Grifols (GRFS) to Release Earnings on Thursday

Grifols (GRFS) reported Q3 2026 revenue of €2.04B, up 8.4% at constant currency, with adjusted EBITDA of €538M and margins expanding to 26.4%. Leverage fell to 3.98x, and the company declared an interim dividend of €0.15 per share. Biopharma revenue grew 10.3%, driven by immunoglobulin demand, while albumin revenues declined 13.2% due to China market pressures. The stock rose 5% to $8.52 post-results.

Grifols, a Spanish pharmaceutical company, halted plasma collection in Canada indefinitely after Health Canada found deficiencies at its sites and two donor deaths. Health Canada later suspended Grifols' Winnipeg site license. Grifols' partnership with Canadian Blood Services (CBS) has been controversial due to its payment of donors, a practice new to Canada and reminiscent of past tainted blood scandals.

Grifols (GRFS) reported first-half 2026 revenue of €3.574 billion, up 2.6% at constant currency, driven by BioPharma and IG franchise growth. Q2 adjusted EBITDA was €472 million (25.2% margin) and H1 free cash flow was €91 million. Full-year FCF guidance of $500 million to $575 million was maintained, with net leverage slightly below 4.2x. The company plans to expand ex-U.S. plasma sourcing (Egypt, Canada) and is evaluating a potential IPO of its U.S. Biopharma business.

UBS kept its Buy rating on Bank of America but reduced its price target to $62 from $67, citing a 7.5% decrease. The new target suggests a 25.1% upside from the stock's Nov 2 close of $49.57. Recent analyst notes have set price targets between $58 and $61.

Fortuna Mining Corp. (FSM, FVI) announced progress on its Diamba Sud gold project in Senegal, receiving a Notice of Admissibility for its Exploitation Permit. The company expects final approval by Q4 2026 and aims for first gold in mid-2028. Fortuna targets 60% growth in annual gold production to 500,000 ounces by mid-2028, supported by the Diamba Sud project and a 30% plant expansion at its Séguéla mine.

Novartis' experimental heart drug, pelacarsen, failed to reduce heart attack and stroke risk in a large trial, despite lowering Lp(a) levels by 80%. Doctors and investors await detailed results. Other drugmakers, like Amgen and Eli Lilly, are developing similar drugs. Novartis' stock dropped 16% following the news. The trial's outcome may impact future Lp(a)-targeting drug development.