David Pogue interviews mischievous T-Mobile CEO John Legere on Thursday, January 9th, from Las Vegas at the 2014 International Consumer Electronics Show. Watch the full interview above.
David Pogue interviews mischievous T-Mobile CEO John Legere on Thursday, January 9th, from Las Vegas at the 2014 International Consumer Electronics Show. Watch the full interview above.
Libya’s state-owned NOC has declared force majeure on crude exports from the eastern Marsa el-Hariga terminal.
It is possible that bond yields have stabilized as traders accept the Fed’s reiteration that the rise in inflation will be short-term.
The stars of the show in financial markets during the first quarter of 2021 were retail traders.
(Bloomberg) -- The Bank of Canada took the biggest step yet by a major economy to reduce emergency levels of monetary stimulus as it hailed a stronger-than-expected recovery from the pandemic.Policy makers led by Governor Tiff Macklem said Wednesday they would scale back their purchases of government debt by a quarter to C$3 billion ($2.4 billion) and accelerate the timetable for a possible interest-rate increase.The upbeat turn toward plotting a return to more normal policy has been resisted by counterparts elsewhere, including the U.S. Federal Reserve. Investors reacted by driving the Canadian dollar to its biggest gain since June.“This is a fairly hawkish message cast by the Bank of Canada,” Simon Harvey, a senior foreign exchange analyst at Monex Canada, said by email. “They seem quite confident that once the current wave of infections subsides the economic recovery will be robust.”The central bank reiterated its guidance that it won’t raise its benchmark interest rate, currently at 0.25%, until the recovery is complete and inflation is sustainably at 2%. But it changed its projections on when that would happen.New TimelineIn new quarterly economic projections, it revised higher its growth estimate for 2021 by more than two percentage points, to 6.5%, and brought forward its forecasts for when slack would be absorbed.“Based on the Bank’s latest projection, this is now expected to happen some time in the second half of 2022,” the bank said in its latest Monetary Policy Report.At a subsequent press conference, Macklem emphasized that the central bank’s commitment is not to raise interest rates before the economy fully recovers, and that any future hike would reflect economic conditions at the time.The Federal Reserve, by contrast, says it won’t begin scaling back the pace of its $120 billion-a-month bond purchases until it sees “substantial further progress” on employment and inflation. Economists surveyed by Bloomberg ahead of the Fed’s March meeting didn’t expect that to happen until 2022.Macklem’s growth revisions bring policy makers more into line with economist projections. Markets had already been pricing in a rate increase in 2022 before Wednesday’s changes. Investors have also been anticipating that Canada’s central bank would be more aggressive than the Federal Reserve in its normalization path.Swaps trading suggests about a 50% chance of a hike in Canada this time next year. Almost three hikes are fully priced in over the next two years, and five hikes over the next three years.Chair Jerome Powell, for his part, has been careful to avoid putting a date on beginning to taper asset purchases in the U.S., though his No. 2, Vice Chair Richard Clarida, has said he doesn’t expect those thresholds to be met this year.Powell has promised to give investors plenty of warning that officials are beginning to debate the timing of a move. He’s been up front in wanting to avoid surprising markets and re-running the 2013 Taper Tantrum, when unexpected news that the Fed was thinking of paring its purchases sent financial markets into a spasm with harmful economic consequences.Loonie SoarsThe Canadian dollar rose 0.9% to C$1.2495 per dollar at 3:47 p.m. in New York, after gaining as much as 1.2%. The market consensus was for the Bank of Canada to pare back its government bond purchases in line with the bank’s new guidance, without altering expectations for no rate hike before 2023.Even before Wednesday’s statement, investors were anticipating the Bank of Canada to be among the most aggressive advanced economies in unwinding stimulus. One reason may be that Canada’s jobs market has recouped 90% of losses during the pandemic, versus just over 60% in the U.S.Still, policy makers remain cautious despite the more positive tone, saying there’s more uncertainty than usual that might affect its estimates for slack. Officials also highlighted concern about the uneven recovery and the potential for scarring in the labor market.What Bloomberg Economics Says...The “Monetary Policy Report includes discussion of several factors that could soften the need to pull forward a rate hike into 2022, in our view. We continue to think a rate move is likely to be delayed into the first quarter of 2023.”--Andrew Husby, economistFor full report, see hereOn technical grounds alone, the central bank’s purchases of Canadian government bonds need to be pared back as the government’s financing requirements drop. It now owns more than 40% of outstanding bonds and is on pace to go above 50% in a few months as Prime Minister Justin Trudeau’s government reduces its issuance by about C$90 billion this year.It’s actually the second time the Bank of Canada has tapered during the pandemic. Macklem reduced the bank’s minimum weekly purchases in October, which had been C$5 billion initially. But at the time, officials characterized the taper as neutral in terms of stimulus, because they shifted purchases toward long-term bonds concurrently.This time, the central bank acknowledged that its reduction of asset purchases will impact the “incremental” amount of stimulus being added to the economy from quantitative easing.(Updates with Bloomberg Economics comment. A previous version of this story was corrected to remove a reference to the Canadian dollar at highest since January.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The Bank of England might strengthen its controls on cloud data providers and other technology firms to counter possible risks to the stability of the financial system from the rise of fintech, Deputy Governor Dave Ramsden said. The Bank of England (BoE) has expressed concerns before about the reliance by financial firms, especially fintech startups, on third-party technology companies for key parts of their operations, and Ramsden said this scrutiny would intensify.
