Terry Chrisomalis

Summary Ovid Therapeutics is upgraded from 'Hold' to 'Buy' as OV329 advances past safety hurdles at higher doses.

Summary Compass Pathways plc is upgraded from Hold to Strong Buy following robust phase 3 data for COMP360 in treatment-resistant depression [TRD].

Summary Century Therapeutics is downgraded from "Buy" to "Hold" due to strategic setbacks and slow clinical progress.

Summary NovoCure Limited is downgraded from Strong Buy to Buy after the phase 3 TRIDENT trial failed to meet its primary endpoint of OS in newly diagnosed GBM patients.

Summary BridgeBio Pharma (BBIO) remains a "Strong Buy," driven by regulatory approvals, robust pipeline progress, and significant commercial momentum for Attruby in ATTR-CM.

Q32 Bio (QTTB) upgraded to Strong Buy after phase 2a bempikibart alopecia areata results, strong efficacy/safety, and catalysts ahead—click to read now.

Summary Spero Therapeutics is initiated with a "Buy" rating, driven by its strategic pivot to immunology and strong non-dilutive financing.

Summary Celcuity Inc. secured FDA approval for REVTORPYK, the first pan-PI3K, mTORC1/2 inhibitor for 2nd-line PIK3CA wild-type HR+/HER2- advanced breast cancer.

Summary AtaiBeckley is being acquired by Eli Lilly for $6.75/share in cash, capping upside and prompting a downgrade from 'Buy' to 'Hold.'

Summary Merck & Co., Inc. maintains a Strong Buy rating, driven by robust oncology expansion and the launch of LIPFENDRA, the first oral PCSK9 inhibitor for hypercholesterolemia.