Top Ranked Momentum Stocks to Buy for June 8th

Reuters
Big U.S. oil drillers have federal permits to mute effect of any Biden ban
U.S. President Joe Biden's promised ban on new oil and gas drilling on federal lands would take years to shut off production from top shale drillers because they already have stockpiled permits, according to Reuters interviews with executives. But smaller independent oil drillers without the resources of big corporations were more worried about Biden's vow to toughen regulations and stop issuing new permits on federal lands, part of his sweeping plan to combat climate change and bring the economy to net zero emissions by 2050. Federal lands are the source of about 10% of U.S. oil and gas supply.
5h ago
TheStreet.com
Jim Cramer: Here Are the Biden Stocks
As power has changed hands in the White House, we can expect these names -- and themes -- to benefit.
18h ago
Oilprice.com
The Biden Boom Is Coming And These Stocks Could Soar
With the Biden Administration likely to pump trillions into green energy infrastructure in the coming years, renewable stocks should outperform the market
18h ago
MarketWatch
If I inherit a Roth IRA, are the distributions taxed?
Q: When the inheritor of a Roth IRA receives the funds, is it true that the distributions would not be taxed? It would be unusual for any taxes to be due on an RMD from an inherited Roth IRA. The only portion of an inherited IRA that could be subject to tax is earnings.
2h ago
Yahoo Finance
Tesla isn't the only auto stock exploding right now
Other auto stocks joins in the impressive rally in Tesla's stock. Here's why.
4h ago
Yahoo Finance
Powerball winner in Maryland should remember this before cashing the $730 million ticket: expert
Be wise with how you allocate your money, $730 million Powerball winner.
1h ago
LA Times
Column: What happens to businesses when their CEOs become extremists?
My Pillow CEO Mike Lindell is the latest business leader to discover the downside of becoming a crank.
23h ago
Benzinga
Looking Into Celsion's Return On Capital Employed
Celsion (NASDAQ:CLSN) reported Q3 sales of $125.00 thousand. Earnings fell to a loss of $4.16 million, resulting in a 12.74% decrease from last quarter. In Q2, Celsion brought in $125.00 thousand in sales but lost $4.77 million in earnings.What Is ROCE? Return on Capital Employed is a measure of yearly pre-tax profit relative to capital employed by a business. Changes in earnings and sales indicate shifts in a company's ROCE. A higher ROCE is generally representative of successful growth of a company and is a sign of higher earnings per share in the future. A low or negative ROCE suggests the opposite. In Q3, Celsion posted an ROCE of -0.22%.Keep in mind, while ROCE is a good measure of a company's recent performance, it is not a highly reliable predictor of a company's earnings or sales in the near future.View more earnings on CLSNROCE is an important metric for the comparison of similar companies. A relatively high ROCE shows Celsion is potentially operating at a higher level of efficiency than other companies in its industry. If the company is generating high profits with its current level of capital, some of that money can be reinvested in more capital which will generally lead to higher returns and earnings per share growth.In Celsion's case, the ROCE ratio shows the amount of assets may not be helping the company achieve higher returns. Investors may take this into account before making any long-term financial decisions.Q3 Earnings Recap Celsion reported Q3 earnings per share at $-0.17/share, which did not meet analyst predictions of $-0.13/share.See more from Benzinga * Click here for options trades from Benzinga * 12 Health Care Stocks Moving In Thursday's Pre-Market Session * 12 Health Care Stocks Moving In Wednesday's After-Market Session(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
3h ago
Benzinga
ROCE Insights For Obalon Therapeutics
Obalon Therapeutics (NASDAQ:OBLN) reported Q3 sales of $44.00 thousand. Earnings fell to a loss of $1.56 million, resulting in a 62.5% decrease from last quarter. Obalon Therapeutics collected $703.00 thousand in revenue during Q2, but reported earnings showed a $4.16 million loss.What Is ROCE? Changes in earnings and sales indicate shifts in Obalon Therapeutics's Return on Capital Employed, a measure of yearly pre-tax profit relative to capital employed by a business. Generally, a higher ROCE suggests successful growth of a company and is a sign of higher earnings per share in the future. In Q3, Obalon Therapeutics posted an ROCE of -0.26%.It is important to keep in mind ROCE evaluates past performance and is not used as a predictive tool. It is a good measure of a company's recent performance, but several factors could affect earnings and sales in the near future.View more