3 “hard buy” stocks that flirt with a fund
In the investment game, it’s not just about what you buy; it’s about when you buy it. One of the most common tips thrown on the street, “buy low” is advertised as a proven tactic. Sure, the strategy looks simple. Stock prices naturally fluctuate based on several factors such as earnings results and the macro environment, among others, with investors trying to time the market and determine when the stocks have bottomed out. In practice though, putting this strategy into practice is no easy task, and given the volatility that has dominated the markets in recent weeks, how should investors rate when a name is flirting with a bottom? This is where Wall Street professionals come in: These expert stock pickers have identified three interesting tickers whose current stock prices are approaching 52-week lows. Noting that each is set to take off on an upward trajectory, analysts see an attractive entry point. Using the TipRanks database, we found that analyst consensus rated all three as a strong buy, with great upside potential even on tap.Progenity (PROG) By delivering clear and actionable genetic results, Progenity specializes in providing services of test. The company began trading on the Nasdaq in June and has since seen its shares plummet by 44%. With the shares changing hands for $ 8.11, several members of the road recommend pulling the trigger before it overheats. Piper Sandler analyst Steven Mah points out that even against the backdrop of COVID-19, PROG managed to maintain its Q2 2020 performance. “We are encouraged by the recovery at the end of the second quarter of 2020 with 75,000 access tests (~ 79,000 in the first quarter of 2020), guided by non-invasive prenatal testing (NIPT) and carrier screening, “the analyst noted. Exposing this, Mah said: “Progenity provided no guidance, but June test volumes of ~ 28,000 were strong (Q1 2020 monthly average was ~ 26,000) which we believe shows the length of its reproductive tests and success. that Progenity has in co-marketing and attach vector screening to the most essential NIPT. Note that despite the disruptions to the pandemic, Progenity was able to maintain its core response times to pre-COVID testing. “Additionally, health insurer Aetna is temporarily extending coverage of the medium risk NIPT until the end of the year following the pandemic, with the Second Mah, the American College of Obstetricians and Gynecologists (ACOG) is also expected to approve the medium risk in the future given its clinical usefulness. Reflecting on another positive test, the fourth generation single-molecule counting assay (NIPT) test was able to measure fetal fraction, a milestone according to Mah, and will continue to be developed in 2021. As the technology could potentially be applied to DNA, RNA, epigenetic markers and proteins for further clinical applications such as oncology, the analyst looks forward to the completion of the preeclampsia test in Q4 2020 and a possible launch in the second half of 21. “We believe the preeclampsia (~ 2.3 billion usable market) is an important differentiator for Progenity, allowing them to cross-sell across the entire reproductive testing continuum, ”the analyst added. If that’s not enough, PROG signed its first Precision Medicine IG Partnership Agreement with one of the top 20 pharmaceutical companies in August. The Oral Biotherapeutic Delivery System (OBDS), a combination of drug and ingestible device designed to accurately deliver biologics systemically through needle-free liquid jet injection into the submucosal tissues of the small intestine, is intended to be used as part of collaboration. Mah commented: “We believe Progenity can sign further pharmaceutical agreements and we look forward to the news flow on this front.” To summarize, Mah said: “We believe Progenity’s shares are undervalued given the robust recovery in the test core business and multiple impending growth catalysts.” To that end, Mah rates PROG as an overweight (aka buy) along with a price target of $ 17. If its thesis were to end, a twelve-month gain of 105% could potentially be in the cards. (To see Mah’s track record, click here) Do the other analysts agree? They are. In fact, only the Buy ratings, 4, were issued in the last three months. Therefore, the message is clear: PROG is a strong buy. Given the average price target of $ 13.33, the stock could rise 60% more in the next year. (See PROG title analysis on TipRanks) Tactile Systems Technology (TCMD) By developing devices for home therapy, Tactile Systems Technology wants to provide new treatments for lymphedema, which occurs when the lymphatic system is compromised, disrupting normal transport of fluid within the body, and chronic venous insufficiency. Down 52% year to date, its $ 32.67 share price is approaching a 52-week low of $ 29.47. Thus, with the improvement of business trends, the road is hammering 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 decreased by 50% compared to the first half of the month and TCMD patient volumes in April and May remained challenged. That said, the trends started to improve in late May. Going forward, given the vast majority of TCMD clinical clients practicing in outpatient or outpatient settings, we remain positive about