Upgrades - Argus upgraded BHP Group (BHP) to Buy from Hold with a price target of $68, citing firming prices for iron ore, copper, and coal as the global economy improves [1] Downgrades - Jefferies downgraded Mereo BioPharma (MREO) to Hold from Buy with a price target of $0.50, down from $7, due to Setrusumab missing primary endpoints in trials [2] - RBC Capital downgraded DigitalBridge (DBRG) to Sector Perform from Outperform with a price target of $16, down from $23, following SoftBank's acquisition announcement at $16 per share [3] Initiations - Stephens initiated coverage of Commvault (CVLT) with an Overweight rating and a $162 price target, highlighting its evolution in data protection and transition to Software-as-a-Service [4] - Stephens initiated coverage of Rubrik (RBRK) with an Overweight rating and a $105 price target, noting its attractive growth outlook in data protection and data security [4] - Stephens initiated coverage of Varonis (VRNS) with an Equal Weight rating and a $40 price target, emphasizing its growth potential in data security as a Software-as-a-Service platform [4] - Freedom Capital initiated coverage of Ero Copper (ERO) with a Buy rating and a $32 price target, citing its high-grade, low-cost asset portfolio in Brazil [4] - H.C. Wainwright initiated coverage of Terra Innovatum (NKLR) with a Buy rating and a $25 price target, believing its use of off-the-shelf components will reduce regulatory barriers [4]

Core Viewpoint - Mereo BioPharma Group plc is under investigation for potential securities fraud and unlawful business practices following disappointing Phase 3 study results for its treatment setrusumab, which led to a significant drop in stock price [1][3][4]. Group 1: Company Performance - Mereo announced results from two Phase 3 studies for setrusumab, a treatment aimed at conditions affecting bone metabolism [3]. - Neither study met the primary endpoints of reducing the annualized clinical fracture rate compared to placebo or bisphosphonates, although both achieved secondary endpoints related to improvements in bone mineral density with strong statistical significance [3]. - Following the announcement, Mereo's stock price plummeted by $2.02 per share, a decrease of 87.64%, closing at $0.28 per share on December 29, 2025 [4]. Group 2: Legal Investigation - Pomerantz LLP is investigating claims on behalf of Mereo investors regarding possible securities fraud or other unlawful business practices by the company and its officers and/or directors [1].

Core Insights - Shares of Ultragenyx Pharmaceutical (RARE) and Mereo BioPharma (MREO) fell significantly by 42.3% and 87.6% respectively after disappointing results from phase III studies evaluating setrusumab for osteogenesis imperfecta treatment [1][2] Study Results - The Orbit and Cosmic studies did not achieve statistical significance for their primary endpoints related to annualized clinical fracture rate compared to placebo or bisphosphonates [2][7] - Both studies showed statistically significant improvements in bone mineral density (BMD) as a secondary endpoint, with no changes in safety profiles [2][9] - In the Orbit study, participants had meaningful BMD improvements, but these did not lead to a reduction in fracture rates [9] - The Cosmic study indicated that while BMD improvements were observed in a younger patient population, the reduction in fracture rates compared to bisphosphonates was not statistically significant [10] Company Actions - Ultragenyx is reviewing its operations and will implement significant cost-reduction measures following the study results [3][7] - The company is conducting additional analyses on the data from both studies to explore other bone health and clinical endpoints beyond fractures [10] Stock Performance - Over the past six months, Ultragenyx shares have declined by 45.7%, while Mereo BioPharma shares have dropped by 89.7%, contrasting with a 25.9% increase in the industry [4]

Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) shares plunged 42% on Monday after the company and partner Mereo BioPharma Group plc (NASDAQ:MREO) disclosed disappointing late-stage data for their rare bone disease program.Mereo BioPharma Group plc and Ultragenyx revealed results from the Phase 3 Orbit and Cosmic studies for setrusumab (UX143) in Osteogenesis Imperfecta (OI).The companies said that neither study achieved statistical significance against the primary endpoints of reduction in annualized clinical ...