earnings on OBLNReturn on Capital Employed is an important measurement of efficiency and a useful tool when comparing companies that operate in the same industry. A relatively high ROCE indicates a company may be generating profits that can be reinvested into more capital, leading to higher returns and growing EPS for shareholders.For Obalon Therapeutics, the return on capital employed ratio shows the current amount of assets may not actually be helping the company achieve higher returns, a note many investors will take into account when making long-term financial decisions.Q3 Earnings Recap Obalon Therapeutics reported Q3 earnings per share at $-0.2/share, which did not meet analyst predictions of $-0.07/share.See more from Benzinga * Click here for options trades from Benzinga * 12 Health Care Stocks Moving In Thursday's Pre-Market Session * 12 Health Care Stocks Moving In Wednesday's Intraday Session(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
3h ago
MoneyWise
Your next stimulus check — for $1,400 — is about to start moving closer
Congressional leaders plan to get "right to work" on it. How soon might you get the cash?
1d ago
TipRanks
2 “Strong Buy” Penny Stocks That Could See Outsized Gains
Well, it’s official. Joe Biden is now President, and he’ll be backed – at least for the short term – by Democratic majorities in both Houses of Congress. Wall Street is taking the measure of the new Administration, and sees, among its first moves, a boost in fiscal stimulus that is likely to goose consumer spending, bump corporate profits, and provide general economic support in the first half of 2021. Covering the situation for Goldman Sachs is investment strategist David Kostin, who is bullish on the near-term prospects for fiscal stimulus. In light of it, Kostin sets the Goldman outlook for this year at 6.4% GDP growth; he sees continued high growth next year, and sets the 2022 prediction at 4%. These outlook numbers are up from the previously published 5.9% and 3.7%. To this end, Kostin sees S&P 500 reaching 4,300 by year’s end, which would be a gain of 12% from current levels. “Elections have consequences. Democratic control of Washington, D.C. after January 20 will bring greater fiscal spending, faster GDP growth, more inflation, and higher interest rates than we had previously assumed,” Kostin noted. With markets looking up, investors are looking for the stocks that are ready for gains. Penny stocks, equities priced at less than $5 per share, are a natural place to search for potential winners. Their low price means that even a small incremental gain will translate into large percentages. However, before jumping right into an investment in a penny stock, Wall Street pros advise looking at the bigger picture and considering other factors beyond just the price tag. For some names that fall into this category, you really do get what you pay for, offering little in the way of long-term growth prospects thanks to weak fundamentals, recent headwinds or even large outstanding share counts. Taking the risk into consideration, we used TipRanks’ database to find compelling penny stocks with bargain price tags. The platform steered us towards two tickers sporting share prices under $5 and “Strong Buy” consensus ratings from the analyst community. Not to mention substantial upside potential is on the table. AzurRx BioPharma (AZRX) We’ll start with a company specializing in gastrointestinal disease, AzurRx. This company is focused on creating non-systemic, targeted recombinant therapies for GI ailments. AzurRx has a pipeline of three drug candidates, at several levels of the development process. The key pipeline candidate, MS1819, is being investigated as a treatment for exocrine pancreatic insufficiency for patients also suffering from cystic fibrosis. MS1819 is a recombinant lipase, derived from a yeast strain. The drug is designed to target fat molecules in the digestive tract, allowing patients to absorb the broken-down fats for nutritive value. The drug is currently in Phase 2 trials, which are scheduled for completion in the first half of this year. As of January 21, the first two patients in the Phase 2b OPTION 2 extension study have been dosed with the treatment, and the Data Monitoring Committee (DMC) “remains supportive of the program.” In another important development, AzurRx announced earlier this month that it is entering a partnership with First Wave Bio to study oral and rectal formulation of Niclosamide to treat immune checkpoint inhibitor-associated colitis (ICI-AC) and COVID-19 related gastrointestinal infections. The estimated market for Niclosamide as a treatment for COVID-related GI problems exceeds $450 million. Based on multiple potentially significant clinical catalysts as well as its $0.98 share price, several members of the Street think