(Bloomberg) -- Canada’s dollar surged the most since June after the country’s central bank said it plans to lower asset purchases by a quarter and indicated it may hike interest rates as early as next year, becoming the first major economy to indicate it will start scaling back emergency stimulus.The loonie outperformed all of its Group-of-10 currency peers, as the Bank of Canada said in spite of the latest lockdowns, it expects the economy to fully heal faster than expected. The announcement sparked a move higher in Canadian yields with the two-year tenor exceeding its U.S. counterpart by about 16 basis points, the most since mid-March.About C$3 billion ($2.4 billion) in currency futures traded within a 30-minute period after the announcement, the most in over six months.The loonie is extending its advance following two straight weeks of gains fueled by traders bidding up the currency on bets the central bank would begin tapering. That’s in contrast to other major counterparts including the Federal Reserve that are not expected to tighten anytime soon.Canada’s Governor Tiff Macklem reiterated that the economy has been more resilient than expected, but noted that there are still parts that need improvement and will be targeting a more even recovery. The bank also revised higher its growth estimate for 2021 by more than two percentage points, to 6.5%, and brought forward its forecasts for when slack would be absorbed.Bank of Canada Becomes First to Signal Exit From StimulusFor Greg Anderson, strategist at Bank of Montreal, the loonie is likely to remain supported and may strengthen to 1.2470, with an eye toward 1.2450 as the central bank did not push back on its strength in the policy statement. The loonie rose 0.9% to 1.2495 per dollar at 3:47 p.m. in New York.“I thought the bank might try to complain about or argue against CAD strength -- it didn’t,” Anderson said. “The bank merely made the factual statement that CAD had rallied alongside commodity prices. Based on that, I’m slightly less worried about the BOC trying to push back against CAD strength in the future.”(Updates prices, adds Bank of Canada chief’s comments in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Prices could rise in some parts of the UK after the supermarket's takeover, the competition watchdog says.
(Bloomberg) -- Dollar bears are making a comeback as falling Treasury yields handcuff the reserve currency. Technical indicators suggest the decline may extend.The Bloomberg Dollar Spot Index climbed 0.1% Tuesday after falling for the previous six sessions in its longest losing streak since June. The index was pressured lower after Treasury 10-year yields dropped almost 15 basis points since the end of March. Leveraged traders have slashed bullish positions, according to the latest data from Commodity Futures Trading Commission.“The U.S. dollar is breaking down through important levels,” John Hardy, head of FX strategy at Saxo Bank, wrote in a note. “As long as the U.S. Treasuries threat remains neutralized, we could be set for a significant move lower here in the U.S. dollar.”Should a correlation between U.S. yields, bond volatility and the dollar extend, it could mean more weakness for the currency, according to an analysis by Citigroup Global Markets Inc. A recent break in a key technical formation known as a double top also appears bearish, the firm’s analysts said. Meanwhile risk reversals -- a measure of sentiment and positioning -- are pointing to more losses.The shift comes after an inflation-fear-induced surge in Treasury yields forced funds to abandon their dollar short bets last month. Recent solid U.S. economic data have, however, failed to push yields higher, eroding one of the greenback’s biggest appeals.Here’s a look at why the dollar’s drop may not be over as yet:Risk ReversalsOne-month risk reversals for the Bloomberg Dollar Spot Index on Tuesday day touched the lowest since early January, pointing toward more downside risks. The gauge reflects demand for greenback exposure and is heading toward its year-to-date low. A drop below that could mean more losses.Double TopThe Bloomberg dollar gauge completed a major double-top formation by breaking below a key trendline. That move opens the door to the February 2021 low of 1119, and if that is broken through, the decline may extend to the pivotal range of 1110-1112, Citigroup’s Lauren Jung said Monday. That