc. and changed its name to YUM! Brands, Inc. in May 2002. YUM! Brands, Inc. was founded in 1997 and is headquartered in Louisville, Kentucky.

Miracle Mile Advisors LLC Boosts Position in Microsoft Co. (MSFT)

Miracle Mile Advisors LLC lifted its position in shares of Microsoft Co. (NASDAQ:MSFT) by 127.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,683 shares of the software giant’s stock after acquiring an additional 17,731 shares during the period. Miracle Mile Advisors LLC’s holdings in Microsoft were worth $2,892,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mitchell Sinkler & Starr PA grew its stake in Microsoft by 9.0% during the 4th quarter. Mitchell Sinkler & Starr PA now owns 6,990 shares of the software giant’s stock worth $598,000 after buying an additional 580 shares during the last quarter. Searle & CO. grew its stake in Microsoft by 1.8% during the 4th quarter. Searle & CO. now owns 34,161 shares of the software giant’s stock worth $2,922,000 after buying an additional 589 shares during the last quarter. Lehman Financial Resources Inc. grew its stake in Microsoft by 18.7% during the 4th quarter. Lehman Financial Resources Inc. now owns 3,750 shares of the software giant’s stock worth $320,000 after buying an additional 590 shares during the last quarter. Fagan Associates Inc. grew its stake in Microsoft by 0.6% during the 4th quarter. Fagan Associates Inc. now owns 94,714 shares of the software giant’s stock worth $8,102,000 after buying an additional 594 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its stake in Microsoft by 1.8% during the 4th quarter. Clear Harbor Asset Management LLC now owns 33,732 shares of the software giant’s stock worth $2,885,000 after buying an additional 600 shares during the last quarter. 72.27% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Microsoft opened at $100.41 on Friday, Marketbeat.com reports. The company has a quick ratio of 3.35, a current ratio of 3.40 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $778.76 billion, a PE ratio of 30.34, a PEG ratio of 2.21 and a beta of 1.04. Microsoft Co. has a fifty-two week low of $68.02 and a fifty-two week high of $102.69.

Microsoft (NASDAQ:MSFT) last announced its quarterly earnings data on Thursday, April 26th. The software giant reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The business had revenue of $26.82 billion during the quarter, compared to analyst estimates of $25.78 billion. Microsoft had a return on equity of 36.49% and a net margin of 13.72%. The company’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. equities analysts anticipate that Microsoft Co. will post 3.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 13th. Stockholders of record on Thursday, August 16th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, August 15th. This represents a $1.68 annualized dividend and a dividend yield of 1.67%. Microsoft’s dividend payout ratio (DPR) is 50.76%.

MSFT has been the subject of a number of recent research reports. Vetr upgraded Microsoft from a “hold” rating to a “buy” rating and set a $97.68 price objective for the company in a research note on Thursday, March 1st. Zacks Investment Research downgraded Microsoft from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Deutsche Bank set a $120.00 price objective on Microsoft and gave the stock a “buy” rating in a research note on Monday, March 12th. William Blair restated a “buy” rating on shares of Microsoft in a research note on Wednesday, March 21st. Finally, Morgan Stanley upped their price objective on Microsoft from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, March 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $105.49.

In other news, Director Sandra E. Peterson acquired 5,400 shares of the business’s stock in a transaction dated Tuesday, June 5th. The stock was acquired at an average price of $101.96 per share, for a total transaction of $550,584.00. Following the completion of the acquisition, the director now directly owns 5,400 shares in the company, valued at approximately $550,584. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christopher C. Capossela sold 10,000 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $100.99, for a total value of $1,009,900.00. Following the completion of the sale, the executive vice president now owns 158,601 shares of the company’s stock, valued at approximately $16,017,114.99. The disclosure for this sale can be found here. Corporate insiders own 1.49% of the company’s stock.

About Microsoft

Microsoft Corporation develops, licenses, and supports software products, services, and devices worldwide. The company's Productivity and Business Processes segment offers Office 365 commercial products and services for businesses, including Office, Exchange, SharePoint, Skype for Business, and related Client Access Licenses (CALs); Office 365 consumer services, such as Skype, Outlook.com, and OneDrive; Dynamics business solutions, such as financial management, enterprise resource planning, customer relationship management, supply chain management, and analytics applications for small and mid-size businesses, large organizations, and divisions of enterprises; and LinkedIn online professional network.

