The greedy are, at last, getting blown out, and the prudent being vindicated. I see three buckets of stocks that intrigue me now.
The FIRE movement is a ‘motivational platform’ to get people thinking about their future financial stability, he says
ChargePoint, the world's largest provider of electric-vehicle charging stations, said on Thursday it is going public with a reverse-merger agreement worth $2.4 billion.
Johnson & Johnson, one of the world’s largest and most comprehensive manufacturers of healthcare products, said on Wednesday that it has begun its large-scale, pivotal, multi-country Phase-3 trial for its COVID-19 vaccine candidate, sending shares as high as 2%.
Legal questions now loom after electric truck entrepreneur, Trevor Milton, stepped down Monday as executive chairman and board member of his newly public company Nikola.
"It's hard to think of the possibility of saving too much, but diligent savers and investors are sometimes able to reach their savings goals prior to their actual retirement date," says Kali Hassinger, a certified financial planner at the Center for Financial Planning, Inc. in Southfield, Michigan. After reaching their goals, super savers may go above and beyond the amount needed to carry out their lifestyle as retirees. "There are rules of thumb about how much of your income you should save, but there is no one-size-fits-all savings total or threshold," Hassinger says.
A Biden presidency is a distinct possibility in 2021, which would resulting some challenges for tech companies — and one potential advantage.
Shares of SPI Energy Co. Ltd. soared 54% in premarket trading, but that paled in comparison to the 1,236.5% rocket ride on massive volume in the previous session. The stock had run up as much as 4,154% intraday on Wednesday, before paring gains, after the company, which offers photovoltaic solutions for business, residential, government and utility customers, said it was starting an electric-vehicle subsidiary, as MarketWatch's Mark DeCambre reported. The stock's trading volume about an hour ahead of Thursday's open was 2.5 million shares; on Wednesday, volume was 348.3 million shares. Meanwhile, shares of Sunworks Inc. , which also makes photovoltaic-based power systems, shot up 353% on volume of 17.5 million shares in Thursday's premarket, after climbing 50.4% on volume of 110.5 million shares on Wednesday. The stocks' rallies premarket comes while futures for the S&P 500 are slipping 0.3%.
In the investing game, it’s not only about what you buy; it’s about when you buy it. One of the most common pieces of advice thrown around the Street, “buy low” is touted as a tried-and-true tactic.Sure, the strategy seems simple. Stock prices naturally fluctuate on the basis of several factors like earnings results and the macro environment, amongst others, with investors trying to time the market and determine when stocks have hit a bottom. In practice, however, executing on this strategy is no easy task.On top of this, given the volatility that has ruled the markets over the last few weeks, how are investors supposed to gauge when a name is flirting with a bottom? That’s where the Wall Street pros come in.These expert stock pickers have identified three compelling tickers whose current share prices land close to their 52-week lows. Noting that each is set to take back off on an upward trajectory, the analysts see an attractive entry point. Using TipRanks’ database, we found out that the analyst consensus has rated all three a Strong Buy, with major upside potential also on tap.Progenity (PROG)Offering clear and actionable genetic results, Progenity specializes in providing testing services. The company started trading on Nasdaq in June and saw its shares tumbling 44% since then. With shares changing hands for $8.11, several members of the Street recommend pulling the trigger before it heats up.Piper Sandler analyst Steven Mah points out that even against the backdrop of COVID-19, PROG managed to deliver with its Q2 2020 performance. “We are encouraged by the recovery in late Q2 2020 with 75,000 accessioned tests (~79,000 in Q1 2020), driven by noninvasive prenatal testing (NIPT) and carrier screening,” the analyst noted. Expounding on this, Mah stated, “Progenity did not provide guidance, but June test volumes of ~28,000 were strong (Q1 2020 monthly average was ~26,000) which we believe showcases the durability of its reproductive tests and the success that Progenity has in co-marketing and attaching carrier screening to the more essential NIPT. Of note, despite the pandemic disruptions, Progenity was able to maintain