includes the lows from 2018 and January 2021.The BBDXY index has tracked U.S. yields this year, which also has been moving in tandem with lower bond volatility as seen in the ICE BofA MOVE Index. A continuation of that move should mean more pressure for the greenback.Dollar bull Trevor Greetham, head of multi asset at Royal London Asset Management, said U.S. stimulus will once again push Treasury yields higher after a pause, but for now, he’s “open-minded to a period of dollar weakness” amid the global economic recovery.Speculators ShiftLeveraged traders pulled back on their bullish position last week, after flipping from a bearish stance in March, according to the latest data from Commodity Futures Trading Commission. They cut holdings back to 1,145 contracts, after it surged to as high as 23,067 contracts last month.(Updates levels throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Australian Clinical Labs Ltd., a private pathology business, is looking to raise A$408.6 million ($316 million) in what would be Australia’s biggest initial public offering this year.The company has set the price at A$4 per share, valuing it at A$809.3 million, according to terms of the deal obtained by Bloomberg News. At this level, the offering will overtake flower and plant wholesaler Lynch Group Holdings Ltd.’s A$206.1 million IPO earlier this month, data compiled by Bloomberg show.While paling in comparison with larger IPO markets like Hong Kong, Australian first-time share sales have had a better start to the year than in 2020, with $629 million raised compared to just $72 million last year. In fact, it’s the best start to the year for the country’s IPOs since 2014, when almost $700 million had been raised, the data show.Australian Clinical Labs plans to use the proceeds from the IPO to pay selling shareholders for the acquisition of existing shares, repay existing debt and pay transaction costs, the terms show.The company will start taking order from institutional investors on April 27 and begin trading on May 14. Bank of America Corp. and Goldman Sachs Group Inc. are joint lead managers for the offering.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Prescription eyewear seller Warby Parker is considering an initial public offering as soon as this year, according to people familiar with the matter.The New York-based company is in discussions with advisers on a potential listing, the people said, asking not to be identified as the information is private.JAND Inc., which does business as Warby Parker, raised $120 million in its most recent funding round in 2020, giving it a value of $3 billion, according to PitchBook data. The company is targeting a valuation higher than that of its last fundraising, the people said.Deliberations are at an early stage and the company could decide not to pursue an offering, the people said.“We’ve always explored various financing opportunities in both the debt and equity markets,” a Warby Parker spokesperson said in response to a request for comment. “We’ll continue to make strategic decisions in line with our commitment to sustainable growth.”Launched in 2010 by a group of four classmates at the University of Pennsylvania’s Wharton School, Warby Parker sells low-cost prescription eye glasses and contact lenses. The company, considered a pioneer of direct to consumer e-commerce, retails its products in the U.S. and Canada through its website as well as a network of physical outlets.Shoemaker Allbirds Inc., mattress-seller Casper Sleep Inc. and makeup brand Glossier Inc. are some other companies that fall into this direct-to-consumer category. Some former Warby Parker employees went on to found luggage startup Away. Warby Parker has also spawned a lot of competition in the eyewear space, with other upstart companies coming out with similar frames at cheaper prices.Its investors include General Catalyst, Tiger Global Management, Forerunner Ventures, Spark Capital and Menlo Ventures.(Updates with context in starting in seventh paragraph. The company’s parent company name was corrected in an earlier version of this story.