Worst Month Ever in Italian Bonds Leaves Confidence in Tatters

Italian bonds may have bounced off this week’s stunning losses, but some of the biggest investors say the worst isn’t over.

While the nation’s benchmark yields had biggest monthly jump in May since records began in 1993, they are “still pretty low” for Andrew Balls, chief investment officer for global fixed income at Pacific Investment Management Co. The firm has had an underweight position on Italy’s debt, he said, as political and market uncertainties persist.

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“Anyone who’s got a clear idea on Italy over the next couple of years are a lot smarter than we are,” Balls said in a Bloomberg Television interview. “I haven’t got more gray hair over the weekend because in times of great uncertainty you can just try and watch from the sidelines.”

The political upheaval in Rome that brought the euro’s very existence into question saw the spreads between Italian and German bond yields to surge beyond 300 basis points on Tuesday, the widest since 2013. It has retreated to about 250 since then.

Still, “it is too early to conclude that the worst has passed,” Martin van Vliet, a strategist at ING Groep NV said in emailed comments. Analysts including van Vliet have come up with a range of potential scenarios on the spread may move, corresponding to how the Italian risks evolve, over the next six to 12 months, according to an ING note to clients published this week.

The “most benign” outcome could contain the yield gap in the upper half of a 100-200 basis point range, while a “muddling through scenario” that seems most likely may see it settle in the 200-300 basis point band, they predictBut things could get a lot worse. An “escalation” of the situation could lead to a sovereign downgrade for Italy and see foreign investors cut their holdings of the nation’s bonds. In such a case, the yield differential will probably shoot up to 500 basis points, according to INGThe low-probability, worst-case scenario where “markets increasingly discount an Italian exit from the euro zone” could send the spread as high as 1000 basis points

— With assistance by Francine Lacqua

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Best Clean Energy Stocks To Buy Right Now

tags:EHTH,CHUY,IBB,MOSY, &l;p&g;&l;img class=&q;dam-image bloomberg size-large wp-image-41903517&q; src=&q;https://specials-images.forbesimg.com/dam/imageserve/41903517/960x0.jpg?fit=scale&q; data-height=&q;1390&q; data-width=&q;960&q;&g; A rainbow arcs over wind turbines at a wind farm in Scotland. Mike Wilkinson/Bloomberg

As the amount of renewable energy in global electricity networks continues to surge, a new question arises &a;ndash; when will renewables become the dominant source of energy?

A new report, the &l;a href=&q;https://www.lr.org/techradar&q; target=&q;_blank&q;&g;Lloyd&a;rsquo;s Register 2018 Technology Radar&l;/a&g;, examines this issue and also looks at which technologies are likely to have the biggest impact in different countries and what are the key drivers and barriers to success.

A survey of 800 key industry figures found that China would be the first country to achieve grid parity, in 2022, followed by Spain and the United Arab Emirates two years later in 2024. This is the same year that Germany and the UK are expected to see grid parity for wind power, followed a year later by Denmark and the USA. The International Renewable Energy Agency (IRENA) &l;a href=&q;http://www.irena.org/newsroom/pressreleases/2018/Jan/Onshore-Wind-Power-Now-as-Affordable-as-Any-Other-Source&q; target=&q;_blank&q;&g;said recently&l;/a&g; that clean energy sources will be cheaper than fossil fuels by 2020.

Best Clean Energy Stocks To Buy Right Now: eHealth Inc.(EHTH)

Advisors' Opinion:

• [By Lisa Levin]

  Shares of eHealth, Inc. (NASDAQ: EHTH) got a boost, shooting up 19 percent to $19.04 as the company posted upbeat Q1 results.

  SVB Financial Group (NASDAQ: SIVB) shares were also up, gaining 17 percent to $301.12 following strong quarterly results.

