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Raymond James: These 3 stocks are poised to rise at least 50%
In a recent statement on stock markets, Raymond James equity strategist Tavis McCourt points out a number of political factors that play a role in current market volatility. The situation is perhaps more complex than most of us would like to admit. McCourt notes that permutations of the SLR rule, the political dynamics in the Senate Banking Committee, and the regulatory atmosphere for a possible return on investment influence Fed movements and market reactions. “We believe the Fed will do whatever it takes to ensure proper trading in US Treasuries and we don’t want to see the volatility and liquidity concerns that have arisen over the past week / course of the pandemic. We also believe the Fed is not interested in higher yields as the Treasury Department tries to fund the next round of economic activity, “said McCourt. The strategist added,” A political and market issue for the Fed during the SLR meeting is, we believe that any government bond and / or stock market sell-offs related to the debate are temporary and exaggerated. We are focusing more on improving the business environment, vaccine distribution and reflation. “With that in mind, we focused on three Raymond James-backed stocks, with the company’s analysts finding that each stock could rise above 50% of current levels. When tickers in TipRanks’ database, we found that the rest of the Road is on board as everyone has a consensus rating of moderate or strong buy. Orasure Technologies (OSUR) We’re going to start in the medical industry, an area that has Orasure is a medical diagnostic test maker known for developing rapid test kits for HIV, HEP-C and Ebola. Last year the company created over 150 jobs at its facilities in Bethlehem, Pennsylvania as part of developing rapid COVID test kits for the home. The company’s line of products is versatile and is being adapted to clinical applications Laboratories, hospitals, doctor’s offices and public health agencies are marketed where rld-wide As you can imagine, Orasure quickly recovered from a decline in sales in the first half, followed by strong gains. Fourth quarter revenue was $ 62.9 million, up 27% year over year. This was due to product and service revenue, which increased 28% to $ 60.4 million. EPS was positive at 3 cents per share, which is a good turnaround compared to the negative results in the first half of the year – but is down 25% compared to the fourth quarter of 19. For the full year, Orasure had net sales of $ 172 million, up 11% over the previous year. Of that, $ 50 million came from sales of oral fluid collection devices (mouth swabs) for COVID-19 test kits. In addition, the company reported further progress on its rapid COVID-19 antigen test and plans to submit prescription self-tests and professional tests for EUA (Emergency Use Authorization) by the FDA by the end of the first quarter. Analyst Andrew Cooper saw a lot to like in his coverage of Raymond James’ stock and ticked off the factors based on the numbers: “What we liked: 1) Almost every sales result. Orasure exceeded consensus sales estimates by 10% … 2) EEA submission schedule for specific antigens. There is no misunderstanding of an expected submission this month as the studies are finished and there is only more administrative work left … 3) More capacity expansion. Existing capacity deadlines are on track, but management now intends to add an additional 50 million Antigen capacity per year … ”To this end, Cooper sets a price target of $ 16 for the stock, which is an upward trend of 52% for one year , and rates OSUR on Outperform (ie Buy). (To see Cooper’s track record, click here.) A solid reputation in the field and a clear path forward are sure to keep the mood going – and three Wall Street analysts have given Orasure a buy rating, which is the analyst consensus makes a strong buy. The stock is priced at $ 10.49, and the average target price of $ 18.67 is even more bullish than Coopers’, suggesting a 78% uptrend for the next 12 months. (See OSUR stock analysis on TipRanks.) Sol-Gel Technologies (SLGL) We remain in the medical field with a focus on a clinical stage pharmaceutical company. Sol-Gel is an interesting niche biopharmaceutical developing topical drugs to treat skin diseases. The company’s pipeline includes two proprietary formulations based on benzoyl peroxide, both creams: Epsolay, a treatment for papulopustular rosacea, and Twyneo, a treatment for acne. Both drugs had their NDAs (New Drug Applications) filed with the FDA, and final approval decisions are expected in April and August of this year, respectively. In addition, Sol-Gel has three other drug candidates in the early stages of the pipeline process. Two are still in the research phase, while SGT-210 is in the phase I study. The results are expected in 1H21. SGT-210 is a potential treatment for palmoplantar keratoderma, a thickening of the skin on the palms of the hands and feet that is sometimes viewed as a symptom of several rare diseases. In addition, Sol-Gel works with Perrigo as a US manufacturer of generic labels for the company’s branded products. In 2020 the two companies signed four contracts and now have a total of 12 cooperation projects. Among the fans is Raymond James analyst Elliot Wilbur, who writes: “Given the great market opportunity in key pipeline products and the recent acceptance of NDA filings, we maintain our strong buy rating on SLGL shares as we Outlook and financial positioning remain optimistic on near-term growth. “The Strong Buy rating includes a target price of $ 23, suggesting SLGL has room for an impressive 156% growth in the coming year. (To see Wilbur’s track record, click here.) Small-cap biopharmaceuticals don’t always get a lot of analyst attention – they tend to fly under the radar. However, there are two ratings on it and both are available for purchase, making the consensus rating a moderate buy. SLGL shares are priced at $ 9, with an average target price of $ 22 indicating a runway up ~ 145% for 2021. (See SLGL stock analysis on TipRanks) PAE (PAE) Let’s shift gears and look at government support services. It is no secret that governments are large users of contract service companies, and PAE is a major provider of contract services to US government and defense agencies. PAE operates on every continent and in 60 countries and offers a range of services, including analysis and training, intelligence services, infrastructure operation, management and maintenance, logistical and material support and information optimization. Until recently, PAE was a privately held company, but it was merged with Gores Holdings III in a SPAC transaction last February. The transaction brought PAE shares to the NASDAQ exchange on February 10, 2020. 2021 has started with some changes in PAE’s contracts with the US government. In late January, the company lost an offer to renew a $ 125 million contract it had signed with Customs and Border Patrol since 2009. However, earlier that same month, PAE received $ 3.3. Billion dollar deal with the US State Department. The contract with the state includes consular operations in diplomatic institutions in 120 countries. In his coverage of PAE for Raymond James, 5-star analyst Brian Gesuale notes the change in contracts and doesn’t think it should bother PAE. “PAE’s qualified pipeline is still valued at approximately $ 40 billion with outstanding awards north of $ 6 billion. Combined with the company’s 2020 repeat rate of 93%, we can be confident that the CBP- Contract can be replaced appropriately, “commented Gesuale. Regarding the details of the state treaty, Gesuale adds: “… this contract win could bring the model 2022 high-margin annual sales of 110 to 125 million US dollars. Overall, our estimates are rising and we continue to see PAE as one of the most compelling opportunities in government IT services. While we anticipate the group will face a slowdown in fundamentals, a potentially meaningful re-rating that deviates from near-historic highs is likely to perform differently as it accelerates organic growth… ”Consistent with these comments the analyst rates the valuation as outperforming (ie buying) The stock and its price target of USD 15 imply an upward trend of 77% for one year. (To see Gesuale’s track record, click here.) PAE stock has a resounding “yes” on Wall Street. TipRanks analysis shows that out of 3 analysts, all 3 are bullish. The average target price of $ 12.67 shows a potential plus of around 50%. (See PAE 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 of TipRanks’ stock insights. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.