Pfizer Inc. (NYSE: PFE) has received FDA approval for LITFULO (ritlecitinib), an oral treatment for severe alopecia areata in individuals aged 12 and above. LITFULO, which is expected to be available in the coming weeks, is the first and only FDA-approved treatment for adolescents with this condition.

Alopecia areata is an autoimmune disease characterized by hair loss, particularly affecting the head and face. LITFULO inhibits JAK3 and TEC kinases, thereby blocking cytokine signaling and T cell activity associated with the disease's development.

This approval represents a particularly important treatment option for younger patients facing considerable hair loss, who often struggle with such a visible disease. 

On Friday, $PFE closed at $38.30, down $0.43 (1.11%).

In other news, Sarepta Therapeutics, Inc. (Nasdaq: SRPT), a biotechnology company focused on developing RNA-based therapeutics, received positive recommendations and price target upgrades from Cantor Fitzgerald, Citigroup, and Goldman Sachs.

Cantor Fitzgerald maintained an Overweight rating on Sarepta Therapeutics and raised the price target from $153 to $166. Similarly, Citigroup maintained a Buy rating and increased the price target from $161 to $204. Additionally, Goldman Sachs maintained a Buy rating and raised the price target from $188 to $215.

$SRPT closed at $114.09 on Friday.

Separately, Darden Restaurants, Inc. (NYSE: DRI), a renowned restaurant company, received positive recommendations and price target upgrades from Morgan Stanley, Wedbush, TD Cowen, Truist, and Citigroup.

Morgan Stanley maintained an Overweight rating on Darden Restaurants and raised the price target from $168 to $171. Wedbush also maintained an Outperform rating and increased the price target from $175 to $178. TD Cowen reiterated an Outperform rating and raised the price target from $160 to $175. Similarly, Truist maintained a Buy rating and raised the price target from $163 to $177. Additionally, Citigroup maintained a Buy rating and increased the price target from $187 to $195.

On Friday, $DRI closed at $161.30.

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