• [By Lisa Levin] Gainers Genprex, Inc. (NASDAQ: GNPX) jumped 46.7 percent to $16.1331. The low-float small-cap clinical stage gene therapy company saw its stock rally nearly 150 percent from Monday through Thursday. Formal news hasn't been announced this week that would support a triple-digit percentage rally (including more than 200 percent at one point on Thursday) but the quiet period following its initial public offering will expire on May 8. Celyad SA (NASDAQ: CYAD) shares gained 24.7 percent to $36.17. Celyad reported the publication of THINK study case report of CYAD-01 Induced Complete Remission in relapsed/refractory AML patient in haematologica. DMC Global Inc. (NASDAQ: BOOM) shares jumped 23.2 percent to $39.00 after the company reported upbeat Q1 results and issued upbeat Q2 guidance. eHealth, Inc. (NASDAQ: EHTH) gained 21.8 percent to $19.58 as the company posted upbeat Q1 results. Enova International, Inc. (NYSE: ENVA) climbed 20.4 percent to $27.20 following Q1 results. SVB Financial Group (NASDAQ: SIVB) shares jumped 18.2 percent to $304.135 following strong quarterly results. Knowles Corporation (NYSE: KN) gained 13.9 percent to $12.70 as the company reported Q1 results. Zymeworks Inc. (NYSE: ZYME) gained 13.8 percent to $17.36. Cocrystal Pharma, Inc. (NASDAQ: COCP) rose 11.8 percent to $2.336 after declining 25.09 percent on Thursday. ImmunoGen, Inc. (NASDAQ: IMGN) shares surged 11.7 percent to $11.75 after the company announced 'successful completion of interim analysis' for FORWARD I Phase 3 mirvetuximab soravtansine trial. Eloxx Pharmaceuticals, Inc. (NASDAQ: ELOX) gained 9.5 percent to $12.70. Expedia Group, Inc. (NASDAQ: EXPE) shares rose 8.5 percent to $115.3801 after the company reported stronger-than-expected earnings for its first quarter on Thursday. Sprint Corporation (NYSE: S) shares rose 8.3 percent to $6.50. The stock moved higher after a Reuters report suggested ongoing merger talks with T-M
• [By Lisa Levin]

  Shares of eHealth, Inc. (NASDAQ: EHTH) got a boost, shooting up 16 percent to $18.64 as the company posted upbeat Q1 results.

  Enova International, Inc. (NYSE: ENVA) shares were also up, gaining 25 percent to $28.35 following Q1 results.

Best Clean Energy Stocks To Buy Right Now: Chuy's Holdings, Inc.(CHUY)

Advisors' Opinion:

• [By Joseph Griffin]

  Chuy’s (NASDAQ:CHUY) had its price target hoisted by BMO Capital Markets from $27.00 to $28.00 in a report published on Wednesday, Marketbeat.com reports. The firm currently has a hold rating on the restaurant operator’s stock.

• [By Motley Fool Staff]

  Chuy's Holdings (NASDAQ:CHUY) Q1 2018 Earnings Conference CallMay. 8, 2018 4:30 p.m. ET

  Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

  Operator

• [By Dustin Parrett]

  Here are the top restaurant stocks we've found, with one-year price targets showing gains as high as 74%…

  Restaurant Stocks to Buy, No. 1: Chuy's Holdings Inc. (Nasdaq: CHUY)

  Chuy's Holdings Inc. (Nasdaq: CHUY) is a Texas-based chain of casual Tex-Mex restaurants.

Best Clean Energy Stocks To Buy Right Now: iShares Nasdaq Biotechnology Index Fund(IBB)

Advisors' Opinion:

• [By Jim Crumly]

  Biotech stocks had a big day, with the�iShares NASDAQ Biotechnology ETF (NASDAQ:IBB) jumping 2.8%. The broad technology sector slipped, and the�Technology Select Sector SPDR ETF (NYSEMKT:XLK)�lost 0.1%.

• [By Benzinga News Desk]

  After eking out a modest gain in the week ended April 27, the iShares NASDAQ Biotechnology Index (ETF) (NASDAQ: IBB) pulled back this week amid some not-so-encouraging earnings reports and negative regulatory decisions: Link

• [By ]

  October was not kind to the biggest names in biotech. While smaller, more speculative biotech names consolidated, the big kids fell off a cliff. The biotech slide accelerated midway through the month, with both the large-cap iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) and the smaller SPDR S&P Biotech ETF slipping more than 5%.

