TipRanks
The recent downside in these three stocks is a ‘buying opportunity’, analysts say
It’s that time again – time to look for upward mobile stocks at relative bargain prices. We have just seen a downturn in market prices, but for some stocks the pullback started earlier and rose deeper. It offers opportunities that Wall Street analysts have quickly pointed out. These are strong buy stocks, despite the recent decline in their stock value. The analysts noted that each has a path to short-term gains, making the risk-reward factors suitable for investors with a return. And with recent prices lower, it’s also suitable for bargain hunters. We used TipRanks’ database to find three stocks that match the profile. Let’s take a closer look. Farfetch, Ltd. (FTCH) Of course, online retailers have had an advantage over the past year, but on the other hand, the recent reopening of economies around the world has put some pressure on them. Farfetch, an online clothing retailer with an international profile – headquartered in London, with offices in New York, LA, Tokyo, Shanghai, Portugal and Brazil – are both showing trends. The company’s profit in 2H20 pushed its market capitalization well above $ 16 billion, while recent stressors have sent the share price down 38% since the February high. Farfetch has a solid base, based on more than 3 million active customers and more than 1,300 vendors on the platform. The company launched more than $ 3.2 billion gross merchandise through the website in 2020, making it the best global platform for buying luxury products online. The gross trade value increased by 49% from the previous year. On the top line, Farfetch’s revenue in 2020 was 64% higher year-on-year, to $ 1.7 billion, with $ 540 million, about one-third of total, coming in the fourth quarter. 5-star analyst Doug Anmuth, who discusses Farfetch for JP Morgan, says the recent weakness has created a ‘compelling buying opportunity’. This event is based on: “1) FTCH’s position as the leading global market in the rapidly changing $ 300 billion online market; 2) FTCH’s established e-concession model that attracts more brands and inventory to the platform; and 3) The strong position of FTCH in the Chinese growing luxury market through the FTCH app and the recently launched store on Alibaba’s Tmall Luxury Pavilion, FTCH should also see its first full year of EBITDA profit in 2021, with the road to greater scalability over time, driven by leverage in both Gross Margin and G&A. ”Consistent with this positive outlook, Anmuth FTCH estimates an overweight (i.e. buy), with a price target of $ 72 indicating a one-year lead of 58 %. (Click here to see Anmuth’s performance history) Farfetch is based on 7 Buy reviews, compensating for a single Hold, the share price is $ 45.50, and the average target of $ 74.38 implies ~ 63% upside down for the next 12 months (see FTCH stock analysis on TipRanks) Oncternal Therapeutics (ONCT)) The next stock on our list, Oncternal, is a clinical-stage biopharmaceutical company focused on oncology. The company is working on developing new treatments for cancers with insufficient critical needs. The company’s pipeline has three drug candidates, which exist in different stages of development from preclinical development. after a phase 2 trial. The main candidate in the pipeline, cirmtuzumab, is the one undergoing the trial. The drug is a monoclonal antibody that inhibits the ROR1 receptor in certain hematological cancers. In December, the company announced the interim P 1/2 results from the efficacy of cirmtuzumab in combination with ibrutinib. The combination compared favorably with ibrutinib as a single drug. Cirmtuzumab has also been used in a Phase 1 clinical trial as a treatment for breast cancer; updated results released earlier this month showed a partial response or a stable disease in half or more of the patient group. Despite the positive clinical results, Oncternal’s share tumbled 30% this month. According to Northland analyst Carl Bynes, in a note entitled ‘Weakness Creates Buying Opportunity’, investors should take this time to buy. ‘We view shares of ONCT as a vital concern for those investing in the oncology segment, with several clinical updates expected. in 2K21 which serve as GREAT catalysts. We believe that cirmtuzumab (anti-ROR1 mAb) is positioned to become a breakthrough for the treatment of MCL and other ROR1-expressing malignancies. Furthermore, we expect the first-in-human dose of its ROR1 CAR-T candidate in 2H21 in China “, Bynes believes. Bynes considers ONCT to be a better performance (ie buy), and its $ 21 price target implies a Wall Street has taken a unanimous stance on ONCT, giving the stock 4 recent positive reviews for a strong buy consensus rating.The average price target, at a 265% rise in the coming year (around Bynes’s) record, click here). $ 15.50, indicates ~ 170% upside down from the $ 5.75 share price (see ONCT stock analysis on TipRanks) BioLife Solutions (BLFS) Medicine companies can not do their job without support services – or the products provided by companies such as BioLife, offering bioproduction tools for cell and gene therapy, including cryopreservation storage units, biopreservation for blood storage, hypothermic storage and shipping media, and, more importantly, the thaw gsmedia enabling the use of bio-samples after cryopreservation. showed successive gains in both Q3 and Q4. The third quarter profit was 14% and increased to 30% in the fourth quarter. Q4 revenue, at $ 14.7 million, rose 78%. For the full year, the topline achieved $ 48.1 million, a yoy profit of 76%. The company provided a 2021 revenue list in the region of $ 101 million to $ 110 million. With this in the background, we can look at the stock performance. The BLFS shares peaked in December, after rising 176% in 12 months. Since then, the stock has retreated 31%. Carl Bynes, of Northland Capital, regards the return of a stock as an ‘in’ for investors. “We view the recent downturn in BioLife shares as a buying opportunity. In our view, BioLife is uniquely positioned to support as the leading consolidator of the empowerment technology segment supporting the cell and gene therapy growth sector. The Co. internal development and acquisitions, has amassed a comprehensive product and service offering that supports cell and gene therapy applications from development to commercialization, ”Bynes noted. Bynes rates BioLife for better performance (ie buy), along with a $ 55 price target to indicate a potential 12-month increase of ~ 75%. (To see Bynes’ record, click here) Looking at the consensus split, Wall Street takes a positive stance on BLFS. 6 Buys and 1 Hold issued over the previous three months make the stock a ‘Strong Buy’. BLFS shares sold for $ 31.51, and the average price target of $ 55.83 indicates a 77% increase. (See BLFS stock analysis on TipRanks) To find great ideas for struggling stocks trading at attractive valuations, visit TipRanks ‘best-selling stocks, a newly introduced tool that combines all the insights of TipRanks’ equity. Disclaimer: The opinions expressed in this article are solely those of the proposed analysts. The content is intended for informational use only. It is very important to do your own analysis before making any investment.