Upgrades - Argus upgraded BHP Group (BHP) to Buy from Hold with a price target of $68, citing firming prices for iron ore, copper, and coal as the global economy improves [2] Downgrades - Jefferies downgraded Mereo BioPharma (MREO) to Hold from Buy with a price target of 50 cents, down from $7, due to Setrusumab missing primary endpoints in trials, impacting Mereo's future strategy [3] - RBC Capital downgraded DigitalBridge (DBRG) to Sector Perform from Outperform with a price target of $16, down from $23, following SoftBank's acquisition announcement at $16 per share, totaling a $4 billion enterprise value [4] Initiations - Stephens initiated coverage of Commvault (CVLT) with an Overweight rating and a $162 price target, highlighting its leadership in data protection and transition to Software-as-a-Service [5] - Stephens initiated coverage of Rubrik (RBRK) with an Overweight rating and a $105 price target, noting its strong growth outlook in data protection and expected margin expansion [5] - Stephens initiated coverage of Varonis (VRNS) with an Equal Weight rating and a $40 price target, emphasizing its growth potential in data security as a Software-as-a-Service platform [5] - Freedom Capital initiated coverage of Ero Copper (ERO) with a Buy rating and a $32 price target, pointing out its high-grade, low-cost assets in Brazil [5] - H.C. Wainwright initiated coverage of Terra Innovatum (NKLR) with a Buy rating and a $25 price target, believing its use of off-the-shelf components will lower regulatory and technological barriers [5]

Market Sentiment - The CNN Money Fear and Greed index showed a decline in overall market sentiment, remaining in the "Neutral" zone with a reading of 49.3, down from 52.5 [5] - U.S. stocks settled lower on Monday, with the Nasdaq Composite falling more than 100 points during the session [1] Stock Performance - Nvidia Corp. shares fell more than 1% on Monday after gaining last week [1] - The S&P 500 recorded a 1.4% increase last week, marking its fourth weekly surge in five weeks, while the Dow and Nasdaq also added over 1% [1] - The Dow Jones closed lower by around 249 points to 48,461.93, the S&P 500 slipped 0.35% to 6,905.74, and the Nasdaq Composite declined 0.50% to 23,474.35 during Friday's session [4] Company-Specific News - Mereo BioPharma Group plc shares dropped 88% on Monday after its Phase 3 studies for setrusumab in Osteogenesis Imperfecta did not achieve statistical significance against primary endpoints [2] Economic Data - U.S. pending home sales increased by 3.3% month-over-month in November, following a revised 2.4% gain in October, exceeding market estimates of a 1% gain [3] - Most sectors on the S&P 500 closed negatively, with consumer discretionary, materials, and financials stocks recording the largest losses, while energy and real estate stocks closed higher [3]

Major U.S. indices closed lower on Monday, with the Dow Jones Industrial Average slipping 0.5% to 48,461.93. The S&P 500 declined 0.35% to 6,905.74, while the Nasdaq fell 0.5% to 23,474.34.These are the top stocks that gained the attention of retail traders and investors throughout the day:Brand Engagement Network Inc. (NASDAQ:BNAI)Brand Engagement Network stock surged by 108.75%, closing at $2.50. It reached an intraday high of $2.91 and a low of $1.77, with a 52-week range between $11.80 and $1.18. In the ...

U.S. Stock market today: U.S. stocks started the final week of 2025 on a weaker note, with major indexes slipping as selling pressure hit megacap technology names and precious metals pulled back sharply from record highs. Investors entered the last three trading sessions of the year cautious but still positioned for what is shaping up to be a strong annual finish for Wall Street. The Despite the daily slip, the broader market remains on track for a robust yearly performance. The S&P 500 has climbed over 17% ...

U.S. stocks traded lower this morning, with the Dow Jones index falling more than 100 points on Monday.Following the market opening Monday, the Dow traded down 0.25% to 48,591.37 while the NASDAQ slipped 0.55% to 23,464.42. The S&P 500 also fell, dropping, 0.34% to 6,906.41.Check This Out: Top 2 Risk Off Stocks That May Collapse In DecemberLeading and Lagging SectorsEnergy shares rose by 0.6% on Monday.In trading on Monday, materials stocks fell by 1.1%.Top HeadlineU.S. pending home sales jumped by 3.3% mon ...

U.S. stock futures were lower this morning, with the Dow futures falling around 100 points on Monday.Shares of Mereo BioPharma Group plc – ADR (NASDAQ:MREO) fell sharply in pre-market trading after the company announced its Phase 3 ORBIT and COSMIC Studies for setrusumab in Osteogenesis Imperfecta did not achieved statistical significance against the primary endpoints of reduction in annualized clinical fracture rate compared to placebo or bisphosphonates, respectively.Mereo BioPharma Group shares tumbled 8 ...