Since late September, Mirum Pharmaceuticals has put a fourth medicine on the U.S. market, reported that its hepatitis delta antibody met the primary endpoint of a pivotal Phase 3 trial, and reported that its commercial lead drug met the primary endpoint of a second Phase 3 in ...
Read Article ›The market is not underpricing Enterprise Products Partners so much as pricing it correctly as a spread product and then marking it against a Treasury curve that has moved violently.
Read Article ›The most underappreciated line in the second-quarter filing is the net interest margin table where average interest-earning assets grew 37% to $228.6 billion.
Read Article ›At roughly 41x FY27E earnings against that growth and that balance sheet, Robinhood is mispriced as a crypto proxy when the crypto line has already fallen to 13% of revenue and the business kept compounding anyway. The market is underwriting the wrong risk, and the diversifica...
Read Article ›Warner Bros Discovery offers a mid-to-high-teens gross return to a $31 cash takeout, backed by a buyer with unusually strong financial credibility–meanwhile the DOJ appears constructive; international approvals are accumulating; and the underlying business—particularly streami...
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