$TREX

Multi-Trex Integrated Foods Plc's shares rose 16.67% after the Nigerian Exchange Limited (NGX) lifted an eight-year trading suspension. The stock increased from N0.36 to N0.42 per share, ranking among the top five gainers on the NGX. The suspension was lifted after Multi-Trex filed required financial statements, resuming trading activity. The stock was highly traded, with over 27 million shares exchanged. This occurred amid a broader market decline, with the NGX All-Share Index falling 0.97%.

TRex Bio Inc. raised $116.7 million in its U.S. IPO, pricing shares at $14, the bottom of its $14-$16 range. The biotech company sold 8.3 million shares, giving it a market value of about $384 million. Proceeds will fund clinical trials for its lead drug candidate, TRB-061. Shares will trade on Nasdaq under the ticker TRXB. The company reported a net loss of $34.8 million in 2025, up from $3.1 million the prior year.

TRex Bio priced its IPO at $117M, selling 8.3M shares at $14 each, and will trade on Nasdaq under 'TRXB'. The company is developing immune drugs, with TRB-061 in Phase 1 trials and TRB-071 planned for testing. Eli Lilly, its largest shareholder, may also buy IPO shares. TRex has raised $220M in venture financing. Another biotech, Retension Pharmaceuticals, also went public with a $45M offering, highlighting increased biotech IPO activity in 2026.

Deutsche Bank upgraded Trex (TREX) to Buy, raising its price target to $57. The firm cited high-single digit sales growth in Q2 2026 and potential for double-digit top-line growth in the second half of 2026. Trex reported Q2 2026 revenue of $418 million, up 8% year-over-year, and adjusted EPS of $0.62. The stock has gained 25% year-to-date and trades at $43.82, below its Fair Value according to InvestingPro data. Management targets $2 billion in sales by 2028, with a 12% CAGR.

TRex Bio, backed by Eli Lilly, aims to raise $133M in its U.S. IPO on Nasdaq. The anti-inflammatory drug developer disclosed details in an SEC filing this week.

B. Riley upgraded Skyworks (SWKS) to Buy with a $107 price target, citing faster Qorvo deal closure. Evercore ISI upgraded Procter & Gamble (PG) to Outperform with a $166 target. Deutsche Bank upgraded Penn Entertainment (PENN) to Buy with a $25 target. StoneX upgraded Texas Roadhouse (TXRH) to Buy with a $200 target. Citi upgraded JetBlue (JBLU) to Neutral with a $4.50 target. Berenberg downgraded Nike (NKE) to Sell with a $27.50 target, citing its smaller sportswear position.

Trex Company (TREX) reported quarterly earnings in line with revenue expectations but missed EPS estimates, leading to a share price decline. The company raised guidance for the coming quarter. Despite a 23.16% year-to-date gain, shares fell 9.72% over the last 90 days and 15.54% over the past year. Analysts value TREX at $54.67, suggesting a 19% undervaluation due to steady demand for composite decking and efficiency gains.

TRex Bio, Inc. filed an S-1 with the SEC on September 18, 2026, to list on Nasdaq. Five underwriters are involved, but no price range, share count, or deal size has been set. The next amendment will provide key details for investors.

Trex Bio filed for a Nasdaq IPO under the ticker TRXB, with Eli Lilly planning to acquire up to 19.9% stake. The company's pipeline includes TRB-071 and TRB-051, with Eli Lilly partnering on the latter. Underwriters include J.P. Morgan, Evercore ISI, and others. The IPO aims to raise capital and establish a strategic partnership with Eli Lilly.

Trex Company (TREX) raised its full-year 2026 net sales guidance to mid single-digit growth from low single-digit, citing stronger demand and operational improvements. The company expects about $1.25 billion in revenue by year-end 2026 and reaffirmed its long-term goal of $2 billion in revenue by 2030. Management highlighted growth from lower-priced products, a faster ramp at its new Little Rock plant, and strategic distribution changes.