In the investing game, it’s not just what you buy; it’s about when you buy it. One of the most common pieces of advice thrown around Street, “buy low” is touted as a tried and true tactic. Of course, the strategy seems simple. Stock prices naturally fluctuate based on a number of factors such as earnings yields and the macro environment, among others, with investors trying to time the market and determine when stocks hit rock bottom. However, in practice, executing this strategy is not an easy task. Also, given the volatility that has taken over the market over the past few weeks, how should investors measure when a name flirts with the bottom? That’s where the Wall Street professionals come in. These stock pickers have identified three interesting tickers whose share prices are currently approaching their 52-week lows. Noting that each is set to reverse on its upward trajectory, analysts see an interesting entry point. Using the TipRanks database, we find that consensus analysts have rated all three as Strong Buy, with a large potential upside also tapped. Progenity (PROG) Offering clear and actionable genetic results, Progenity specializes in providing testing services. The company started trading on the Nasdaq in June and has seen its shares fall 44% since then. With the stock changing hands at $ 8.11, some Street members recommend pulling the trigger before heating up Piper Sandler analyst Steven Mah pointed out that even against the backdrop of COVID-19, PROG managed to deliver its Q2 2020 performance. “We are driven by a recovery at the end of Q2 2020 with 75,000 accession tests (~ 79,000 in Q1 2020), driven by noninvasive prenatal testing (NIPT) and carrier screening,” said the analyst. Explaining this, Mah stated, “Progeny provides no guidance, but the June test volume is ~ 28,000 strong (Q1 2020 monthly average is ~ 26,000) which we believe showcases the robustness of its reproductive tests and the success that Progeny has together-market. and attaching operator screening to the more important NIPT. For the record, despite the pandemic disruption, Progenity was able to maintain its leading pre-COVID test completion time. “In addition, health insurance company Aetna temporarily expanded its average risk NIPT coverage to the end of the year as As a result of the pandemic, according to Mah, the American College of Obstetricians and Gynecologists (ACOG) is also expected to validate the average risk given its clinical usefulness, according to Mah. Reflecting on another positive, the fourth generation NIPT test (single molecule count test) is able to measure fetal fraction , an important milestone according to Mah, and will continue to be developed until 2021. Because te This chemistry has the potential to be applied to DNA, RNA, epigenetic markers, and proteins for additional clinical applications such as oncology, analysts hope for the completion of preeclampsia verification by Q4 2020 and the possible launch of 2H21. “We believe preeclampsia (~ 2.3 billion serviceable market) is the key differentiator for Progenity, enabling them to cross-sell across the full continuum of reproductive testing,” added the analyst. If that wasn’t enough, PROG signed its first GI Precision Medicine partnership agreement with the top 20 Pharmaceutical companies in August. The Oral Biotherapeutic Delivery System (OBDS), a combination drug and consumable device designed to systematically deliver biologics via needleless liquid jet injection into the submucosal tissue of the small intestine, will be used as part of the collaboration. Mah commented, “We are confident that Progenity can sign additional Pharmacy deals and look forward to the flow of news that comes out on this front.” In summary, Mah said, “We believe Progenity shares are under-rated given the strong recovery in its core testing business and some of the growth catalysts to come. “For this purpose, Mah gives PROG an Overweight (ie Buy) along with a target price of $ 17. If his thesis is successful, a twelve month profit of 105% could potentially be on the cards. (To see Mah’s track record, click here) Do other analysts agree? They. The Only Buy rating, 4, has actually been issued in the last three months. Therefore, the message is clear: PROG is a Strong Buy. Given the median price target of $ 13.33, stocks could be up 60% higher next year. (See PROG stock analysis at TipRanks) Tactile Systems Technology (TCMD) Developing a home therapy device, Tactile Systems Technology wants to provide new treatments for lymphedema, which occurs when the lymphatic system is disrupted, interferes with the normal transport of fluids within the body, and chronic venous insufficiency. Down 52% year-to-date, the share price of $ 32.67 is approaching a 52-week low of $ 29.47. Hence, with an improving business trend, Street is hitting the table. Writing for Canaccord, analyst Cecilia Furlong acknowledged that the pandemic has been holding back companies, with COVID-19 weighing on volumes and sales. In the second half of March, volumes fell by 50% compared to the first half of the month, and the volume of TCMD patients in April and May remains challenged. Because of this, the trend started to improve at the end of May. “Going forward, given that the majority of TCMD doctor customers practice in outpatient or office-based settings, we remain positive on