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Daniel Dines struggled with life in the U.S. after leaving his native Romania in 2001 to work for Microsoft Corp., but the experience created the foundation for one of the world’s biggest fortunes.The software programmer returned to his homeland in 2005 to start the business known today as UiPath Inc., an automation-software maker that debuts Wednesday after raising $1.3 billion in a U.S. initial public offering. Dines, the company’s chief executive officer, controls a stake worth more than $6 billion, according to data compiled by Bloomberg.“For someone coming in his 20s to the U.S. from Europe, it was a big challenge for me to adapt to the States, even though professionally speaking my experience at Microsoft was great,” Dines, 49, said last year at the annual Montgomery Summit technology conference.As a result, “I had a crazy idea to go back and start a company,” he added.‘Hidden Advantage’UiPath, which was valued at $7 billion in 2019, is now worth about $30 billion after its shares priced at $56, above a marketed range. That puts Dines among the world’s 500 richest, according to the Bloomberg Billionaires Index. A company representative declined to comment.“Starting a company from a small place with no market has a hidden advantage: It forces you to think globally from day one,” Dines said in a letter included in UiPath’s registry filings for its listing. He had already indicated his company was preparing for a listing back in early 2020.The company’s software performs many low-skilled tasks that businesses once outsourced to humans in cheaper-wage countries such as India or the Philippines. Known as robotic process automation technology, the technique takes over repetitive, routine data-entry and processing tasks. Some of its software has been used in hospitals and health-care projects to help with Covid-19, according to UiPath’s website.Dines, who studied math and computer science at the University of Bucharest, grew up in Romania while the nation was still ruled by dictator Nicolae Ceausescu. He founded the company as DeskOver and renamed it UiPath in 2015, running it out of an apartment in the capital before relocating its headquarters to New York in 2017.Funding RoundUiPath raised $750 million in a funding round led by Alkeon Capital and Coatue that gave it a value of $35 billion, according to a February statement. Altimeter Capital Management, Dragoneer, IVP, Sequoia Capital, Tiger Global Management and funds advised by T. Rowe Price Associates also chimed in.Dines owns all of the company’s Class B shares, which carry 35 votes apiece compared with one each for Class A stock. He will continue to control UiPath after the IPO and sold shares in the offering worth about $75 million, according to filings. “You have to become a public company at some point to allow your employees to get more liquidity, give them stock options,” he said in an interview with Bloomberg last year. “We’re almost there.”(Adds details of share sale in penultimate paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Bitcoin is setting up for a near-term downturn that could see it shed a good chunk of its recent gains, even if the longer-term outlook appears healthy for the world's No. 1 crypto.
The owner of the MailOnline site alleges the search engine has hidden links to its coverage on certain topics.
Searches for the phrase, 'When is the housing market going to crash?' are up 2,450% over the past month.
Some Americans who received a federal tax break on their unemployment last year may have to file an amended return to get their refund.
It was a dollar or bust for the dogecoin community on Wednesday --- and now it seems as if dogecoin fanatics are just left with the bust. However, a failed attempt at producing an epic rally in doge doesn't seem to have deflated the staunchest supporters of the parody coin.
A deep freeze that swept parts of the United States last quarter knocked out nearly half of Texas power plants and sent prices for natural gas and electricity to record levels. Kinder Morgan benefited from the shortage as it released gas and sold electricity at prices that were hundreds of times higher than normal for several days.
It seems that all year I’ve been warning about valuations being out of whack with reality, especially in small-cap tech, which includes most SPACs. SPACs are being slammed as former “diamond hands” turn into weak-handed sellers who are (rightly, in most cases) trying to stop losses that are piling up in their portfolios. Speaking of SPACs, the markets are still suffering from SPAChaustion and a Coinbase Overhype Top, as I’ve also been saying for a few weeks now.
