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Oppenheimer: these 3 stocks could rise by more than 80%
The best companies on Wall Street don’t just look at stocks, they also look at the big picture. And Oppenheimer’s chief investment strategist John Stoltzfus is particularly adept at showing us the macro view. In its first note for the new year, Stoltzfus notes a series of factors that will impact the markets. The big news, of course, the 800-pound gorilla that cannot be ignored, is the ongoing COVID outbreak. The disease is coming back strong now that we are well into winter – which was somewhat expected, as this is typical behavior of influenza-like respiratory viruses. Along with the winter virus outbreak, we also have to deal with a new set of lockdown policies, imposed at the state or local level. It is hoped that the newly available COVID vaccines will begin, by spring, to curb the novel coronavirus. “The length of time that households and economies have been negatively impacted by the spread of the virus around the world in our view will likely result in less resistance to inoculation against Covid-19 than many experts had feared in the past. start of the pandemic. We expect the stock markets to remain sensitive to developments related to the pandemic which has held the US and global economy hostage for almost a year “, The second biggest news, but the most likely, according to Stoltzfus , to make a good impression in the market, is the election in Georgia. Both Democratic candidates won Senate seats, giving the new Biden administration the ability to push policies through Congress over any opposition – at least for the next two years. This Democratic victory, ensuring short-term single-party control of the presidency and Congress, has Stoltzfus worried. In his campaign, Joe Biden pledged to roll back Trump’s tax policies and enact a series of big spending initiatives. If he were to now follow, Biden’s stated policy is likely to increase both taxes and federal spending. And according to Stoltzfus, it will probably cost the markets; Stoltzfus believes that promulgations of unfettered Progressive / Democratic policies will leave the S&P 500 vulnerable to losses in the range of 6-10%. Before rushing to sell stakes, Oppenheimer’s analysts remind investors that interesting opportunities can still be found. Analysts at the company have marked three stocks they believe will gain more than 80% for the coming year. Using the TipRanks database, we learned that the rest of the street agrees, as all three boast a “Strong Buy” analyst consensus. miRagen Therapeutics (MGEN) miRagen Therapeutics aims to develop new treatment options for conditions that current therapies cannot adequately improve. The company’s flagship drug candidate is VRDN-001, an anti-IGF-1R monoclonal antibody in clinical research as a treatment for ocular thyroid disease (PDD). miRagen acquired the rights to VRDN-001 late last year, following its acquisition in October from Veridian Therapeutics. The monoclonal antibody is set to enter the phase 2 clinical trial, with the first results expected in mid-2021. MiRagen is funding its current research with a capital increase of $ 91 million, organized under a private placement financing agreement. With that deal in place, miRagen ended the third quarter with $ 144 million in cash, but more importantly, a clear cash flow trail extending through 2023. Among the bulls is the analyst from Oppenheimer Leland Gershell, who rates MGEN an outperformance (i.e. with a price target of $ 37. This figure indicates a 102% year-over-year improvement margin. (To see Gershell’s track record, click here ) Supporting his position, Gershell says, “The recent acquisition of Viridian and a $ 91 million raise has set miRagen in a new direction as incoming programs position it to compete in the fertile thyroid eye disease market. … we see vast revenue potential for [VRDN-001], and its higher potency may allow for differentiation … We expect progress in the development of MGEN’s TED candidates to support outperformance. Overall, Wall Street likes the risk / reward factor at play here, as TipRanks features a Strong Buy consensus rooted in MGEN’s success. The shares are selling for $ 18.26 and have an average price target of $ 32. This target implies a 75% increase over current levels. (See MGEN stock market analysis on TipRanks) Oric Pharmaceuticals (ORIC) The success of the pharmacology industry has, ironically, caused a daunting challenge: many diseases are becoming resistant to existing therapies. Many cancers are among the diseases subject to resistance and consecutive relapses, serious problems which both impact the patient’s quality of life and increase death rates. Oric Pharmaceuticals, a clinical biopharmaceutical research company, is working on treatments to overcome cancer resistance. Oric’s lead candidate is ORIC-101, which shows promise as a glucocorticoid receptor (GR) antagonist. The drug is entering two separate Phase 1b trials, one for prostate cancer and the other for solid tumors. Modern drug research is expensive, and Oric recently raised capital through a successful public offering of shares. The company put more than 5.79 million new stocks on the market in November, at $ 23 each, and grossed more than $ 133.3 million Oppenheimer 5-star analyst Kevin DeGeeter covers Oric, and he is optimistic. DeGeeter is backing its outperform (i.e. buy) rating with a price target of $ 62, implying a year-over-year upside potential of 88%. (To view DeGeeter’s track record, click here) In support of his optimistic position, DeGeeter writes: “We view ORIC as an investment in a management team that has already successfully developed clinically important cancer drugs. Our thesis assumes… clinical data supporting the best-in-class profile of ORIC-101 based on ease of use or superior efficacy in the selected population of biomarkers. We believe that current investor expectations place high value on ORIC-101’s top-notch potential profile and management skills. Overall, ORIC stocks are unanimously praised by analyst consensus, with 3 recent Buy reviews adding to a Strong Buy rating. The share price is $ 32.91, while the average price target of $ 50.67 indicates room for growth of around 54%. (See ORIC stock market analysis on TipRanks) Triterras (TRIT) Next up is Unicorn, a billion-dollar fintech startup that’s been on the public market for less than three months. Triterras provides an online trading and trade finance platform, Kratos, based on blockchain technology. Trade finance, or the provision of credit services for the physical transport of traded goods, is worth about $ 40 billion per year; Triterras’ platform uses the secure nature of blockchain as a selling point for online traders. Triterras went public through a SPAC merger; that is, a business combination with a special acquisition company. These companies exist to buy a target company, inject capital, and then market the combined entity. Analyst Owen Lau, in his coverage of this action for Oppenheimer, likes what he sees. Of the current state of the company, he writes, “… results and momentum look strong, and full year guidance implies 235% and 142% year-on-year revenue growth. and net income on a low basis. More importantly, while the company is growing faster than other high growth markets, stocks are trading at a discount on average compared to low growth markets. Ultimately, Lau is optimistic and says, “We see a fascinating paper-to-electronic opportunity in Triterras, which is harnessing blockchain technology to disrupt the adoption of low tech in the commerce and finance industry. Trade. Based on those comments, Lau attributes TRIT to outperform (ie buy), and his price target of $ 23 implies 93% growth for the coming year. (To see Lau’s track record, click here) Overall, this company has had 3 recent reviews, and they are all buyable, making Strong Buy’s analyst consensus unanimously positive. The shares are priced at $ 10.94 with an average price target of $ 19, giving the stock upside potential of around 60% year on year. (See TRIT Stock Analysis on TipRanks) To find great ideas for trading stocks at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that brings together all the information about TipRanks stocks. Disclaimer: The opinions expressed in this article are those of the featured analysts only. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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