• [By ]

  The SPDR S&P Biotech ETF (NYSE:XBI) �� a good measure of small-cap biotech stocks �� gained almost 6% yesterday. Meanwhile, the large-cap iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) jumped almost 4%. The biotech buying frenzy helped lift the Nasdaq Composite to a gain of almost 1% in Monday��s session.

• [By Brian Feroldi, Keith Speights, and Sean Williams]

  The iShares Nasdaq Biotechnology ETF (NASDAQ:IBB)�-- which is an exchange-traded fund that holds nearly 200 biotech stocks -- has drastically underperformed the S&P 500 over the last three years. That fact suggests that there are bargains to be found in the biotech space.

Best Clean Energy Stocks To Buy Right Now: MoSys, Inc.(MOSY)

Advisors' Opinion:

• [By Money Morning Staff Reports]

  That's why today we'll show you one of our expert recommendations along with the 10 top-performing penny stocks to watch this week…

  Penny Stocks Current Share Price
  (as of Feb. 20) Feb. 12-20 Gain
  (as of Feb. 20) POET Technologies Inc. (OTCMKTS: POETF) $0.4165 85.1% Finjan Holdings Inc. (Nasdaq: FNJN) $2.94 67.05% Intelsat SA (NYSE: I) $3.50 38.89% Genesis Healthcare Inc. (NYSE: GEN) $1.39 37.62% Paringa Resources Ltd. (OTCMKTS: PNGZF) $0.41 32.30% CytoDyn Inc. (OTCMKTS: CYDY) $0.76 31.03% Iconix Brand Group Inc. (Nasdaq: ICON) $1.65 30.95% AMERI Holdings Inc. (Nasdaq: AMRH) $2.49 29.69% Pangea Logistics Solutions Ltd. (Nasdaq: PANL) $2.87 26.99% MoSys Inc. (Nasdaq: MOSY) $1.47 25.68%

  FREE PROFIT ALERTS: Get real-time recommendations on the best penny stock opportunities the moment we release them. Just sign up here, it's completely free…

• [By Lisa Levin] Gainers MoSys, Inc. (NASDAQ: MOSY) shares rose 44.7 percent to $2.20 in pre-market trading after the company reported better-than-expected Q1 results and issued strong Q2 forecast. The Trade Desk, Inc. (NASDAQ: TTD) rose 23.2 percent to $65.01 in pre-market trading after the company reported upbeat results for its first quarter. The company also issued strong second-quarter and FY18 sales guidance. Immersion Corporation (NASDAQ: IMMR) rose 17 percent to $13.55 in pre-market trading after reporting upbeat Q1 results. Akcea Therapeutics, Inc. (NASDAQ: AKCA) rose 13.8 percent to $23.50 in pre-market trading after the company disclosed that the FDA Advisory Committee voted in favor of WAYLIVRA for the treatment of familial chylomicronemia syndrome. RXi Pharmaceuticals Corporation (NASDAQ: RXII) rose 9.4 percent to $2.45 in pre-market trading after the company disclosed a collaboration with Iovance Biotherapeutics. ViewRay, Inc. (NASDAQ: VRAY) rose 13.7 percent to $8.80 in pre-market trading after reporting upbeat quarterly earnings. ForeScout Technologies, Inc. (NASDAQ: FSCT) rose 5.6 percent to $32.00 in pre-market trading after falling 2.26 percent on Thursday. Net 1 UEPS Technologies, Inc. (NASDAQ: UEPS) shares rose 5.6 percent to $9.30 in pre-market trading after reporting Q3 results. Aflac Incorporated (NYSE: AFL) rose 4.7 percent to $47.50 in pre-market trading. Clean Energy Fuels Corp. (NASDAQ: CLNE) rose 4.2 percent to $2.24 in pre-market trading following Q1 earnings. Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) shares rose 3.7 percent to $11.00 in pre-market trading after the company reported Q1 earnings.

  Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

• [By Lisa Levin]

  MoSys, Inc. (NASDAQ: MOSY) shares were also up, gaining 27 percent to $1.9265 after the company reported better-than-expected Q1 results and issued strong Q2 forecast.

KBC Group NV Sells 142,313 Shares of Principal Financial Group Inc (PFG)

KBC Group NV lowered its position in shares of Principal Financial Group Inc (NYSE:PFG) by 41.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 201,808 shares of the financial services provider’s stock after selling 142,313 shares during the period. KBC Group NV’s holdings in Principal Financial Group were worth $12,292,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board grew its position in shares of Principal Financial Group by 3.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 25,804 shares of the financial services provider’s stock worth $1,821,000 after acquiring an additional 900 shares during the last quarter. Goelzer Investment Management Inc. grew its position in shares of Principal Financial Group by 0.5% during the fourth quarter. Goelzer Investment Management Inc. now owns 184,495 shares of the financial services provider’s stock worth $13,018,000 after acquiring an additional 957 shares during the last quarter. Citizens Financial Group Inc RI grew its position in shares of Principal Financial Group by 0.7% during the fourth quarter. Citizens Financial Group Inc RI now owns 157,190 shares of the financial services provider’s stock worth $11,092,000 after acquiring an additional 1,020 shares during the last quarter. Everence Capital Management Inc. grew its position in shares of Principal Financial Group by 16.8% during the fourth quarter. Everence Capital Management Inc. now owns 7,591 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Advisor Group Inc. grew its position in shares of Principal Financial Group by 2.6% during the fourth quarter. Advisor Group Inc. now owns 45,893 shares of the financial services provider’s stock worth $3,239,000 after acquiring an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

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In related news, insider Luis E. Valdes sold 27,662 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $64.02, for a total value of $1,770,921.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

PFG stock opened at $58.57 on Friday. Principal Financial Group Inc has a fifty-two week low of $54.89 and a fifty-two week high of $75.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, April 26th. The financial services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.05. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $3.54 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter in the prior year, the company posted $1.27 earnings per share. research analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

Principal Financial Group announced that its Board of Directors has authorized a share buyback plan on Monday, May 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Monday, June 4th will be issued a $0.52 dividend. The ex-dividend date is Friday, June 1st. This represents a $2.08 annualized dividend and a yield of 3.55%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.51.

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and set a $70.00 price target for the company in a research report on Monday, February 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $76.00 price target on shares of Principal Financial Group in a research report on Wednesday, January 31st. Barclays upgraded shares of Principal Financial Group from an “equal weight” rating to an “overweight” rating and set a $72.00 price target for the company in a research report on Monday, February 12th. Wells Fargo & Co set a $66.00 price target on shares of Principal Financial Group and gave the stock a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley reduced their price objective on shares of Principal Financial Group from $77.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, April 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Principal Financial Group currently has an average rating of “Hold” and an average target price of $71.00.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Sunesis Pharmaceuticals (SNSS) Earning Somewhat Favorable Media Coverage, Report Shows

News articles about Sunesis Pharmaceuticals (NASDAQ:SNSS) have been trending somewhat positive on Thursday, according to Accern Sentiment. The research group identifies positive and negative media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Sunesis Pharmaceuticals earned a news impact score of 0.14 on Accern’s scale. Accern also assigned news headlines about the biopharmaceutical company an impact score of 47.0694587803928 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

Several research firms have weighed in on SNSS. Cantor Fitzgerald reiterated a “hold” rating and set a $4.00 price target on shares of Sunesis Pharmaceuticals in a research note on Thursday, March 8th. ValuEngine downgraded Sunesis Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded Sunesis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Finally, Cowen reiterated a “hold” rating on shares of Sunesis Pharmaceuticals in a research note on Tuesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $4.12.

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Sunesis Pharmaceuticals traded up $0.05, hitting $2.51, during trading hours on Thursday, Marketbeat Ratings reports. 202 shares of the stock traded hands, compared to its average volume of 79,787. The company has a market cap of $95.55 million, a PE ratio of -1.73 and a beta of 1.79. Sunesis Pharmaceuticals has a 1 year low of $1.82 and a 1 year high of $7.69.