TCMD’s ability to demonstrate better isolation from the impact of COVID and the likelihood of experiencing greater reflections relative to overall med-tech volume trends. , with TCMD benefiting further from expanding the use of technology to remotely engage physicians and support patients, “explains Furlong. The analyst added, “Furthermore, the recent trend among some providers to prescribe Flexitouch (an advanced intermittent pneumatic compression device for self-management of non-healing lymphedema and venous leg ulcers) earlier during the therapeutic process, as a way of reducing direct contact, could provide an advantage in In addition, Furlong is also optimistic about the new CEO Dan Reuvers and corporate investor reprioritization and market development efforts. TCMD will shift its focus away from the acquired Airwear product line, thereby diverting investment to Flexitouch and Entre products (pneumatic compression devices used to aid the home management of chronic swelling and venous ulcers associated with lymphedema and chronic venous insufficiency). “Given the significant low penetration in the lymphedema / phlebolymphedema market targeted by Flexitouch along with the population i a large patient with limited treatment options currently targeted by the company’s Head & Neck platform, we see a combination of educational and clinical data as key to developing and penetrating this further. market… Going forward, we expect management to continue to gather a broad clinical database to support replacement and drive broad adoption, ”commented Furlong. All of this prompted Furlong to maintain its Buy rating and a $ 62 price target on the stock. This target demonstrates its confidence in TCMD’s ability to soar 90% next year. (To see Furlong’s track record, click here) In general, other analysts agree. With 3 Buy and 1 Hold ratings, the news on the Way is that TCMD is a Strong Buy. The average price target of $ 62.33 carries the potential up to 91%. (See TCMD stock analysis at TipRanks) uniQure NV (QURE) Lastly, we have uniQure, which provides curative gene therapy that has the potential to change patients’ lives. Even though the stock has dropped 44% year-to-date to $ 40, not much higher than a 52-week low of $ 36.20, many analysts still have high hopes. Representing SVB Leerink, 5-star analyst Joseph Schwartz acknowledged that the stock was having a hard time following news of violating its collaboration agreement and licensing with CSL Behring for AMT-061, QURE gene therapy for Hemophilia B, he argued “the turnover of the shareholder base is likely now over because of investors. and QURE shifted focus to the next AMT-130, the AAV5 gene therapy for Huntington’s Disease (HD). Schwartz further added, “With the M&A premiums now exhausted, we see current QURE levels as an attractive buying opportunity for investors interested in the company’s rising CNS gene therapy. , internal manufacturing, and strong intellectual property and knowledge. “Taking a closer look at the agreement with CSL Behring, QURE will be tasked with completing HOPE-B’s critical Phase 3 trials as well as the validation manufacturing process and manufacturing supply of AMT-061. According to management, the 26-week Factor IX (FIX) data from all 54 patients enrolled in the trial remains on track, and outline data from important trials are still scheduled for reading by the YE20. It is worth mentioning that in the Phase 2b dose confirmation study, QURE reported 41% FIX activity within one year. In addition, Schwartz pointed out that with HOPE-B going according to plan, QURE has continued its manufacturing process validation work ahead of its anticipated BLA / MAA filings in the US and EU in 2021. Additionally, as part of the deal, QURE is eligible to receive more from $ 2 billion including $ 450 million up-front cash payments, $ 1.6 billion in regulatory and commercial milestones and double-digit royalties ranging up to a low twenty percentage of net product sales. “With a strengthened cash position, QURE is well-funded to rapidly advance CNS assets including AMT-130 (AAV5 gene therapy for Huntington’s Disease (HD)) and AMT-150 (AAV gene therapy for Spinocerebellar Ataxia Type 3 / SCA3). .. We continue to believe that as the SSP QURE pipeline of assets matures, the company could once again become an attractive partner for a larger biopharma company that has recently acquired many publicly traded gene therapy platforms with substantial manufacturing capabilities, ” said Schwartz. g that QURE did convince Schwartz to repeat the Better Performing (i.e. Buy) rankings. Simultaneously with the call, he set a target price of $ 67, indicating a potential rise of 68% from current levels. (To see Schwartz’s track record, click here) What did the other Street members have to say? 9 Buy and 3 Hold have been issued in the past three months, so the consensus rating is Buy Strong. Additionally, an average price target of $ 69.89 suggests a 75% increase potential. (See QURE stock analysis at TipRanks) To find great ideas for trading losing stocks at an interesting valuation, visit TipRanks ‘Best Stocks to Buy, a recently launched tool that brings together all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the leading analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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