that now is the right time to pull the trigger. Jonathan Aschoff, of Roth Capital, is bullish on AzurRx, basing his longer-term forecasts on the probable success of MS1819. “We base our valuation for AZRX on projected future U.S. sales from MS1819 for the treatment of EPI due to CF and CP, using an initial annual price of about $18,000, a price that is consistent with currently available PERTs. We project MS1819 to be commercialized in the U.S. in 2023, generating sales of $272 million in 2030. Ex-U.S. commercial success for MS1819, or commercial success from the early-stage beta-lactamase program would provide upside to our valuation,” Aschoff noted. The analyst also looks forward to initial clinical results of Niclosamide in COVID-19 GI infection and in ICI-AC potentially, noting: "Niclosamide was FDA approved in 1982 to treat intestinal tapeworm infections and is on the World Health Organization’s list of essential medicines. Given the millions of patients that have taken the drug, the safety profile has largely been established, thereby lowering developmental risk.” Given all of the above, Aschoff rates AZRX as a Buy, and his $7 price target suggests a sky-high 608% upside for the year ahead. (To watch Aschoff’s track record, click here) Overall, the analyst consensus on AZRX shares is a Strong Buy; the stock has 4 recent reviews, including 3 Buys and a single Hold. In addition, the $4 average price target brings the upside potential to 304%. (See AZRX stock analysis on TipRanks) ProQR (PRQR) ProQR is a biotechnology company focused on treatments for congenital progressive blindness. Specifically, the firm is working on medications to reverse a group of genetic sight disorders called inherited retinal diseases. These diseases currently have no effective treatments. The company has a research pipeline of five drug candidates, in varying stages of the research process. The two that are farthest along are QR-110 (Sepofarsen), and QR-421. Of those two, QR-110 is currently in Phase 2/3 studies. This candidate is an RNA therapy designed to correct the most common CEP290 gene mutation causing Leber congenital amaurosis 10 (LCA10). This is a severe genetic retinal disease that affects as many as 3 in 100,000 children. QR-421 is another RNA therapy, this one focused on exon 13 mutations in the USH2A gene. These mutations cause blindness due to retinitis pigmentosa and/or Usher syndrome. QR-421 is in Phase 1/2 studies, with an aim of restoring lost vision or preventing the loss in the first place. Covering the stock for JMP, analyst Jonathan Wolleben points to Sepofarsen as a key component of his bullish thesis. “We continue to feel good about sepofarsen’s chance of success in Illuminate for multiple reasons: 1) Phase 1/2 confirmed the target registrational dose and dosing interval (6 months); 2) patients had clinically significant and durable BCVA improvements after 12 months – pivotal primary endpoint; 3) supportive secondary efficacy measures (FST, mobility); 4) similar responses seen in second treated eyes; 5) long-term safety confirms positive risk/benefit; and 6) Illuminate patient population was enriched based on Phase 1/2 results (baselinevision of >/=hand motion). We assign sepofarsen a 60% POS and model LCA10 as an ~$300M opportunity to PRQR at peak penetration," Wolleben opined. In line with his upbeat outlook, Wolleben puts a $20 price target on the stock, implying a 384% one-year upside, along with an Outperform (i.e. Buy) rating. (To watch Wolleben’s track record, click here) All in all, PRQR gets a unanimous Strong Buy rating from the analyst consensus, based on 3 positive stock reviews. Shares are currently trading for $4.13, and their $20.67 average price target is slightly more bullish than Wolleben’s, suggesting an upside of 400% for the coming 12 months. (See PRQR stock analysis at 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.
3h ago
MarketWatch
GameStop's stock spikes up after short seller Citron cancels livestream, then pulls back
Shares of GameStop Corp. spiked higher midday trading Thursday, before erasing most of their gains, as widely followed short-seller Citron Research's planned livestream, in which five reasons to sell the video game and consumer electronics retailer's stock were expected to be highlighted, was canceled. The livestream, which was originally planned for Wednesday at 11:30 a.m. Eastern, was delayed to Thursday so as not to interfere with President Joe Biden's inauguration. But given technical difficulties, the livestream was delayed slightly, then canceled. "Too many people hacking Citron twitter, will record and post later today. $GME going to $20 buy at your own risk," Citron tweeted. The stock was trading up about 3.0% just before 11:30 a.m. ET, then spiked up as much as 14.4% to an intraday high of $44.75 as the livestream failed to proceed, before paring gains. The stock was recently up 0.9%. It has tripled (up 201.8%) over the past three months, while the S&P 500 has gained 12.2%.