its leading pre-COVID test turnaround times.”Additionally, health insurer Aetna is temporarily extending coverage of average-risk NIPT until year-end as a result of the pandemic, with the American College of Obstetricians and Gynecologists (ACOG) also expected to endorse average-risk in the future given its clinical utility, in Mah’s opinion.Reflecting another positive, the fourth generation NIPT (single-molecule counting assay) test was able to measure fetal fraction, a key milestone according to Mah, and will continue to be developed into 2021. As the technology could potentially be applied to DNA, RNA, epigenetic markers and proteins for additional clinical applications such as oncology, the analyst is looking forward to the completion of the preeclampsia verification in Q4 2020 and a possible 2H21 launch. “We believe preeclampsia (~2.3 billion serviceable market) is a major differentiator for Progenity, allowing them to cross-sell across the full-continuum of reproductive testing,” the analyst added.If that wasn’t enough, PROG signed its first GI Precision Medicine partnership agreement with a top-20 Pharma company in August. The Oral Biotherapeutic Delivery System (OBDS), an ingestible drug and device combination designed to precisely deliver biologics systemically through a needle-free liquid jet injection into the submucosal tissues of the small intestine, is set to be utilized as part of the collaboration. Mah commented, “We believe Progenity can sign additional Pharma deals and look forward to the newsflow coming out on this front.”To sum it all up, Mah said, “We believe Progenity shares are undervalued given the robust recovery in the core testing business and multiple upcoming growth catalysts.”To this end, Mah rates PROG an Overweight (i.e. Buy) along with a $17 price target. Should his thesis play out, a twelve-month gain of 105% could potentially be in the cards. (To watch Mah’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 4, in fact, have been issued in the last three months. Therefore, the message is clear: PROG is a Strong Buy. Given the $13.33 average price target, shares could climb 60% higher in the next year. (See PROG stock analysis on TipRanks)Tactile Systems Technology (TCMD)Developing at-home therapy devices, Tactile Systems Technology wants to provide new treatments for lymphedema, which occurs when the lymphatic system is impaired, disrupting normal transport of fluid within the body, and chronic venous insufficiency. Down 52% year-to-date, its $32.67 share price lands close to its $29.47 52-week low. Thus, with business trends improving, the Street is pounding the table.Writing for Canaccord, analyst Cecilia Furlong acknowledges that the pandemic has hampered the company, with COVID-19 weighing on both volumes and sales. In the second half of March, volumes were down 50% compared to the first half of the month, and TCMD’s patient volumes in April and May remained challenged. That being said, trends started to improve at the end of May.“Going forward, given the vast majority of TCMD’s clinician customers practice in outpatient or office-based settings, we remain positive on TCMD’s ability to demonstrate better insulation against COVID impacts and likely experience a greater bounce-back relative to overall med-tech volume trends, with TCMD further benefitting from its expanding using of technology to remotely engage with clinicians and support patients,” Furlong explained.The analyst added, “Furthermore, recent trends among some providers to prescribe Flexitouch (an advanced intermittent pneumatic compression device to self-manage lymphedema and nonhealing venous leg ulcers) earlier along the therapy process, as a means to reduce in-person contact, could provide upside near term, as well as potentially transition to a longer-term tailwind.”On top of this, Furlong is also optimistic about new CEO Dan Reuvers and the reprioritization of the company’s investment and market development efforts. TCMD will shift focus away from its acquired Airwear product line, with it redirecting investments toward its Flexitouch and Entre (a pneumatic compression device used to assist in the home management of chronic swelling and venous ulcers associated with lymphedema and chronic venous insufficiency) products.