To The Moon

1. Pharma stocks $Regeneron Pharmaceuticals(REGN)$ and $Vertex Pharmaceuticals(VRTX)$ hit new high of $853.97 and $374.45 respectively. $Regeneron Pharmaceuticals(REGN)$ three core value drivers are its eye disease drug Eylea (now available in a high-dose form), immunology drug Dupixent, and anti-cancer therapy Libtayo. FDA approved its high-dose Eylea in August. $Vertex Pharmaceuticals(VRTX)$ is striving to develop treatments for APOL1-mediated kidney disease, non-opioid pain medications, rare blood disorders, and diabetes. 2. Insurance stocks $Arch Capital(ACGL)$ and $Progressive(PGR)$ hit new high of $86.4 and $158.17 respectively. $Progressive(PGR)$ missed earnings estimates for the third quarter Friday, but net premiums jumped. EPS: $1.64, slightly missing consensus for $1.72. Net premiums earned: $14.89 bln, surpassing the estimates of $14.77bln Following the Q3 report, Piper Sandler analyst Paul Newsome upgraded Progressive stock to buy from neutral with a Street-high price target of $186, up from $133. $Arch Capital(ACGL)$ offers property and casualty, specialty, mortgage and reinsurance to customers. It’s scheduled to release earnings on 31st October. Last week, Barclays raised its price target to 96 from 92 and maintained its overweight rating. Morgan Stanley lifted its price target to 100 from 98 and kept it overweight rating.