On Wednesday, shares of clinical-stage biopharmaceutical company Caladrius Biosciences (CLBS) took off by a whopping 110%. However, the surge did not come off the back of a treatment’s regulatory approval or the release of positive clinical trial results. Seemingly more prosaic, investors appeared to cheer the news that the company has treated its first patient in the Phase 2b FREEDOM Trial of CLBS16, the small biotech’s candidate for the treatment of coronary microvascular dysfunction (CMD). The double-blind, placebo-controlled study kicked off at the Christ Hospital Health Network in Cincinnati, Ohio and, overall, by the end of the year, 105 patients are expected to enroll across several sites in the U.S. The trial’s objective is to further assess the effectiveness and safety of the intracoronary delivery of autologous CD34+ cells in patients with CMD and without obstructive coronary artery disease. The company anticipates to have top-line data available by 3Q22. Covering the stock for H.C. Wainwright, analyst Joseph Pantginis commented, "With the FREEDOM trial, CLBS16 is poised to replicate its performance in a larger population of CMD patients in a blinded fashion, therefore solidifying the basis for key discussions with the FDA around its path to approval.” The excitement around the trial’s initiation might be down to the fact the treatment has a good track record already. The analyst reminds investors, that in spring 2020, the company reported that CLBS16 demonstrated “compelling Phase 2a data of safety and efficacy.” The data showed that in 19 out of 20 CMD patients, a single administration of CLBS16 markedly improved the coronary flow reserve (CFR) and angina symptoms. Pantginis highlights how CLBS16 could prove to be unique, when compared to other CMD treatments. “We note that based on CLBS16’s MoA (mechanism of action) the benefits experienced by the patients originate from revascularization, therefore are expected to be durable and to contribute to the restoration of the cardiac tissue functionality in the long term,” the 5-star analyst said. “This element is a key differentiating factor of CLBS16 from current treatments, and together with the significant amelioration of symptoms, should resonate well with physicians and regulators.” If you think you might have missed the boat following Wednesday’s massive share haul, Pantginis thinks otherwise. Even after the surge, Pantginis’ price target stands at $14, implying additional upside of ~306% could be at play over the following months. Unsurprisingly, the analyst sticks to a Buy rating. (To watch Pantginis’ track record, click here) Pantginis is currently the only analyst to have posted a review over the past 3 months. It will be interesting to see if other Street analysts take notice. (See CLBS stock analysis on TipRanks) To find good ideas for healthcare 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 analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
(Bloomberg) -- Joe Biden will cancel the Keystone XL oil pipeline hours after becoming president on Wednesday, 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 will revoke TC Energy Corp.’s pipeline permit via an executive order because it doesn’t “serve the U.S. national interest,” according to fact sheet from his transition team.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 pared losses after initially trading at $56, down 1%, on the news.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.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.”Alberta Premier Jason Kenney on Tuesday urged Canadian Prime Minister Justin Trudeau to take steps to save the permit, saying its revocation “would damage the Canada-U.S. bilateral relationship.”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.From the archive -- Why the Keystone Project Is Controversial: QuickTake“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.”(Updates with TC Energy reaction and shares from fourth 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.
Congressional leaders plan to get "right to work" on it. How soon might you get the cash?
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From "Dividend Aristocrats" to special situations, Ben Reynolds -- along with his co-editors Bob Ciura and Nikolaos Sismanis -- provides in-depth research on high-quality stocks through its four top-ranked newsletters. Scale is a critical competitive advantage in the industry. The company's durable competitive advantage -- and shareholder friendliness -- is on display with its long dividend history.
The U.S.-listed shares of BlackBerry Ltd. surged 4.4% toward a near three-year high in afternoon trading Wednesday, to extend the record rally over the past several days. The Canada-based cyber-security software company's stock has been on a tear over the past week, after The Global and Mail reported that the company, which made BlackBerry cellphones in a past life, had sold 90 patents to China-based technology giant Huawei, and after the company reportedly settled a patent infringement lawsuit against Facebook Inc. . The stock, on track to close at the highest price since March 2018, has soared 73.3% amid a four-day win streak. That's would be the best four-day performance for the stock since it started trading in February 1999, according to a MarketWatch analysis of FactSet data; the current record four-day rally is 65.7%, set over the four sessions ended June 2, 2000. The stock has now rocketed 153.7% over the past three months, while ETFMG Prime Cyber Security ETF has climbed 26.0% and the S&P 500 has gained 12.0%.