Company Also In Talks To Acquire Cannabis Mobile Delivery Services To Utilize Shrucoin Pay As Method Of Payment: Will Allow Company To Enter Into The Rapidly Growing Global Cannabis Dispensary Delivery Services Market Which Is Expected To Reach $30 Billion By 2024 ANN ARBOR, MI / ACCESSWIRE / April 21, 2021 / Minerco, Inc. "The Magic Mushroom Company" (OTC PINK: MINE) today announced that it has launched Shrucoin Pay (https://shrucoinpay.com) a payment services platform that allows merchants in the Cannabis and Psychedelic sales market to receive Bitcoin, Ethereum, Bitcoin Cash, Litecoin, DASH, and EOS for online payments that go straight into the merchant's accounts. Julius Jenge, Chief Executive Officer of Minerco, Inc., said: "Shrucoin Pay, a global network that eliminates fraud, provides a quick, easy, and cost-effective way for merchants to receive crypto payments from customers without the risk of volatility exposure. Leveraging our frictionless, blockchain-based payment processing technology, the cryptocurrency will automatically and instantaneously be converted to a fiat currency of the merchants' choice and deposited directly into their bank accounts. Whether the merchant is an eCommerce business looking to accept crypto or a freelancer hoping to gain a competitive edge by enabling Bitcoin payments on its invoices, Shrucoin Pay enables them to seamlessly receive cryptocurrency payments - securing market share today and for the years to come." He continued: "We have also decided to enter into the rapidly growing global cannabis dispensary delivery services market to maximize the value of Shrucoin Pay. Cannabis companies that provide delivery services - including delivery operators and retailers - are seeing an ever-increasing amount of orders as customers stock up on marijuana products in the wake of coronavirus pandemic concerns, plus the reports project substantial increases in the global licensed dispensary market, predicting that by 2024 the global licensed dispensary sales of cannabis will reach $40.6 billion." Not only do we have the payment method, but we also provide the digital blockchain technology required. A cannabis dispensary delivery provider must adhere to multiple local, state, and national regulations, including licensees, transportation, and delivery requirements. Our digital blockchain digital supply chain technology apps will address these issues and allow the Company to be compliant and adhere to the regulations across all national markets." To be added to the Company's investor email lists, please email email@example.com. About Minerco, Inc. Minerco, Inc., "The Magic Mushroom Company" (OTC Pink: MINE), is the pioneering company specializing in the research, production, and distribution of psilocybin mushroom products ("Magic Mushrooms"). The Blockchain token SHRU can be used for purchases relating to psilocybin and cannabis. SHRU can be purchased at www.shrucoin.com. Consumers can also utilize the SHRUCOIN Pay app by visiting www.shrucoinpay.com. To learn more about Minerco, Inc. please visit www.minercoinc.com. SITE IS NOT UP To learn more exciting info about Minerco, click here. Follow us on twitter @minercoinc Investor relations firstname.lastname@example.org MINERCO, INC. FORWARD-LOOKING STATEMENTS This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect," "intend," "plan," "estimate," "anticipate," "believe," "should," or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Minerco Investor Relations Phone: 323-380-4500 See more from BenzingaClick here for options trades from BenzingaAlterity's Stock Is Trading Higher As ATH434 Preserves Neurons, Motor Performance In Animal Model With Neurodegenerative DisorderCoinbase Now Offers Ethereum 2.0 Staking Rewards© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The long-term upward trend in the markets is marked; the S&P 500 is up 51% over the last 12 months, even taking into account some recent slips. For investors, this makes the present a propitious time to seek out low-cost market segments with high return potential. Or in other words, to take the old time advice and buy low to sell high. Jefferies equity strategist Steven DeSanctis, in a recent note on small-cap market themes, points out that this segment is attracting investor notice. "We are seeing interest in the size segment and hearing that institutional investors are really interested in adding assets to the size segment. This makes sense to us, as small caps as a percentage of total US equity market exposure is still running well below its 90- year history as investors clamored for large caps, large growth, and the FAANG names. We estimate over $38B has come into small caps over the last five months, the largest inflow since we started tracking the data back to 2006, representing 4.6% of total assets, close to an all-time high. We also estimate about 45% of all flows go towards passive investing, and this drives the performance," DeSanctis wrote. And this brings us to penny stocks, those low-cost equities priced below $5 per share – are a high-stakes opportunity with upsides that frequently approach several hundred percent and a low enough cost of entry to mitigate the attendant risk. These stocks are priced low for a reason, but for those that break out, the rewards are tremendous. With this in mind, we used TipRanks’ database to zero in on only the penny stocks that have received bullish support from the analyst community. We found two that are backed by enough analysts to earn a “Strong Buy” consensus rating. Not to mention each offers up massive upside potential. ADMA Biologics (ADMA) We'll start with ADMA Biologics, an end-to-end biopharmaceutical company, which develops and commercializes blood plasma-derived products that can be used to