“Given significant under-penetration in the lymphedema/phlebolymphedema market targeted by Flexitouch alongside the large patient population with limited treatment options today targeted by the firm’s Head & Neck platform, we view the combination of education and clinical data as key to further developing and penetrating these markets... Going forward, we expect management to continue to compile a broad base of clinical data to support reimbursement and drive broad adoption,” Furlong commented.All of this prompted Furlong to keep a Buy rating and $62 price target on the stock. This target conveys her confidence in TCMD’s ability to soar 90% in the next year. (To watch Furlong’s track record, click here)In general, other analysts are on the same page. With 3 Buy ratings and 1 Hold, the word on the Street is that TCMD is a Strong Buy. The $62.33 average price target brings the upside potential to 91%. (See TCMD stock analysis on TipRanks)uniQure N.V. (QURE)Last but not least we have uniQure, which delivers curative gene therapies that could potentially transform the lives of patients. Even though shares have fallen 44% year-to-date to $40, not much higher than its 52-week low of $36.20, multiple analysts still have high hopes.Representing SVB Leerink, 5-star analyst Joseph Schwartz acknowledges that shares struggled after news broke of its collaboration and licensing agreement with CSL Behring for AMT-061, QURE’s gene therapy for Hemophilia B, he argues the “shareholder base turnover is likely now complete as investors and QURE shift focus to next-in-line AMT-130, its AAV5 gene therapy for Huntington’s Disease (HD).”Schwartz further added, “With the M&A premium now out of the stock, we see the QURE’s current level as an attractive buying opportunity for those investors interested in the company’s up and coming CNS gene therapies, internal manufacturing, and robust intellectual property and knowhow.”Looking more closely at the agreement with CSL Behring, QURE will be tasked with the completion of the pivotal Phase 3 HOPE-B trial as well as the manufacturing process validation and manufacturing supply of AMT-061.According to management, 26-week Factor IX (FIX) data from all 54 patients enrolled in the trial remains on track, and topline data from the pivotal trial is still slated to read out by YE20. It should be mentioned that in a Phase 2b dose-confirmation study, QURE reported 41% FIX activity out to one year. Additionally, Schwartz points out that with HOPE-B progressing as planned, QURE has continued its manufacturing process validation work ahead of the anticipated BLA/MAA submissions in the U.S. and EU in 2021.On top of this, as part of the deal, QURE is eligible to receive more than $2 billion including a $450 million upfront cash payment, $1.6 billion in regulatory and commercial milestones and double-digit royalties ranging up to the low-twenties percentage of net product sales.“With a strengthened cash position, QURE is well funded to rapidly advance CNS assets including AMT-130 (AAV5 gene therapy for Huntington’s Disease (HD)) and AMT-150 (AAV gene therapy for Spinocerebellar Ataxia Type 3/SCA3)...We continue to believe that as QURE’s CNS pipeline assets mature, the company could once again be an attractive partner to larger biopharma companies that have recently acquired many publicly traded gene therapy platforms with substantial manufacturing capabilities,” Schwartz noted.Everything that QURE has going for it convinced Schwartz to reiterate an Outperform (i.e. Buy) rating. Along with the call, he attached a $67 price target, suggesting 68% upside potential from current levels. (To watch Schwartz’s track record, click here)What does the rest of the Street have to say? 9 Buys and 3 Holds have been issued in the last three months, so the consensus rating is a Strong Buy. In addition, the $69.89 average price target indicates 75% upside potential. (See QURE stock analysis on TipRanks)To find good ideas for beaten-down 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.
Harley had spent recent months moving dealerships in the country to cheaper locations, and the announcement followed speculation in Indian media a month ago that executives had played down. The move involves $75 million in restructuring costs, some 70 redundancies and the closure of its Bawal plant, walking away from a market worth about 17 million bike and scooter sales a year. The departure is also the latest setback for Prime Minister Narendra Modi's strategy to encourage domestic manufacturing that would keep more of the fruits of a gigantic home consumer market in India.
It’s nearly open enrollment season and employees are set to take a different approach to their benefits this time around. But businesses might be doing the same and that could mean less offerings for their employees.
Nikola stock dived after a key analyst soured on the electric truck company, citing execution and Tesla risk.