Tesla Motors began deliveries to customers of its Model S in June 2012.The car has changed the face of electric vehicles and helped turn Tesla into one of the most well-known brands and stocks.The Stock Or The Car? In June 2012, the 300-mile range version of the Tesla Model S retailed at $77,400.If a customer had chosen to invest in Tesla Inc (NASDAQ: TSLA) -- the company rather than the physical car -- at that time, they would likely be very happy with the outcome.Related Link: 5 Things You Might Not Know About Elon MuskOn June 22, 2012, Tesla's stock opened at a split-adjusted $6.796. A $77,400 investment would have been good for 11,389 shares of Tesla stock.Holding onto those shares over the next eight-plus years would give a customer the ability to buy many Tesla cars.The value of the 11,389 Tesla shares is $9,409,136 as of Jan. 15.Many Tesla car owners have also invested in the company. The investments in the company over the years have turned Tesla car owners into millionaires along the way. TSLA Price Action: Tesla shares ended Tuesday's session up 2.23% at $844.55. Photo courtesy of Tesla.See more from Benzinga * Click here for options trades from Benzinga * Investors Want A Chamath Palihapitiya ETF And They Might Get It Soon * Short Seller Andrew Left Goes Sour On Lemonade, Says Company Lies To Shareholders(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares of Obalon Therapeutics Inc. blasted six-fold higher on massive volume in afternoon trading Wednesday, after the weight loss technologies company announced an agreement to merge with weight loss solutions company ReShape Lifesciences Inc. . Obalon's stock rose 503.4% toward the highest close since JUne 2019, while trading volume soared to 395.4 million shares, compared with the full-day average of about 626,000 shares. The stock was the biggest gainer and most active on major U.S. exchanges on Wednesday. ReShape shares, which currently trade over the counter, rose 155%. When the merger is completed, ReShape shareholders will own 51% of the combined entity, and the company will be renamed Reshape Lifesciences Inc. and will trade on the Nasdaq under the ticker symbol "RSLS." "We are excited with this opportunity to add Obalon's FDA approved Balloon System to ReShape's line of minimally invasive weight-loss solutions while also expanding our market reach," said ReShape Chief Executive Bart Bandy. Obalon's stock has now rocketed 922.5% over the past three months while ReShape shares have soared 187.3% and the S&P 500 has gained 12.0%.
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On CNBC's "Mad Money Lightning Round," Jim Cramer said he would rather buy Penn National Gaming, Inc (NASDAQ: PENN) and Draftkings Inc (NASDAQ: DKNG) instead of Fubotv Inc (NYSE: FUBO).Cramer would be careful with Nano Dimension Ltd - ADR (NASDAQ: NNDM) because of a big move higher. These moves tend to have another leg up, but he doesn't want to be too aggressive.Canopy Growth Corp (NASDAQ: CGC) is a way to play the marijuana space, thinks Cramer.CIIG Merger Corp (NASDAQ: CIIC) is a good spec, said Cramer.Everything Michael Klein has been involved with, Cramer has liked it. But he thinks Churchill Capital Corp IV (NYSE: CCIV) is speculative.Quanta Services Inc (NYSE: PWR) has more room on the upside, thinks Cramer.See more from Benzinga * Click here for options trades from Benzinga * Tony Zhang Sees More Upside to GM, Lays Out Bullish Options Trade * Carter Worth And Mike Khouw's XLU Trade(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
This year has already started with a bang, and with a “blue wave” looming over the United States, three industries could be ready to explode
Susquehanna Financial Group analyst Christopher Rolland calculated that Intel would generate $600 million to $700 million more in fourth-quarter sales than expected.
FuelCell Energy (NASDAQ:FCEL) will be releasing its next round of earnings this Thursday, January 21. For all of the relevant information, here is your guide for Thursday's Q4 earnings announcement.What Are Earnings, Net Income, And Earnings Per Share? Earnings and EPS are useful metrics of profitability. Total earnings also known as net income is equal to total revenue minus total expenses. Dividing net income by the total number of shares outstanding yields EPS.Earnings And Revenue Based on FuelCell Energy management projections, analysts predict EPS of $0.04 on revenue of $17.05 million. In the same quarter last year, FuelCell Energy reported a loss per share of $0.12 on revenue of $11.04 million.What Are Analyst Estimates And Earnings Surprises, And Why Do They Matter? Analysts who cover this company will publish forward-looking estimates of its revenue and EPS each quarter. Averaging together every EPS and revenue prediction that each analyst makes about a company in a quarter yields the "consensus estimates." A company posting earnings or revenue above or below the consensus estimate is known as an "earnings surprise" and may move the stock by a considerable margin.View more earnings on FCELThe Wall Street estimate would represent a 66.67% increase in the company's earnings. Revenue would be up 54.42% from the year-ago period. In comparison to analyst estimates in the past, here is how the company's reported EPS stacks up:Quarter Q3 2020 Q2 2020 Q1 2020 Q4 2020 EPS Estimate -0.06 -0.07 -0.08 -0.11 EPS Actual -0.07 -0.07 -0.20 -0.12 Revenue Estimate 16.05 M 15.55 M 14.91 M 11.51 M Revenue Actual 18.73 M 18.88 M 16.26 M 11.04 M Stock Performance Shares of FuelCell Energy were trading at $18.125 as of January 19. Over the last 52-week period, shares are up 884.1%. Given that these returns are generally positive, long-term shareholders are probably satisfied going into this earnings release.Do not be surprised to see the stock move on comments made during its conference call. FuelCell Energy is scheduled to hold the call at 10:00:00 ET and can be accessed here.See more from Benzinga * Click here for options trades from Benzinga * Understanding FuelCell Energy's Unusual Options Activity * 12 Industrials Stocks Moving In Friday's Intraday Session(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Polaris is poised to become the dominant maker of electric powersports vehicles, Morgan Stanley said.