US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/palantir-technologies-inc" target="_blank" data-smartkarma-citation="entities:27728:1" rel="noopener">Palantir Technologies (PLTR US)</a> is anticipated to be the largest addition following its eligibility, which was secured through a listing transfer from NYSE to Nasdaq just before the cut-off date.</li>
<li>
<a href="https://www.smartkarma.com/entities/super-micro-computer-inc" target="_blank" data-smartkarma-citation="entities:7921:1" rel="noopener">Super Micro Computer (SMCI US)</a> is projected to exit the index despite its recent entry in July 2024, as it has ranked above the exit threshold of 125.</li>
<li>
<a href="https://www.smartkarma.com/entities/arm-holdings-inc" target="_blank" data-smartkarma-citation="entities:21816:1" rel="noopener">ARM Holdings (ARM US)</a> is not an expected deletion due to special ADR market cap treatment. <a href="https://www.smartkarma.com/entities/equinix-inc" target="_blank" data-smartkarma-citation="entities:17409:1" rel="noopener">Equinix Inc (EQIX US)</a> is not an expected addition because it is a REIT.</li>
</ul>



Palantir Technologies (PLTR US) is anticipated to be the largest addition following its eligibility, which was secured through a listing transfer from NYSE to Nasdaq just before the cut-off date.

Super Micro Computer (SMCI US) is projected to exit the index despite its recent entry in July 2024, as it has ranked above the exit threshold of 125.

ARM Holdings (ARM US) is not an expected deletion due to special ADR market cap treatment. Equinix Inc (EQIX US) is not an expected addition because it is a REIT.


Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mongodb-inc" target="_blank" data-smartkarma-citation="entities:26655:1" rel="noopener">MongoDB (MDB US)</a> and <a href="https://www.smartkarma.com/entities/biogen-inc" target="_blank" data-smartkarma-citation="entities:972:1" rel="noopener">Biogen Inc (BIIB US)</a> are the main candidates for deletion based on their current and previous-review ranking.</li>
<li>
<a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys Inc (ANSS US)</a> is expected to be deleted from the index by June 2025 following its $35bn acquisition by <a href="https://www.smartkarma.com/entities/synopsys-inc" target="_blank" data-smartkarma-citation="entities:3493:1" rel="noopener">Synopsys Inc (SNPS US)</a>. </li>
<li>
<a href="https://www.smartkarma.com/entities/united-airlines-holdings-inc" target="_blank" data-smartkarma-citation="entities:15776:1" rel="noopener">United Airlines Holdings (UAL US)</a> and <a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US)</a> are currently the main candidates for addition, thus the first in line to replace <a href="https://www.smartkarma.com/entities/ansys-inc" target="_blank" data-smartkarma-citation="entities:15473:1" rel="noopener">Ansys Inc (ANSS US)</a>.</li>
</ul>



MongoDB (MDB US) and Biogen Inc (BIIB US) are the main candidates for deletion based on their current and previous-review ranking.

Ansys Inc (ANSS US) is expected to be deleted from the index by June 2025 following its $35bn acquisition by Synopsys Inc (SNPS US). 

United Airlines Holdings (UAL US) and Alnylam Pharmaceuticals (ALNY US) are currently the main candidates for addition, thus the first in line to replace Ansys Inc (ANSS US).


Nasdaq100 Dec2025 Forecast (Part 1): MDB & BIIB in Trouble; UAL & ALNY First Replacements

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>During H1FY25, <a href="https://www.smartkarma.com/entities/eisai-co-ltd" target="_blank" data-smartkarma-citation="entities:21001:1" rel="noopener">Eisai Co Ltd (4523 JP)</a> reported 3% YoY growth in revenue, driven by mainstay drugs. However, operating profit declined 11% YoY and net profit decreased 6% YoY.</li>
<li>Although Eisai kept its FY25 total revenue guidance unchanged, it has reduced Leqembi FY25 revenue guidance by ¥14B to ¥42.5B due to lower revenue expectation from Americas.</li>
<li>Leqembi is expected to be approved in Europe for a narrower set of patients. Next year, the drug will face competition in the U.S.</li>
</ul>


During H1FY25, Eisai Co Ltd (4523 JP) reported 3% YoY growth in revenue, driven by mainstay drugs. However, operating profit declined 11% YoY and net profit decreased 6% YoY.
Although Eisai kept its FY25 total revenue guidance unchanged, it has reduced Leqembi FY25 revenue guidance by ¥14B to ¥42.5B due to lower revenue expectation from Americas.
Leqembi is expected to be approved in Europe for a narrower set of patients. Next year, the drug will face competition in the U.S.


