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Oppenheimer: these 3 stocks can rise more than 80%
The best companies on Wall Street look not only at stocks, but also at the big picture. And Oppenheimer’s chief investment strategist, John Stoltzfus, is particularly adept at showing us the macro view. In his first note of the new year, Stoltzfus points out a number of factors that will impact the markets. The big news, of course, the 800-pound gorilla that can’t be ignored, is the ongoing COVID epidemic. The disease is coming back strong now that we are well into winter – which was somewhat expected, as it is the typical behavior of respiratory viruses similar to flu. With the increase of the virus in winter, we must also face a new round of blocking policies, imposed at state or local levels. Recently available COVID vaccines are expected to begin, in the spring, to decrease the new coronavirus. “In our opinion, the length of time that households and economies have been negatively affected by the spread of the virus around the world is likely to result in less resistance to inoculation against Covid-19 than many experts feared at the beginning of the pandemic. We expect the stock markets to remain sensitive to developments linked to the pandemic that has held the US and the global economy hostage for nearly a year, “Stoltzfus said. The second biggest news, but the one that is most likely, in Stoltzfus’ opinion, to impress the market, are the elections in Georgia. Both Democratic candidates won seats in the Senate, giving the new Biden government the ability to promote policies in Congress against any opposition – at least for the next two years. This Democratic victory, ensuring control of a short-term presidential and congressional party, Stoltzfus worried. In his campaign, Joe Biden promised to reverse Trump’s fiscal policies and implement a series of major spending initiatives. If he now proceeds, Biden’s stated policy is likely to increase federal taxes and spending. And, in Stoltzfus’ view, this is likely to cost markets; Stoltzfus believes that the promulgation of unrestricted progressive / democratic policies will leave the S&P 500 vulnerable to losses in the range of 6% to 10%. Before rushing to sell the stakes, Oppenheimer’s stock analysts remind investors that attractive opportunities can still be found. The company’s analysts marked three stocks that they see gaining more than 80% next year. Using the TipRanks database, we found that the rest of the street is in agreement, as all three have a consensus of “strong buy” analysts. miRagen Therapeutics (MGEN) miRagen Therapeutics aims to develop new treatment options for diseases that today’s therapies cannot adequately improve. The company’s main candidate drug is VRDN-001, an anti-IGF-1R monoclonal antibody in clinical stage research as a treatment for thyroid eye diseases (TED). miRagen acquired the rights to VRDN-001 at the end of last year, following the acquisition of Veridian Therapeutics in October. The monoclonal antibody is about to enter the Phase 2 clinical trial, with initial results expected in the middle of the year 2021.miRagen is funding its current research with a $ 91 million capital increase, arranged in a private placement financing agreement. With this agreement in place, miRagen ended the third quarter with $ 144 million in cash available, but most importantly, a clear cash trail extending through 2023. Among the bulls is Oppenheimer analyst Leland Gershell, who ranks MGEN such as Outperform (ie Buy), along with a $ 37 price target. This figure indicates room for 102% growth in one year. (To see Gershell’s track record, click here) Supporting his position, Gershell says: “The recent acquisition of Viridian and a $ 91 million increase put miRagen in a new direction as new programs position it to compete in the market of fertile eye diseases of the thyroid … we see ample revenue potential for [VRDN-001], and its greater power may allow differentiation … We hope that progress in the development of MGEN’s TED candidates will support superior performance. ”Overall, Wall Street likes the risk / reward factor at play here, as TipRanks has a strong buying consensus rooting for MGEN’s success. The shares are being sold for $ 18.26 and have an average target price of $ 32. This target implies a 75% increase from current levels. (See MGEN stock analysis at TipRanks) Oric Pharmaceuticals (ORIC) The success of the pharmaceutical industry, ironically, has posed a significant challenge: many diseases are becoming resistant to existing therapies. Many cancers are among the diseases subject to resistance and consequent recurrence, serious problems that both impact the patient’s quality of life and increase mortality rates. Oric Pharmaceuticals, a state-of-the-art biopharmaceutical research company, is working on treatments to overcome cancer resistance. Oric’s main 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 one for solid tumors. Modern drug research is expensive, and Oric recently raised capital through a successful public offering. The company placed more than 5.79 million new shares on the market in November, at $ 23 each, and raised more than $ 133.3 million. Oppenheimer 5-star analyst Kevin DeGeeter covers Oric, and he is optimistic. DeGeeter supports his Outperform rating (ie Buy) with a target price of $ 62, which implies a potential 88% year-on-year increase. (To see DeGeeter’s history, click here) In support of his optimistic stance, DeGeeter writes: “We see ORIC as an investment in a leadership team with a previous history of developing clinically important cancer drugs. Our thesis assumes … clinical data that support the best profile of the ORIC-101 class based on ease of use or superior efficacy in the population selected by biomarker. We believe that current investor expectations add material value to the potential best-in-class ORIC-101 profile and management skills. ”Overall, ORIC’s shares gain unanimous approval from the analysts’ consensus, with 3 recent purchase assessments in addition to a strong purchase assessment. The stock price is $ 32.91, while the average price target of $ 50.67 indicates room for ~ 54% growth. (See the ORIC stock analysis at TipRanks) Triterras (TRIT) The next is a unicorn, a billion dollar fintech startup that has been on the public market for less than three months. Triterras provides an online commercial trading and financing platform, Kratos, based on blockchain technology. Trade finance, or the provision of credit services for the physical transportation of market commodities, is worth about $ 40 billion annually; The Triterras platform uses the secure nature of blockchain as a selling point for online merchants. Triterras went public through a merger of SPAC; that is, a business combination with a special acquisition company. These companies exist to buy a target company, inject capital, and then place the combined entity on public markets. Analyst Owen Lau, in his coverage of these shares for Oppenheimer, likes what he sees. Regarding the current situation of the company, he writes, “… the results and the momentum seem strong, and the orientation for the whole year implies a growth of 235% and 142% in relation to the previous year in revenue and net profit on a low basis . Most importantly, although the company is growing faster than other high-growth markets, the shares are traded at a discount in low-growth markets on average. ”At the end of the day, Lau is optimistic, saying:“ We see an intriguing role for electronic opportunity at Triterras, which leverages blockchain technology to stop the adoption of low technology in the commerce and trade finance industry. ”In line with these comments, Lau classifies TRIT as Outperform (ie buy), and its target price of $ 23 implies a 93% growth for the next year. (To view Lau’s history, click here) Overall, this company has 3 recent reviews recorded and all are for purchase, making the consensus of Strong Buy analysts unanimously positive. The shares are quoted at $ 10.94, with an average price target of $ 19, giving shares a potential appreciation of approximately 60% in one year. (See the TRIT stock analysis on TipRanks) To find good ideas for stock trading with attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that brings together all TipRanks stock insights. Disclaimer: The opinions expressed in this article are exclusively those of the analysts presented. The content should be used for informational purposes only. It is very important to do your own analysis before making any investments.