For those that thought the extreme market volatility was behind us, think again. This month, another burst of volatility was brought on by concerns about the U.S. economic recovery, hefty valuations, and a second wave of COVID-19. While challenging at times, Wall Street pros believe the healthcare space is becoming more exciting, with several long-term tailwinds on the horizon.As healthcare stocks tend to be riskier in nature, we narrowed our search to include only the best of the best, according to the analyst community.TipRanks’ database revealed three such stocks that won’t break the bank; each one trades for less than $5 per share and has earned a “Strong Buy” consensus rating from the Street’s pros. Not to mention triple-digit upside potential is on the table here.VYNE Therapeutics (VYNE)Using its Molecule Stabilizing Technology (MST) platform, VYNE Therapeutics hopes to solve some of the most difficult therapeutic challenges. Given the strong performance of one of its products and its $1.52 share price, some members of the Street think that now is the time to snap up shares.Singing the healthcare name’s praises is Cantor analyst Louise Chen. “We continue to believe the market opportunity for VYNE's products and pipeline are underappreciated. Therefore, upwards earnings revisions and multiple expansion should drive VYNE shares higher, in our view,” the analyst opined.Chen is particularly excited about Amzeeq, which is the first topical minocycline product in the U.S. designed for the treatment of inflammatory lesions of non-modular moderate-to-severe acne vulgaris in adults and pediatric patients aged nine years and older. The therapy was launched back in January. “We believe that Amzeeq is a highly competitive product with supporting data that demonstrate a topical minocycline treatment does not pose a risk of resistance,” the analyst noted.Monitoring the launch closely, Chen points out that against the backdrop of COVID-19, Rx trends indicate a strong recovery. Throughout the industry, the pandemic has weighed on the launches of new therapies. Additionally, the number of unique prescribers exceeded 4,200 during Q2 2020. To this end, the analyst argues “the peak sales potential of Amzeeq is underappreciated and the launch could exceed expectations, despite the COVID-19 pandemic.”To support this claim, Chen cites a competing product’s launch. Seysara is an oral product developed by Almirall for the same indication. Like VYNE’s therapy, COVID-19 impacted the launch, but Rx trends are also rebounding, with the company expecting peak sales to reach $150-$200 million. That being said, given that Seysara is an oral product, Chen believes Amzeeq offers a better value proposition, with the launch trajectories likely to differ.It should be noted that the President and CEO of VYNE, David Domzalski, and CFO Andrew Saik both bought up shares of the company this month. “We believe they are excited about the rebrand of the company and they purchased stock to show their commitment to the company and enthusiasm for VYNE’s potential as they get ready to potentially launch Zilxi (its topical foam product) in moderate-to-severe rosacea in Q4 2020,” Chen said. To this end, Chen rates VYNE an Overweight (i.e. Buy) along with a $15 price target. This target conveys her confidence in VYNE’s ability to skyrocket 893% in the next year. (To watch Chen’s track record, click here)Turning now to the rest of the Street, other analysts echo Chen’s sentiment. 4 Buys and no Holds or Sells add up to a Strong Buy consensus rating. With an average price target of $7.75, the upside potential comes in at 413%. (See VYNE stock analysis on TipRanks)BioDelivery Sciences (BDSI)Working to deliver innovative therapies, BioDelivery wants to improve the lives of patients with serious and debilitating chronic conditions. While shares have fallen 41% year-to-date, several analysts believe that at $3.69, its share price reflects an attractive entry point.Northland Capital’s Tim Chiang is among those recommending that investors purchase shares on the weakness. With Belbuca (its Schedule III opioid) and Symproic (its naldemedine for the treatment of opioid induced constipation) volume trends holding up strong, he thinks his 2H20 estimates are attainable and that there’s potential for upside. During Q2 2020, there were record high sales volumes of 104,687 prescriptions, up 31% year-over-year.Turning to Belbuca, which was designed for use in patients