Sunesis Pharmaceuticals (NASDAQ:SNSS) last posted its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The firm had revenue of $0.24 million for the quarter. analysts expect that Sunesis Pharmaceuticals will post -0.97 EPS for the current fiscal year.

Sunesis Pharmaceuticals Company Profile

Sunesis Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of oncology therapeutics for the treatment of solid and hematologic cancers. Its lead program is vecabrutinib, a non-covalently binding inhibitor of Bruton's tyrosine kinase (BTK), which is in Phase 1b/2 clinical trial in B-cell malignancies.

BTC Capital Management Inc. Purchases 16,388 Shares of New Senior Investment Group (SNR)

BTC Capital Management Inc. boosted its position in New Senior Investment Group (NYSE:SNR) by 160.6% in the first quarter, HoldingsChannel reports. The firm owned 26,595 shares of the real estate investment trust’s stock after purchasing an additional 16,388 shares during the quarter. BTC Capital Management Inc.’s holdings in New Senior Investment Group were worth $217,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northern Trust Corp increased its holdings in New Senior Investment Group by 6.7% in the 1st quarter. Northern Trust Corp now owns 1,470,220 shares of the real estate investment trust’s stock worth $12,027,000 after purchasing an additional 91,777 shares in the last quarter. WESPAC Advisors LLC increased its holdings in New Senior Investment Group by 30.5% in the 1st quarter. WESPAC Advisors LLC now owns 108,535 shares of the real estate investment trust’s stock worth $888,000 after purchasing an additional 25,381 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in New Senior Investment Group in the 1st quarter worth about $887,000. Thompson Siegel & Walmsley LLC increased its holdings in New Senior Investment Group by 45.3% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 77,150 shares of the real estate investment trust’s stock worth $631,000 after purchasing an additional 24,071 shares in the last quarter. Finally, Aperio Group LLC increased its holdings in New Senior Investment Group by 52.6% in the 1st quarter. Aperio Group LLC now owns 45,674 shares of the real estate investment trust’s stock worth $374,000 after purchasing an additional 15,749 shares in the last quarter. 68.94% of the stock is owned by institutional investors and hedge funds.

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SNR has been the subject of a number of recent research reports. Zacks Investment Research raised New Senior Investment Group from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Wednesday, March 21st. ValuEngine cut New Senior Investment Group from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of New Senior Investment Group in a report on Monday. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $9.31.

Shares of SNR stock opened at $7.81 on Thursday. The stock has a market capitalization of $625.15 million, a PE ratio of 6.85 and a beta of 0.61. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 4.04. New Senior Investment Group has a 1-year low of $6.77 and a 1-year high of $10.57.

New Senior Investment Group (NYSE:SNR) last issued its quarterly earnings results on Thursday, May 10th. The real estate investment trust reported ($0.16) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.40). The company had revenue of $99.22 million during the quarter, compared to analyst estimates of $98.69 million. New Senior Investment Group had a net margin of 2.02% and a return on equity of 1.75%. The company’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. research analysts predict that New Senior Investment Group will post 1.01 earnings per share for the current year.

About New Senior Investment Group

New Senior Investment Group (NYSE: SNR) is a publicly-traded real estate investment trust with a diversified portfolio of senior housing properties located across the United States. As of December 31, 2017, New Senior is one of the largest owners of senior housing properties, with 133 properties across 37 states.

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Fiat Chrysler Automobiles (FCAU) Shares Gap Up to $21.86

Fiat Chrysler Automobiles (NYSE:FCAU) shares gapped up prior to trading on Monday . The stock had previously closed at $21.16, but opened at $21.86. Fiat Chrysler Automobiles shares last traded at $22.34, with a volume of 2377765 shares changing hands.

