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Goldman Sachs: These 3 Stocks Could Increase More Than 40%
Expectations of good news in the near horizon are supporting the markets right now. Over the past month, both the S&P 500 and NASDAQ have risen 11% to new record highs. Investors are excited about the prospect of a COVID vaccine coming before the end of winter. And the election results, that Democrat Joe Biden will rise to the presidency while Republicans will emerge strengthened in Congress, promise to avoid the extremes of divided government. In short, investors are looking forward to “getting back to normal” in the coming months. And that has led them to search for earnings-ready stocks. Against this backdrop, analysts at Goldman Sachs are hammering the table on three stocks in particular, noting that each could rise by more than 40% in the year ahead. After running both tickers through the TipRanks database, we found that the rest of the way is exactly in the bull field too.Codiack BioSciences (CDAK) As we’ve all learned from the coronavirus pandemic, some new things in medical science can do huge impact on our world. Codiack aims to turn this principle into good. This research-oriented drug aims to transform exosomal therapies into a new class of drugs. Exosomes are the RNA breakdown mechanism and can transfer genetic material around a body, and herein lies the potential. Codiack has developed a design platform for engineering exosomal proteins capable of transporting and protecting drug molecules across cell walls. Indeed, the proteins will mimic the pathways used by viruses, but they are non-viral and are designed to carry a “payload” of therapeutic agents. If successful, exosomal therapy gives clinicians the ability to design a drug that will deliver specific agents to specific cells to fight specific diseases. Diack is involved in all aspects of exosomal therapies, from design to manufacturing, and currently has a pipeline. active agents – seven, in all – in the various stages of discovery, preclinical testing and early phase 1 studies In the biosciences, success or failure is all about that pipeline and its diverse active pipeline of agents into a new Biotechnology pharmaceuticals sector, Codiack has an excellent resource to attract investors. To win over these investors, the company went public last October, selling 5.5 million shares at an opening price of $ 14.10 per share. Among the fans of the healthcare name is Goldman Sachs analyst Graig Suvannavejh. The analyst wrote: “The biopharmaceutical industry’s interest in exosomes has long been high, but designing them for a specific function and large-scale production has proved challenging. Among a field of multiple competitors, CDAK has accomplished the most significant progress on both fronts, and as such we consider their technology platform best in class. “” Given the stock’s underperformance (-37%) since the IPO, we find very compelling risk / reward at current levels and with key data sets for 2021 to provide potential risk reduction and positive equity inflection, “concluded the analyst. Suvannavejh values CDAK at Buy, and its $ 29 price target shows the magnitude of its confidence – implying a 222% upside for next year. (To see Suvannavejh’s track record, click here) Overall, Codiack has a strong buy from analyst consensus – 3 reviewers have expressed buy ratings in the past few weeks. The stock retails for $ 8.90 and its $ 24 average price target implies a 166% upside potential over one year. (See CDAK inventory analysis on TipRanks) Arcutis Biotherapeutics (ARQT) Acrutis is a pioneering researcher in the treatment of dermatological diseases. Arcutis is involved in discovering the next generation of dermatological treatments, an important niche, especially when it is realized that a common ailment, psoriasis, has not seen FDA approval for a new treatment in over two decades. The company is leveraging recent advances in immunology and inflammation to find new approaches to skin treatment. The goal is to make it easier for patients and doctors alike to manage conditions such as psoriasis, alopecia, atopic dermatitis, seborrheic dermatitis and vitiligo, to name a few. The company’s lead candidate, ARQ-151 (roflumilast cream), is about to enter a phase 3 study for atopic dermatitis and is in an advanced stage of phase 3 in plaque psoriasis. Arcutis recently published an update on positive data from Phase 2 studies of ARQ-151 in atopic dermatitis. The drug is a once-daily treatment and has shown significant relief for the patient of symptoms, especially itch and itch-related sleep problems. This is another title in the Suvannavejh cover universe. The Goldman analyst was impressed with developments in the company’s on-site work, noting: “ARQT has provided an update on the results of their Phase 2 end-of-day meetings with the FDA, following their Phase 2a study of ARQ-151 in the atopic dermatitis (AtD). Feedback from regulators has been largely encouraging, in particular, acknowledging the robust long-term safety data generated by ARQT for ARQ-151 in plaque psoriasis … “Consequently, Suvannavejh evaluates ARQT a Buy and sets a price target of $ 36 indicating room for 40% upward growth in 2021. (To see Suvannavejh’s track record, click here) Arcutis has 2 recent buy reviews, making the consensus rating a moderate purchase. The stock’s average price target is $ 37, suggesting a 44% rise from current levels. (See ARQT stock analysis on TipRanks) Oak Street Health (OSH) With the latest stock, we move from medical research to medical care. Specifically, Oak Street Health is a primary care clinic operator and part of the Medicare network. The company has operations and clinics in Illinois, Indiana, Michigan, Pennsylvania and Ohio, along with New York, North Carolina, Rhode Island, Tennessee and Texas. It has been in operation for eight years and went public last summer, holding the IPO in August. In the third quarter, the company’s first as a publicly traded entity, OSH grossed $ 217.9 million in revenue. The number of entries increased by 56% compared to the quarter a year ago. Earnings per share met expectations, at 15 cents. The company’s expansion is proceeding apace and in October Oak Street entered New York and opened its 70th location in Brooklyn. A planned expansion in Texas, which includes a partnership with Walmart, is also proceeding as planned, and Oak Street has opened its first Walmart Community Clinic in the city of Carrollton in the Dallas-Fort Worth area. Robert Jones, covering this stock for Goldman, it set a $ 74 price target to support its purchase valuation. At current levels, this target implies an increase of ~ 58% over the next 12 months. (To see Jones’ track record, click here) “Findings suggest operations are still on track, with few incremental updates since the 2Q call, where management has noticed a resumption of center openings, marketing efforts ( oriented) and in-person visits despite COVID. In Q3, OSH opened 13 new centers and is on track for 73-75 by the end of the year … The company said it continues to operate at a high level in places with a high number of COVID cases such as Chicago and Detroit, “noted Jones. Overall, Strong Buy’s analyst consensus rating for OSH is based on 8 reviews, broken down into 7 purchases and a single hold. The stock is selling for $ 46.94 and its average price target of $ 61.29 suggests it has a ~ 31% upside for next year. (See OSH Stocks Analysis on TipRanks) To find good ideas for trading health stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buys, a newly launched tool that combines all of TipRanks’ equity insights. Disclaimer: The views expressed in this article are only 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.