with pain severe enough to require daily, around the clock, long-term opioid treatments, it was approved by the FDA back in 2015. Buprenorphine, the active ingredient, is a partial opioid agonist and is classified as a Schedule III controlled substance, with other opioids like fentanyl, morphine and oxycodone being deemed Schedule II. Schedule II drugs have more dosing restrictions as they are more likely to be abused, and can’t be refilled like Schedule III therapies.Due to the ongoing opioid crisis, which has led to overdose deaths and a high rate of addiction, physicians are shifting away from prescribing traditional opioids like oxycodone, which bodes well for BDSI, in Chiang’s opinion.Based on Chiang’s estimates, Belbuca could generate more than 500,000 prescriptions in 2020, resulting in sales of approximately $138 million. He also believes that Belbuca’s market share could increase from the low-single digits into the mid-to-high single digits over the next 4-5 years, with annual sales hitting $230 million by CY22 and $320 million by CY25.“While COVID-19 has significantly impacted the U.S. healthcare system, we believe the incidence of chronic pain (defined as pain lasting longer than 12 weeks) has not been impacted; in fact we believe the incidence may be rising due to the pandemic. Based on an estimated 13.5 million opioid prescriptions dispensed in 2020 for chronic pain (Schedule II / III), we believe our 4% market share estimate for Belbuca this year could be conservative,” the analyst explained.Everything that BDSI has going for it convinced Chiang to keep an Outperform (i.e. Buy) rating on the stock. Along with the call, he attached a $9 price target, suggesting 143% upside potential. (To watch Chiang’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 4, in fact, have been issued in the last three months. Therefore, the message is clear: BDSI is a Strong Buy. Given the $7.75 average price target, shares could climb 109% higher in the next year. (See BDSI stock analysis ratings on TipRanks)Chiasma (CHMA)By leveraging Transient Permeability Enhancer (TPE) technology, Chiasma is able to convert select peptide-based injectables into oral formulations. Currently going for $4.37 apiece, Wall Street is pounding the table on this healthcare name.On August 31, the company announced that Mycapssa, the first and only oral somatostatin analog (SSA) approved as a long-term maintenance treatment for acromegaly patients who have responded to and tolerated octreotide or lanreotide (other approved therapies), had been launched one month ahead of guidance. Acromegaly is an orphan disease typically caused by a benign tumor on the pituitary that results in the excessive secretion of growth hormones, causing bone overgrowth and enlargement of internal organs with co-morbidities.In terms of pricing, a 28-day supply goes for $5,152, with CHMA intending to build on physician and patient experience with octreotide, incorporate telemedicine and build a sales team of 45 representatives.Weighing in on this development for Piper Sandler, 5-star analyst Edward Tenthoff tells clients he is optimistic about the therapy’s prospects. “We see strong demand for an effective oral therapy from acromegaly patients who currently receive painful monthly injections and experience break-through symptoms,” he commented. To this end, Tenthoff still expects total Mycapssa sales to clock in at $3 million in Q4 2020.Tenthoff also points out that with the first commercial sale of Mycapssa, CHMA is set to receive $15 million from Healthcare Royalty Partners (HCR) and $10 million in early 2022. As part of the deal, HCR is eligible for 12.25% up to $125 million, 4% from $125-250 million and 1% on sales over $250 million.When it comes to the next potential catalyst, Tenthoff cites the top-line Phase 3 MPOWERED data readout, which is slated for Q4 2020, as it could “ultimately support European approval.”It should come as no surprise, then, that Tenthoff stayed with the bulls. He continues to put an Overweight rating and $19 price target on the stock, implying 319% upside potential. (To watch Tenthoff’s track record, click here)All in all, other analysts are on the same page. CHMA’s Strong Buy consensus rating breaks down into only Buy ratings, 4 to be exact. The $12.33 average price target brings the upside potential to 182%. (See Chiasma stock analysis on TipRanks)To find good ideas for 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.