FCAU has been the topic of a number of research reports. Zacks Investment Research lowered Fiat Chrysler Automobiles from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Vetr raised Fiat Chrysler Automobiles from a “hold” rating to a “buy” rating and set a $25.70 price objective on the stock in a report on Monday, January 29th. Morgan Stanley upped their price objective on Fiat Chrysler Automobiles from $18.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, February 5th. ValuEngine lowered Fiat Chrysler Automobiles from a “strong-buy” rating to a “buy” rating in a report on Monday, February 5th. Finally, Instinet initiated coverage on Fiat Chrysler Automobiles in a report on Wednesday, March 21st. They issued a “neutral” rating and a $21.10 price objective on the stock. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $20.79.

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The firm has a market capitalization of $42.61 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 0.23 and a beta of 2.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.80 and a quick ratio of 0.50.

Fiat Chrysler Automobiles (NYSE:FCAU) last released its earnings results on Thursday, April 26th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). The company had revenue of $27.03 billion for the quarter, compared to analyst estimates of $27.74 billion. Fiat Chrysler Automobiles had a return on equity of 20.10% and a net margin of 3.52%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. equities research analysts anticipate that Fiat Chrysler Automobiles will post 3.93 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. grew its holdings in shares of Fiat Chrysler Automobiles by 6.2% during the 4th quarter. Macquarie Group Ltd. now owns 39,300 shares of the company’s stock worth $701,000 after purchasing an additional 2,300 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Fiat Chrysler Automobiles by 7.5% during the 1st quarter. Sei Investments Co. now owns 36,830 shares of the company’s stock worth $756,000 after purchasing an additional 2,560 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Fiat Chrysler Automobiles by 43.6% during the 1st quarter. IFP Advisors Inc now owns 8,618 shares of the company’s stock worth $177,000 after buying an additional 2,616 shares during the last quarter. Greenleaf Trust lifted its position in shares of Fiat Chrysler Automobiles by 15.3% during the 4th quarter. Greenleaf Trust now owns 20,884 shares of the company’s stock worth $373,000 after buying an additional 2,774 shares during the last quarter. Finally, First Allied Advisory Services Inc. lifted its position in shares of Fiat Chrysler Automobiles by 6.3% during the 4th quarter. First Allied Advisory Services Inc. now owns 50,258 shares of the company’s stock worth $896,000 after buying an additional 2,976 shares during the last quarter. 25.63% of the stock is currently owned by institutional investors.

Fiat Chrysler Automobiles Company Profile

Fiat Chrysler Automobiles N.V., together with its subsidiaries, designs, engineers, manufactures, distributes, and sells vehicles, components, and production systems. The company operates through six segments: NAFTA, LATAM, APAC, EMEA, Maserati, and Components. It provides passenger cars, trucks, and light commercial vehicles under the Jeep, Ram, Dodge, Chrysler, Fiat, Fiat Professional, Alfa Romeo, and Abarth brands; and luxury vehicles under the Maserati brand, as well as related service parts and accessories, and service contracts under the Mopar brand.

G1 Therapeutics (GTHX) Reaches New 1-Year High and Low After Analyst Upgrade

G1 Therapeutics (NASDAQ:GTHX) shares hit a new 52-week high and low during mid-day trading on Friday after Needham & Company LLC raised their price target on the stock from $42.00 to $60.00. Needham & Company LLC currently has a buy rating on the stock. G1 Therapeutics traded as low as $52.76 and last traded at $51.49, with a volume of 3566 shares changing hands. The stock had previously closed at $50.94.

A number of other research analysts also recently issued reports on GTHX. BidaskClub raised G1 Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. JPMorgan Chase increased their target price on G1 Therapeutics to $30.00 in a report on Monday, February 5th. Zacks Investment Research downgraded G1 Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. BTIG Research reissued a “buy” rating and issued a $38.00 target price on shares of G1 Therapeutics in a report on Thursday, February 22nd. Finally, Cowen reissued a “buy” rating on shares of G1 Therapeutics in a report on Monday, March 5th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. G1 Therapeutics has an average rating of “Buy” and a consensus price target of $41.80.