1h ago
Investor's Business Daily
Is Boeing Stock A Buy Ahead Of Earnings With 737 Max Back In Service?
Is Boeing stock a good buy now as the 737 Max grounding is lifted? Look at the aerospace giant's fundamentals and stock chart.
1h ago
NerdWallet
The Property Line: Biden Housing Plans Include Down Payment Help
It’s hard to afford a house if you’re a first-time buyer. The Biden administration has a plan for that: giving first-timers up to $15,000 to apply toward a down payment.…
3h ago
MoneyWise
A survey says we're keeping too much money in cash — do this instead
You can be too safe with your money, even during a pandemic.
1d ago
Bloomberg
Biden Revokes Keystone XL Pipeline Permit to Cross U.S. Border
(Bloomberg) -- Joe Biden canceled the Keystone XL oil pipeline hours after becoming president, killing once again a cross-border project that had won a four-year reprieve under his Republican predecessor, Donald Trump.In one of his first major environmental actions, Biden on Wednesday revoked TC Energy Corp.’s pipeline permit, according to a person familiar with the orders Biden signed.The move brings Keystone’s fate full circle, repeating a decision made in 2015 by President Barack Obama to keep the pipeline from crossing the border. Trump reversed that in 2017 on his fourth full day in office over the objections of environmental groups.TC Energy said it was “disappointed” and would suspend work on the project, leading to the layoff of thousands of workers. The decision overturns “an unprecedented, comprehensive regulatory process that lasted more than a decade and repeatedly concluded the pipeline would transport much-needed energy in an environmentally responsible way,” said the Calgary-based company.TC Energy shares closed down 1.15%, to C$55.92 in Toronto trading.Environmentalists are counting on the latest rejection -- coming more than a dozen years since the pipeline was first proposed -- to stick. They argue the project would provide an outlet for heavy Canadian oil sands crude extracted in Alberta through particularly energy-intensive processes that ratchet up its carbon footprint.“Putting a stop to the dirty and dangerous Keystone XL tar sands pipeline immediately and once and for all would be an important first step and testament to the leadership of the diverse grassroots movement that has long pushed to stop it and other harmful pipelines,” said Tiernan Sittenfeld, a senior vice president with the environmental group League of Conservation Voters.The U.S. Chamber of Commerce was critical of the decision.“The pipeline -- the most studied infrastructure project in American history -- is already under construction and has cleared countless legal and environmental hurdles,” Marty Durbin, president of the chamber’s Global Energy Institute, said in a statement. “This is a politically motivated decision that is not grounded in science.”Biden promised the action on the campaign trail, yet his formal step still provoked outrage from oil industry leaders, some Canadian interests and labor unions that support the project.“The Biden administration has chosen to listen to the voices of fringe activists instead of union members and the American consumer on Day 1,” said the United Association of Union Plumbers and Pipefitters in an emailed statement based on news reports before the action.Construction of Keystone XL already began last year, jump started with a $1.1 billion investment by the province of Alberta. Whole segments of the line, including one that crosses to U.S.-Canadian border, have already been built.TC Energy has worked to make the project more palatable to a Democratic administration, inking labor agreements with four major pipeline unions last August, agreeing to sell an equity stake in the line to indigenous communities along the route and promising to power it entirely with renewable energy.Still, Keystone XL has been a lightning rod for controversy and a litmus test for environmentalism almost since it was first proposed in 2005. The 1,179 mile (1,897 kilometer) segment is designed to move oil from Alberta through Montana, South Dakota and Nebraska, then connect with an existing network feeding crude to the Gulf Coast. The line would carry as much as 830,000 barrels of oil a day.Opponents argue it will stimulate oil sands development, contributing to climate change.Years ago, proponents of the controversial crude pipeline argued that more of Canada’s cheaper, heavy crude would help fuel producers on the U.S. Gulf Coast wean off supplies from countries like Venezuela or the conflict-prone Middle East.But refiners in Texas and Louisiana have become increasingly flexible, using more of the abundant light oil from shale fields. Plus, Canadian crude’s price advantage has narrowed, and imports from the country have roughly doubled in a decade to a steady flow of more than 3.5 million barrels a day, without Keystone XL.