Analysts say buy pullback in these 3 stocks
The sophisticated investor knows the best time to buy is when a stock is priced low, it’s just the old game of buying low and selling high, the age-old advice on how to make money. silver. But with the S&P at near record highs, it’s hard to tell when a stock is priced low. The key is to simply take them as individuals. The stock market is the world’s largest real-time experiment in averaging large numbers of mass. The markets as a whole may move up, while a few individual stocks slide down. And when a stock hits rock bottom, as long as its foundation is solid, it becomes a buying opportunity. Wall Streets analysts make their reputation by finding these opportunities and bringing them to our attention. Using the TipRanks database, we were able to find 3 stocks that were down from their recent highs, while some analysts recommend buying the pullback. Let’s take a closer look. Iovance Biotherapeutics (IOVA) Getting started with Iovance Biotherapeutics, a mid-size biotechnology company in the field of immuno-oncology, developing tumor-infiltrating lymphocyte (TIL) therapies for the treatment of cancer. Basically, the technology aims to use the patient’s immune system to attack the cancer. The company’s lead drug candidate, lifileucel is on track to apply for a biologics license with the FDA, the next step in the ongoing approval process. The drug has shown promise as a treatment for metastatic melanoma, and follow-up studies are underway in phase 2 clinical studies. In addition, lifileucel is being investigated for use in cervical cancer. ; the program is recruiting patients in the phase 2 study and patient recruitment in cohorts 1 and 2 has been completed. This backdrop, along with the 40% drop in equities since its recent peak in February, has combined to grab the attention of 5-star analyst Joseph Pantginis of HC Wainwright. [We] believe the stock pull-out again creates a compelling entry point for investors ahead of BLA filings slated for 2021 for its TILs in melanoma and cervical cancer. Recall, above all, that melanoma has the RMAT status and the cervix has the designation of revolutionary therapy … “The analyst added:” We believe that the recent encouraging data and the changes in the trials are indications of the clinical promise of lifileucel and strengthen the arguments in favor of its commercialization before the anticipated BLA. “. Pantginis backs up these comments with a buy rating and a price target of $ 50 which implies a 57% hike over the next 12 months. (To see Pantginis’ track record, click here) Cutting edge medical technology has caught the attention of colleagues at Pantginis The stock has been the subject of 5 recent reviews, and all are up for grabs, making it a note unanimous consensus of Strong Buy analysts. IOVA has an average price target of $ 54.80, which suggests a 12-month rise of 72% from the stock price of $ 31.88 (See IOVA market analysis on TipRanks) Quidel Corporation ( QDEL) The next pullout title we’re looking at is Quidel, a $ 5.9 billion diagnostic healthcare company. Quidel, based in Southern California ifornia, has operations around the world, offering products in a variety of point-of-care diagnostic testing niches. The company scored a major victory last year when it received FDA approval for a COVID-19 antigen test. Earlier this month, Quidel announced emergency use authorization for its Quickvue home COVID-19 test kit, available to patients by prescription. In February, the company released its fourth quarter 2020 results, posting total revenue of $ 809.2 million, a 69% increase quarter over quarter and an even more impressive gain of 431% year over year. The increase was driven by COVID-19 related products, which generated $ 678.7 million in quarterly sales. EPS was $ 10.78, compared to 71 cents in profit for the quarter last year. The corona pandemic has been a boon to the medical testing industry, and Quidel has seen much of that benefit. The company reported full-year gains similar to its fourth quarter results. For 2020, Quidel posted revenue of $ 1.66 billion, up 211% year-over-year, with COVID-19 revenue of $ 1.16 billion. BPA for the year was $ 18.60, up from $ 1.73 in 2019. Ironically, the success of medical efforts against COVID-19 has both boosted Quidel and prepared him for the current decline. As the vaccination program continues and expands and the spread of the virus slows, the need for rapid mass testing will decrease Quidel is unlikely to see its COVID activity evaporate completely in the short term, but in the medium term, it does. likely to see it start to return to a pre-pandemic normal. This prospect makes investors wonder if the current high valuation of stocks can last. This thesis optimized Craig-Hallum analyst Alexander Nowak on QDEL. Looking at the company’s recent success, he writes, that stock almost tripped during COVID, but activity has picked up dramatically over the same period. QDEL grew its customer base by 60% in a single year, more than doubled its placements, signed long-term test contracts, 5 times the ability to support more tests, markets, geographies, pass to alternative care channels, to develop the home testing market and generated significant cash flow. And looking to the future, adds the 5-star analyst, but when COVID is completely over, we still see QDEL generate $ 10 normalized profit + $ 47 cash / share, which is more than double the current valuation. . For investors who can look past what volatility will be, pullback is a great buying point. To that end, Nowak evaluates QDEL for a buy and sets a price target of $ 341, which implies a 148% hike for the coming year. (To look at Nowaks’ track record, click here) Now let’s move on to the rest of the street, where QDEL mainly receives purchases from colleagues at Nowak 3, in this case. An additional sell of 1 cannot detract from a Consensual Moderate Buy Rating. Given the average price target of $ 239, analysts expect stocks to rise 71% from current levels. (See QDEL market analysis on TipRanks) Sunrun, Inc. (RUN) Shifting gears, take a look at an alternative energy company, Sunrun. This company specializes in solar energy production installations for home use. Customers looking to install and operate solar panels on the roofs of the home can choose between purchase or rental options, and can use the energy produced in a variety of ways, whether for home use or to resell it to the local electricity supplier. Sunrun shares have slipped 40% since their recent high in January. The decline comes more from feeling than from anything else. The solar sector has generally grown since the November election, confident that the Biden administration will provide regulatory encouragement to the industry, but the recent surge has slightly worried investors that, in the future, Sunrun will not operate at the height of the hype. However, the drop was certainly not caused by performance flaws. At the end of February, Sunrun reported 4Q20 revenue of $ 320 million, a 31% year-over-year gain. The high revenue was driven by an 18% year-over-year increase in the customer base, giving the company 550,000 customers in total. Among these customers, the average contract length is still 17 years and annual recurring revenue is $ 668 million. Taken together, these factors prompted Truist analyst Tristan Richardson to reiterate his buy note. [We] believes that the decline represents an interesting opportunity leading to an accelerated growth profile in 2021 and favorable customer margins (storage, VSLR synergies). We are increasing our near-term installation forecast slightly and looking for more than 20% year-over-year growth, Richardson said. The analyst continued: “Against the backdrop of recent weeks of sales of growth stocks and risky assets (including solar energy) as interest rates have shown volatility, we highlight the The importance, from a matical point of view, of the ability of the largest US installers to generate accelerated growth. profile so as not to exacerbate the problem from a fundamental point of view. “Richardson supports his position with a goal of price of $ 95, indicating confidence in a 66% year-over-year upside potential. (To view Richardsons track record, click here) The Truist view on Sunrun is not an outlier; There are 14 reviews on this stock, and they include 11 buys versus just 3 holds, giving the stock a Strong Buy consensus rating. The shares are priced at $ 57.28 and their average price target of $ 82.10 suggests a rise of 44%. (See RUN Stock Analysis on TipRanks) To find great ideas for stocks traded 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 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.
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