TCMD’s ability to demonstrate better isolation against COVID impacts and likely experience greater rebound than general trends in the volume of medical technology, with TCMD further benefiting from its expanding use of technology to interact remotely with physicians and support patients, ”Furlong explained. The analyst added: “Furthermore, recent trends among some providers prescribe Flexitouch (an advanced intermittent pneumatic compression device for self-management of lymphedema and non-healing venous leg ulcers) early in the therapy process, as a means to reduce in-person contact, it could provide a short-term advantage as well as potentially a transition to a long-term headwind. Additionally, Furlong is also optimistic about the new CEO Dan Reuvers and the re-prioritization of the company’s investors and market development efforts. TCMD will shift focus from its acquired Airwear product line, redirecting investments to its Flexitouch and Entre products (a pneumatic compression device used to assist in the home management of chronic swelling and venous ulcers associated with lymphedema and chronic venous insufficiency) . “Given the significant under-penetration of the lymphedema / phlebolymphedema market targeted by Flexitouch along with the large population of patients with limited treatment options now targeted by the company’s Head & Neck platform, we believe the combination of training and data clinicians are the key to further developing them and penetrating their markets … In the future, we expect management to continue to compile an extensive clinical database to support reimbursement and promote broad adoption, ”Furlong commented. All of this prompted Furlong to maintain a buy rating and a $ 62 price target on the stock. This goal conveys his confidence in TCMD’s ability to rise 90% in the coming year. (To see Furlong’s track record, click here) In general, other analysts are on the same page. With 3 buy and 1 hold ratings, the word on the street is that TCMD is a strong buy. The average price target of $ 62.33 brings the upside potential to 91%. (See TCMD stock analysis on TipRanks) uniQure NV (QURE) Last but not least we have uniQure, which provides curative gene therapies that could potentially transform patients’ lives. Even though the shares are down 44% year to date to $ 40, not much above the 52-week low of $ 36.20, many analysts still have high hopes. Representing SVB Leerink, 5-star analyst Joseph Schwartz acknowledges stock struggled after news broke its partnership and licensing deal with CSL Behring for AMT-061, QURE’s gene therapy for hemophilia B, argues that “stock base turnover is likely now complete as investors and QURE shift focus to the upcoming AMT-130, its AAV5 Gene Therapy for Huntington’s disease (HD). ” Schwartz further added: “With the M&A award now sold out, we see the current level of QURE as an attractive buying opportunity for those investors interested in the company’s future CNS gene therapies, in-house manufacturing and solid intellectual property and know- how. “By taking a closer look at the agreement with CSL Behring, QURE will be tasked with completing the key Phase 3 HOPE-B trial and manufacturing process validation and production supply of AMT-061 According to management, data of Factor IX (FIX) at 26 weeks of all 54 patients enrolled in the study remain on track and the pivotal study pivotal data is still scheduled to be read by YE20. It should be remembered that in a phase 2b dose confirmation study, QURE reported a FIX activity of 41% over one year. Additionally, Schwartz points out that with HOPE-B proceeding as planned, QURE has continued its work of validating the manufacturing process ahead of the anticipated BLA / MAA introductions in the US and EU in 2021. part of the deal, QURE is eligible to receive more than $ 2 billion, including an upfront cash payment of $ 450 million, $ 1.6 billion in regulatory and commercial milestones, and double-digit royalties ranging up to the twenties in net sales of products. “With a strengthened cash position, QURE is well-funded to rapidly advance CNS resources 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 a mature asset QURE CNS pipeline, the company could once again be an attractive partner for larger biopharmaceutical companies that have recently acquired many publicly traded gene therapy platforms with notable production capacity, “Schwartz noted. The choice of QURE convinced Schwartz to reiterate an Outperform (i.e. Buy) rating. Along with the call, it set a price target of $ 67, suggesting a 68% upside potential from current levels. (To see Schwartz’s resume, click here) What does the rest of the way have to say? In the past three months, 9 buys and 3 tricks have been issued, so the consensus score is a strong buy. Additionally, the median price target of $ 69.89 indicates an upside potential of 75%. (See QURE Stock Analysis on TipRanks) To find good ideas for trading downed stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buys, a newly launched tool that combines all of TipRanks’ equity insights. articles are exclusively those of the analysts present. The content is to be used for informational purposes only. It is very important to do your own analysis before making any investments.