Eisai Co Ltd (4523 JP): Mixed H1FY25 Performance; Guidance Reaffirmed; Leqembi Struggle Continues

Thematic (Sector/Industry)

<ul>
<li>Eisai Announced that global revenue of Leqembi in Q2FY25 was ¥10B, up 1.6x than Q1FY25. Takeda Pharma announced positive interim results from a Phase 3 study.</li>
<li>Shionogi’s COVID-19 drug was effective in reducing transmission of the disease. JCR Pharmaceuticals initiated first patient dosing in Japan in the Phase I clinical trial of JR-441.</li>
<li>Celltrion signed a contract with a U.S. GPO to list Zymfentra on private insurance formularies, which will expand the drug's coverage to 90%+ of the U.S. health insurance market.</li>
</ul>


Eisai Announced that global revenue of Leqembi in Q2FY25 was ¥10B, up 1.6x than Q1FY25. Takeda Pharma announced positive interim results from a Phase 3 study.
Shionogi’s COVID-19 drug was effective in reducing transmission of the disease. JCR Pharmaceuticals initiated first patient dosing in Japan in the Phase I clinical trial of JR-441.
Celltrion signed a contract with a U.S. GPO to list Zymfentra on private insurance formularies, which will expand the drug's coverage to 90%+ of the U.S. health insurance market.


APAC Healthcare Weekly (Nov 3)- Eisai, Takeda, Shionogi, Astellas Pharma, Celltrion, Wuxi AppTec

Global Healthcare Strategist

Vincy Ip

<ul>
<li>Brain disorders, including various neurological and mental diseases, are the hidden danger with the largest social burden among all diseases. </li>
<li>With strong government support across the globe and accelerating private financing, we identify four key areas of investment opportunities in brain science, including neurotherapeutics, neurodiagnostics, neurosurgery, and brain-computer interface (BCI).</li>
<li>Even though the concept of BCI looks promising, its scalability, application, and monetisation potential remain uncertain in the near term and hence the invesmtent risks would be high. </li>
</ul>


Brain disorders, including various neurological and mental diseases, are the hidden danger with the largest social burden among all diseases. 
With strong government support across the globe and accelerating private financing, we identify four key areas of investment opportunities in brain science, including neurotherapeutics, neurodiagnostics, neurosurgery, and brain-computer interface (BCI).
Even though the concept of BCI looks promising, its scalability, application, and monetisation potential remain uncertain in the near term and hence the invesmtent risks would be high. 


Brain Science - An Opportunity or a Trap?

United States

Biogen Inc. develops, manufactures, and commercializes therapies, focusing on neurology, oncology, and immunology. The Company's products address diseases such as multiple sclerosis, non-Hodgkin's lymphoma, rheumatoid arthritis, Crohn's disease, and psoriasis.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Biogen Inc (BIIB US)

Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

F1: 100%. All of the forecasts matched the index changes announced at the close of Friday 13 December. SMCI fell more than 11% in premarket trading...

Dimitris Ioannidis

Nasdaq100 Dec2025 Forecast (Part 1): MDB & BIIB in Trouble; UAL & ALNY First Replacements

Ansys (ANSS) is expected to be deleted from Nasdaq100 by June 2025 following its acquisition by Synopsys (SNPS). United Airlines (UAL) and Alnylam...

Dimitris Ioannidis

Eisai Co Ltd (4523 JP): Mixed H1FY25 Performance; Guidance Reaffirmed; Leqembi Struggle Continues

Eisai sees revenue growth but profit decline in H1FY25. The company reduced Leqembi guidance for FY25. Leqembi is expected to be approved in...

Tina Banerjee

APAC Healthcare Weekly (Nov 3)- Eisai, Takeda, Shionogi, Astellas Pharma, Celltrion, Wuxi AppTec

Large APAC healthcare companies are reporting mixed earnings. Demography will play a key role in ensuring how the overall domestic demand scenario...

Tina Banerjee

Brain Science - An Opportunity or a Trap?

We identify four key areas of investment opportunities in brain science, including neurotherapeutics, neurodiagnostics, neurosurgery, and brain...

Vincy Ip

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Nasdaq100 December 2024 Forecast (Final): Palantir's Last-Minute Entry; Arm's Subtle Retention

F1: 100%. All of the forecasts matched the index changes announced at the close of Friday 13 December. SMCI fell more than 11% in premarket trading...

Dimitris Ioannidis

Nasdaq100 Dec2025 Forecast (Part 1): MDB & BIIB in Trouble; UAL & ALNY First Replacements

Ansys (ANSS) is expected to be deleted from Nasdaq100 by June 2025 following its acquisition by Synopsys (SNPS). United Airlines (UAL) and Alnylam...

Dimitris Ioannidis

Eisai Co Ltd (4523 JP): Mixed H1FY25 Performance; Guidance Reaffirmed; Leqembi Struggle Continues

​Eisai sees revenue growth but profit decline in H1FY25. The company reduced Leqembi guidance for FY25. Leqembi is expected to be approved in...

Tina Banerjee

APAC Healthcare Weekly (Nov 3)- Eisai, Takeda, Shionogi, Astellas Pharma, Celltrion, Wuxi AppTec

Large APAC healthcare companies are reporting mixed earnings. Demography will play a key role in ensuring how the overall domestic demand scenario...

Tina Banerjee

Brain Science - An Opportunity or a Trap?

We identify four key areas of investment opportunities in brain science, including neurotherapeutics, neurodiagnostics, neurosurgery, and brain...

Vincy Ip

Eisai sees revenue growth but profit decline in H1FY25. The company reduced Leqembi guidance for FY25. Leqembi is expected to be approved in...