One of the simplest ways to ensure you're investing in stable companies is to pick large-cap stocks that dominate their markets. Here are nine large-cap dividend stocks to buy that offer generous -- and more importantly, sustainable -- dividends. Pfizer is in many ways the poster child for large stocks with scale, stable income and staying power.
You should be able to roll over your 401(k) plan account into a Roth IRA, but be sure you first understand the tax consequences of doing so.
ChargePoint Inc, one of the world's oldest and largest electric vehicle charging networks, said on Thursday it will go public by merging with Switchback Energy Acquisition Corp <SBE.N> in a deal that values the company at $2.4 billion. The deal is expected to close near the end of the year and the company will be named ChargePoint Holdings Inc. A trading symbol on the New York Stock Exchange has not been identified. Reuters last week reported ChargePoint and Switchback were nearing a deal.
There were 13.2 million new pickups sold from 2013 to 2019 in the U.S., with monthly payments of as much as $1,300 for each. That money could be better spent on 401(k) or IRA payments, says Ben Carlson.
(Bloomberg) -- Penn National Gaming Inc. is taking advantage of its nearly three-fold surge this year, helped by its minority interest in Barstool Sports, to sell 14 million shares of its stock.The offering, underwritten by Goldman Sachs, BofA Securities and JPMorgan, will start trading on Friday, according to a person familiar with the matter who isn’t authorized to speak to the press. The timing means there will be no price range governing the share sale. The offering, announced early Thursday, represents 11% of the company’s public float as of Aug. 31, according to data compiled by Bloomberg.Penn’s shares traded to a record high Tuesday after analysts at Morgan Stanley said the Barstool Sportsbook betting app reached 21,000 downloads per day in its first weekend, breaking records set by competitors DraftKings Inc. and Flutter Entertainment Plc’s FanDuel.The casino operator fell as much as 9.3%, the most in three months, on news of the stock offering and after an analyst downgraded shares to neutral. Macquarie’s Chad Beynon lowered his rating on the stock, citing the company’s leverage that could be viewed as “problematic” if there is another wave of coronavirus cases or if demand slows. He also said the current valuation ascribes $6 billion of value to Barstool and internet gaming alone.“Investors were quick to jump into the stock as a way to play the sports betting and iGaming market, but we believe Penn shares are now priced to perfection ahead of a marketing frenzy in the industry,” Beynon wrote in the note. While he remains optimistic on the outlook for the casino industry in the long-term, a general return to normal would likely pull consumer spending from casinos and into other industries like restaurants and travel.While the shares had gained 170% this year through Wednesday, they’d surged more than 1,400% from a March 18 bottom -- jumping to a record $76.62 from $3.75. The company’s $8.8 billion market value makes it larger than legacy casinos including Caesars Entertainment Inc. and Wynn Resorts Ltd.A key part of the optimism for shares of Penn National has been its 36% interest in the controversial sports and pop-culture outlet Barstool Sports and the recently launched mobile betting app. The outlet’s millions of followers, paired with social media celebrities including founder Dave Portnoy and contributers like Big Cat and PFT Commentator, have driven bullish analysts to assign sky-high valuations and forecast big gains for the company.While Barstool Sportsbook is only launched in Pennsylvania, the key debate centers on its ability to take market share from peers with less of a hold on customers while competing against heavyweights in DraftKings and FanDuel. The pair holds about 70% of the U.S. online sports betting market with Boston-based DraftKings having struck deals with Walt Disney Co.’s ESPN network and professional sports teams like the Chicago Cubs and New York Giants.Macquarie’s Beynon started coverage of DraftKings with an outperform rating and a Wall Street-high price target of $65. His target implies shares will gain another 35% over the next year -- that would add to gains of 173% since the company started trading on U.S. markets in April.(Updates share movement in fourth paragraph, chart added.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A $4.3 billion battery-making company backed by Bill Gates could rival Tesla.
Once or twice a year, we get a significant buying opportunity in gold. The next buy signal is rapidly approaching, and prices could bottom any day.