Entering text into the input field will update the search result below

Morning Market Musings: September 24th

Sep. 24, 2020 8:38 AM ETGMDA, OTIC, VCYT, VTVT13 Comments
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Specializing in biotech stocks, Small Caps, managing optimized portfolios

Seeking Alpha Analyst Since 2009

Finding tomorrow's big winners in the lucrative biotech sector, The Biotech Forum focuses on proprietary, breaking research on promising biotech and biopharma stocks with significant potential for outsized alpha. It is the fourth most subscribed to investment service offered through the Marketplace on SeekingAlpha.com. Our service offers a model-20 stock portfolio as well as the most active Live Chat on the Marketplace. This is where scores of seasoned biotech investors trade news and investment ideas back and forth throughout the trading day.

• • •

Specializing in profiling high beta sectors, Bret Jensen founded and also manages The Biotech Forum, The Insiders Forum, and the Busted IPO Forum model portfolios. Finding “gems” in the biotech and small-cap stock sectors, these highly volatile spaces proven hugely successful have empowered Bret Jensen's own investing portfolio.

• • •

Learn more about Bret Jensen's Marketplace Offerings:

The Insiders Forum | The Biotech Forum | Busted IPO Forum

I prefer to be true to myself, even at the hazard of incurring the ridicule of others, rather than to be false, and to incur my own abhorrence.”― Frederick Douglass

Note: Going forward the Biotech Analyst Run Down will be called the Morning Market Musings.

The weakness we have seen recently in the market continued during Wednesday's trading session as the S&P 500 lost 2.3%.  The decline was broad based as both the NASDAQ and the Russell 2000 lost just over three percent each Wednesday.

The breadth of the rally had us concerned before this latest market sell-off.  Given continued violence in many American cities as well as one of the most contentious elections in our history on the horizon, many investors are concluding discretion is the better part of valor in recent weeks.

The housing market (I, II) continues to be one of the strongest parts of the economy.  September PMI Manufacturing levels also came in slightly above expectations yesterday.

Pre-market futures are currently pointing to a slightly down opening.

The Latest Post On The Biotech Maven:

As trading is about to begin, here are four small healthcare plays that analyst firms like this Thursday.

Otonomy (OTCPK:OTIC) sees its first analyst action so far in September.  Oppenheimer comes out and maintains its Buy rating and $8 price target on the stock this morning.

Data Point:

The Centers for Disease Control and Prevention has tracked thousands of deaths this year beyond expected levels for conditions that also include hypertension, strokes and diabetes. Physicians say the surge was especially notable in the spring, when the pandemic hit New York and other parts of the Northeast hard.

After being initiated as an Underweight two weeks ago by Morgan Stanley, Veracyte (VCYT) gets a vote of confidence from Needham this morning.  The analyst firm reiterates its Buy rating and $37 price target on VCYT today.

Don't forget about this special offer from the Dividend Hunter.  50% OFF a full year subscription to one of the largest monthly dividend newsletters (over 10,000 subscribers). A ridiculously low $49 annually by clicking here.

Gamida Cell (GMDA) gets some new analyst support this morning.  Both Oppenheimer ($20 price target) and Needham ($17 price target) initiate the shares as a new Buy this Thursday morning.

Factoid of the Day:

A new Wealth Tax law in the works that would require people with high incomes such as business owners leaving California to continue to pay taxes to the state for 10 years, even though they no longer live there. In other words, successful business owners who leave California will have to pay taxes to two separate state governments at the same time.

Finally, we have vTv Therapeutics (VTVT) which we recently provided a 'deep dive' on.  Today, Northland Securities reissues its Buy rating and Street high $8 price target on.

And those are four small biotech stocks getting the nod from the analyst community in early trading Thursday.

Lead your life so you wouldn't be ashamed to sell the family parrot to the town gossip. ”― Will Rogers

Image result for Act Now

Over the fourth quarter of 2019 and the first quarter of 2020, we provided 25 covered call ideas exclusively to Biotech Forum members. Of those, three lost money, two broke even and the other 20 were all profitable trades. To get our 'option play of the week', access to our model portfolio, investment archives and weekly 'deep dives' just join our community at The Biotech Forum by clicking HERE.

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.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.