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In other news, VP Jennifer K. Moses sold 750 shares of the firm’s stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $37.47, for a total value of $28,102.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark A. Velleca sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $46.28, for a total value of $347,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,026 shares of company stock worth $843,033. 15.92% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of GTHX. Schwab Charles Investment Management Inc. bought a new position in shares of G1 Therapeutics in the third quarter worth about $364,000. California State Teachers Retirement System bought a new position in shares of G1 Therapeutics in the third quarter worth about $319,000. Alps Advisors Inc. raised its stake in shares of G1 Therapeutics by 13.1% in the fourth quarter. Alps Advisors Inc. now owns 31,409 shares of the company’s stock worth $623,000 after buying an additional 3,643 shares during the period. Hodges Capital Management Inc. bought a new position in shares of G1 Therapeutics in the fourth quarter worth about $292,000. Finally, Swiss National Bank bought a new position in shares of G1 Therapeutics in the fourth quarter worth about $286,000. 42.11% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market capitalization of $1.61 billion and a P/E ratio of -14.26.

G1 Therapeutics (NASDAQ:GTHX) last released its earnings results on Thursday, May 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.07). equities analysts forecast that G1 Therapeutics will post -2.66 EPS for the current year.

About G1 Therapeutics

G1 Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of novel small molecule therapeutics for the treatment of patients with cancer in the United States. It is developing trilaciclib, an intravenous cyclin-dependent kinases (CDK) 4/6 inhibitor that is in Phase 1b/2a clinical trials for patients with small cell lung cancer, as well as Phase 2 clinical trial for patients with first-/second-/third-line metastatic triple-negative breast cancer; G1T38, an oral CDK4/6 inhibitor that is Phase 1b/2a clinical trials for the treatment of breast cancer; and G1T48, an oral selective estrogen receptor degrader, which is in preclinical development.

India is freaking out about rising oil prices

A spike in oil prices has the world's third largest consumer of energy worried.

India is seeking assurances from Saudi Arabia, OPEC's biggest producer, that oil prices will remain "stable and moderate," its government said in a statement on Friday.

Energy minister Dharmendra Pradhan spoke with Saudi oil minister Khalid Al-Falih late on Thursday to "express his concern about rising prices and its negative impact on consumers and the Indian economy," it said.

World oil prices have spiked by nearly 20% in 2018, and are up more than 40% over the past 12 months. President Donald Trump's decision to pull out of the Iran nuclear deal -- leading to concerns about Iranian supplies -- and a collapse in Venezuelan production have accelerated the price rise in recent weeks.

Brent crude, the global benchmark, crossed $80 per barrel on Thursday, while US crude futures hit $71.60 per barrel early Friday, their highest level since 2014.

$80 is 'way above reasonable'

Oil markets were already getting tighter following nearly 18 months of a deal between OPEC and Russia to curb their output to mop up a supply glut.

"We're not saying oil should be $25 a barrel, it should be at a price that is reasonable," Sanjay Sudhir, joint secretary for international cooperation at India's energy ministry, told CNNMoney. "$80 is way above a reasonable price, this is not a market-driven price."

Al-Falih told his Indian counterpart that Saudi Arabia would work with other OPEC producers and Russia "to "ensure availability of adequate supplies to offset any potential shortfalls," the kingdom's official news agency said.

OPEC and Russia discuss next move

Saudi Arabia has been discussing how to respond to the recent market volatility with the United Arab Emirates, the current OPEC president, and they'll consult with Russia next week on the sidelines of a conference in St. Petersburg, the agency reported. OPEC producers are due to meet in June to review their production cuts.

India has long been a major buyer of Iranian oil, though it has diversified its supply over the past few years through deals with Russia and, more recently, Saudi Arabia. The kingdom's state oil giant, Saudi Aramco, signed a a $44 billion deal last month to build a "mega refinery" in India with a consortium of Indian oil companies.

Indian concerns about oil price rises are understandable. Low oil prices played a big role in making it the world's fastest growing major economy in the recent years.

Every $10 increase in the price of a barrel knocks 0.2% to 0.3% off India's growth rate, according to the country's latest economic survey.

And growth in energy demand will be faster in India over the next two decades than any other country in the world, OPEC said in its World Oil Outlook 2040 released in November.

That demand could be threatened if oil prices keep rising, however.

"[India's] consumption will struggle to continue at its current pace, should oil prices continue to rise," analysts at BMI Research wrote in a recent note.

-- Ivana Kottasova contributed to this report