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The Biotech Analyst Run Down For Friday

Jul. 17, 2020 9:54 AM ETATRA, CLPT, ABT, INCY6 Comments
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True monsters are not those lurking under the bed, but the ones sleeping in it.”― Silje Akselberg Iversen

The market posted some slight losses on Thursday.  Given increasing rumors of other states thinking about rolling back some reopening phases, it was a decent performance for equities.  Housing starts rose some 17% in June and I think housing will continue to benefit from the accelerated migration from high tax/high density cities like New York and Chicago which I detailed in this recent article.

The market is slightly up today in the early going.

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As we begin trading this Friday, here are four biotech and healthcare stocks analyst firms like this morning.

Canaccord Genuity maintains its Buy rating with Street high $70 price target on Atara Biotherapeutics (ATRA) today.

Data Point:

The Chinese housing bubble, many economists say, now eclipses the one in U.S. housing in the 2000s. At the peak of the U.S. property boom, about $900 billion a year was being invested in residential real estate. In the 12 months ended in June, about $1.4 trillion was invested in Chinese housing. More was invested last month in Chinese real estate than any other month on record.

Cardiovascular Systems (CSII) sees its first analyst action of the third quarter as Oppenheimer initiates this small St. Paul medical device concern as a new Overweight with a $45 price target this morning.

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ClearPoint Neuro (CLPT) is initiated as a new Buy with a $8 price target at B.Riley FBR today. Riley's analyst believes the company possesses  "best-in-class" technology, favorable industry backdrop, positive data, and "substantial momentum" indicate ClearPoint is reaching an inflection point, which will likely result in strong growth, a meaningful increase to gross margins, and share price appreciation. Further, ClearPoint Neuro could be an attractive acquisition target by larger players in the space, such as Medtronic (MDT) and Abbott (ABT), that may look to potentially limit market share erosion by integrating the company's disruptive" MRI-guided solutions'

Factoid of the Day:

This (The $600 a week Federal unemployment stipend) has already produced the anomaly that, despite an 11.1% nationwide jobless rate, employers in much of the country still can’t find enough workers. The Labor Department’s July 7 Jolts survey found that job openings rose to 5.4 million on the last business day of May. Job openings rose in accommodation and food services (+196,000), retail trade (+147,000), and construction (+118,000), among others.

After two Hold ratings last week, Incyte (INCY) sees some positive analyst action today as Oppenheimer reiterates their Buy rating and $121 price target on this large oncology concern.

And those are four small caps garnering some positive analyst commentary before the bell this Friday.

Soft feathers cannot make a cruel bird kind”― Munia Khan

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Live Chat on The Biotech Forum continues to be very active with new trade and the lucrative covered call ideas available thanks to the spike in market volatility in 2020 throughout the trading day. If you join the The Biotech Forum by clicking HERE you will get our latest 'option play of the week' which came out Tuesday as well as access to our model portfolio, investment archives and a very active Live Chat area during the trading day.

Thank You & Happy Hunting,

Bret Jensen

Founder, The Biotech Forum, The Busted IPO Forum & The Insiders Forum

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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