“It’s not an issue for refiners,” said Robert Campbell, head of oil products research at Energy Aspects Ltd. “They can switch into domestic light. The hurt would be on oil sands producers.”Sandy Fielden, director of oil research at Morningstar Inc., said doing away with Keystone in the short run won’t affect the supply of Canadian oil because of plans to expand another line and use existing infrastructure.“Those will be sufficient to meet local needs at least for now,” Fielden wrote in a statement. “If anything, scrapping the Keystone XL system would favor U.S. buyers since it would cause a backup of supplies in Canada that would ultimately pressure prices lower and more attractive.”From the archive -- Why the Keystone Project Is Controversial: QuickTakeCanadian Prime Minister Justin Trudeau expressed disappointment in the pipeline decision.“While we welcome the president’s commitment to fight climate change, we are disappointed,” Trudeau said in a statement. “I look forward to working with President Biden to reduce pollution, combat climate change, fight COVID-19, create middle class jobs, and build back better by supporting a sustainable economic recovery for everyone.”Keystone XL was one of only a handful of energy and mining projects Biden took an explicit stand against while on the campaign trail. Environmentalists emboldened by his move on Keystone are already pressuring him to revoke a critical authorization allowing continued operation of Energy Transfer LP’s Dakota Access oil pipeline and take action against Enbridge Inc.’s plan to replace and expand its aging Line 3 pipeline from Alberta to Superior, Wisconsin.“It’s exciting news,” said Dallas Goldtooth, an organizer with the Indigenous Environmental Network. “Now what are you going to do about Line 3 and the Dakota Access pipeline? We are happy, but we want to see what comes next.”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.
19h ago
Investor's Business Daily
Is JNJ Stock A Buy As It Nears Phase 3 Covid Vaccine Test Results?
Johnson & Johnson is expected in late January to unveil Phase 3 study results for its coronavirus vaccine — leading JNJ stock to a record high. So, is Johnson & Johnson stock a buy?
6h ago
MoneyWise
12 red flags that could lead to an IRS audit
IRS audit flags can stem from things you do — or don't do — when filing your tax return.
20h ago
Yahoo Finance
Amazon stock price target raised to $4,000 at BofA
Amazon (AMZN) stock has room to grow, with the e-commerce giant’s cloud service likely to be a positive driver in 2021, according to one BofA analyst. Justin Post raised his price target on the stock to $4,000 from $3,650, while maintaining a Buy rating. Shares were trading 2% higher during Thursday’s session.
15m ago
MarketWatch
If you support green energy, you should buy utilities and oil stocks — here’s why
The fossil-fuel divestiture movement grabbed headlines in December when New York’s state comptroller said the $226 billion New York State pension fund plans to drop many of its fossil-fuel stocks in the next five years and sell shares in other companies that contribute to global warming. The fund owns stakes in big oil — stocks like Exxon Mobil (XOM) and Chevron (CVX) as of Sept. 30, according to Holdings Channel — and shunning fossil-fuel investment is a hallmark of longtime socially responsible mutual funds.
5h ago

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Top Ranked Momentum Stocks to Buy for June 8th

Latest Stories

Big U.S. oil drillers have federal permits to mute effect of any Biden ban

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If I inherit a Roth IRA, are the distributions taxed?

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Column: What happens to businesses when their CEOs become extremists?

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Your next stimulus check — for $1,400 — is about to start moving closer

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GameStop's stock spikes up after short seller Citron cancels livestream, then pulls back

Is Boeing Stock A Buy Ahead Of Earnings With 737 Max Back In Service?

The Property Line: Biden Housing Plans Include Down Payment Help

A survey says we're keeping too much money in cash — do this instead

Biden Revokes Keystone XL Pipeline Permit to Cross U.S. Border

Is JNJ Stock A Buy As It Nears Phase 3 Covid Vaccine Test Results?

12 red flags that could lead to an IRS audit

Amazon stock price target raised to $4,000 at BofA

If you support green energy, you should buy utilities and oil stocks — here’s why