treat infectious disease – and more important, to help prevent such diseases in the first place. ADMA, in 2020, saw the expansion of two products for the treatment of primary humoral immunodeficiency (PI). These products, Asceniv and Bivigam, are both derived from human blood plasma and deliver immune globulin to the patient through intravenous injection. In any business, success is measured in cash. ADMA achieved that, reporting a 44% year-over-year increase in total revenues for 2020, with the top line reaching $42.2 million. This was driven by increased sales of the company’s main intra-venous immune globulin (IVIG) products. Going forward, ADMA recognizes the underlying fact of its products – that they are derived from human blood products, and so are dependent on voluntary donations. The company currently has 7 plasma collection centers in operation, with COVID safeguards in place, and plans to open two more this year. Longer-term expansion plans include opening 10 additional centers by 2024. Currently going for $1.55 apiece, the pros on the Street think that ADMA's share price presents investors with an attractive entry point. Among the bulls is Maxim's 5-star analyst, Jason McCarthy, who sees a clear path forward for the company. “Management is executing on its strategy and off the heels of a positive, but COVID-19 impacted year, ADMA is poised for a breakout in 2021. Multiple initiatives should drive revenue and margin acceleration. In particular, ASCENIV’s new J-code and multiple manufacturing initiatives, including the new fill-finish machine and BIVIGAM’s capacity expansion to ~4,400 L, should drive sales and margin acceleration in 2H21," McCarthy opined. The analyst added, "There is valuation disconnect between the company’s plasma collection facilities + sales potential vs. the market cap, in our opinion. Grifols recently acquired 25 US-based plasma centers for ~$370M, valuing each center at ~$15M. ADMA has 7 centers in various stages of development/ approval, and is planning to expand to 10 fully operational by 2024. The company is already on a ~$55M run-rate, with accelerating sales and on pace for potentially ~$250M by 2024. Management is executing, and we believe the intrinsic value of the plasma facilities and approved products already should exceed the company’s market cap." In line with these expectations, McCarthy rates ADMA a Buy, and his $6 price target indicates confidence in a robust 266% growth potential for the coming year. (To watch McCarthy’s track record, click here) It’s clear from the analyst consensus that McCarthy is no outlier on this stock. ADMA has 4 recent reviews on record, and all are to Buy, making the consensus rating a unanimous Strong Buy. The $7.67 average price target is even more bullish than McCarthy’s, and suggests a one-year upside of 393%. (See ADMA stock analysis on TipRanks) Catalyst Biosciences (CBIO) The next stock we’ll look at, Catalyst Biosciences, works in the biopharmaceutical industry, where it researches unmet needs in rare disorders of the complement and coagulation systems. The company has a protease engineering platform, and its hemostasis development program includes two late-stage clinical tracks. The complement pipeline is still in preclinical development, and includes four separate drug candidates. Catalyst has seen a major milestone back in December last year, when the FDA granted Fast Track Designation for the the company’s most advanced pipeline product, marzeptacog alfa (activated), or MarzAA. The fast track designation will allow Catalyst more opportunities to work hand in hand with the FDA in MarzAA's development and could involve a priority review if it meets its endpoints in studies. MarzAA is a next-gen engineered coagulation Factor VIIa for the treatment of episodic bleeding in hemophilia patients. It is currently entering a Phase 3 trial with plans to enroll 60 subjects. The company anticipates sending its final report to the Data and Safety Monitoring Board in mid-2022. CBIO's strong pipeline has scored it substantial praise from Piper Sandler analyst Tyler Van Buren. "In our view, the catalytic power of the company's protease platform continues to be underappreciated due to lack of familiarity. First up in 2021, we look forward to data from the MarzAA Phase III trial, which could support a 2023 approval. The Phase I/II trial in Glanzmann thrombasthenia (1,600+ patients) and other indications will also get underway. For Catalyst's complement-targeting proteases, we expect an observational trial to begin shortly in CFI deficiency, which should provide a bolus of patients to enroll in a Phase I for CB 4332 next year. There is also significant upside potential from expansion of CB 4332 into other indications, and from the rest of the complement franchise which includes CB2782-PEG, a novel anti-C3 protease for dry AMD, and other C4b degraders," Van Buren wrote. With the active development program in mind, the analyst summed up, “Bottom line, we… recommend that investors accumulate shares ahead of the upcoming study initiations and clinical readouts throughout the year.” Those bullish comments back the analyst’s Overweight (i.e., Buy) rating on the stock. His price target, of $15, implies an upside of 229% for the next 12 months. (To watch Van Buren’s track record, click here) What does the rest of the Street think about CBIO's prospects? It turns out that other analysts agree with Van Buren. The stock received 4 Buys in the last three months compared to no Holds or Sells, making the consensus rating a Strong Buy. CBIO shares are currently trading at $4.69, and the $18.50 average price target brings the upside potential to 296%. (See CBIO stock analysis on TipRanks) To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.