China says it won’t approve TikTok sale, calls it ‘extortion’


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Goldman Sachs: These 3 Stocks Are Poised to Surge by at Least 50%

Is it time for the bears to break out the champagne glasses? Not so fast, says Goldman Sachs. Volatility has ruled the Street for the last few weeks, leading some to conclude that those with a more pessimistic outlook had been vindicated, but the firm believes stocks can still climb higher.According to Goldman Sachs’ head of U.S. equity strategy, David Kostin, the S&P 500 could still hit 3,600 by the end of the year, and 3,800 by mid-2021, on the back of vaccine-related optimism and progress with the economic reopening. This would reflect gains of 10% and 16%, respectively, should the index ultimately reach these targets.“Despite the sharp sell-off in the past week, we remain optimistic about the path of the U.S. equity market in coming months. The Superforecaster probability of a mass-distributed vaccine by Q1 2021 has surged to nearly 70% and economic data show a continuing recovery,” Kostin wrote in a recent note. On top of this, the strategist argues the vaccine’s arrival will push U.S. GDP growth to 6%, compared to the 3.9% consensus estimate.Given Kostin’s outlook, we wanted to check out three stocks scoring major praise from Goldman Sachs. Not only have they been given a Buy rating, but the firm’s analysts also see at least 50% upside potential on tap for each. Using TipRanks’ database, we found out that all three tickers have gotten a thumbs up from analysts at other firms as well. Let’s take a closer look.Intellia Therapeutics (NTLA)Focused on utilizing gene editing to develop cell therapies, Intellia Therapeutics wants to stomp out cancer and other immunological diseases for good. Based on its innovative technology, Goldman Sachs recommends that investors pull the trigger.Representing the firm, 5-star analyst Salveen Richter believes that what makes NTLA a stand-out is its “use of an adaptive gene editing system based on a proprietary lipid nanoparticle (LNP) delivery method of CRISPR/Cas9 to leverage multiple gene editing strategies.” These include the generation of knock-outs (KO) for toxic genes, restoring functional genes by inserting new DNA sequences and the use of consecutive editing combining KO and insertion approaches.“We are positive on NTLA’s in vivo gene editing approach as it offers a modular system with CRISPR/Cas9 gene editing for functionally curative outcomes. While we note the initial focus is on delivery to the liver, extrahepatic tissue targeting (i.e. CNS) could expand the breadth of NTLA’s platform. NTLA is also leveraging its CRISPR/Cas9 editing tools ex vivo to create next-generation engineered cells that can treat oncological and immunological diseases,” Richter explained.To this end, the analyst sees several potential catalysts on tap for the next year. Proof-of-concept data for lead program NTLA-2001, its therapy targeting transthyretin amyloidosis (ATTR), a slowly progressive condition characterized by the buildup of abnormal deposits of a protein called amyloid (amyloidosis) in the body’s organs and tissues, could come by mid-2021. This data stands to “inform the drug’s clinical profile (safety/tolerability and early signs of sustained TTR knockdown),” which would de-risk NTLA’s in vivo editing platform, in Richter’s opinion.On top of this, IND-enabling studies for NTLA-2002, its therapy designed for hereditary angioedema (HAE), and NTLA-5001, its therapy for WT1+ acute myeloid leukemia (AML), are set to kick off in 2021. Richter estimates that peak sales for both candidates could reach $895 million and $806 million, respectively, with data from both also validating “the breadth of editing approaches (knockouts and/or insertions).”If that wasn’t enough, Richter cites the ongoing NVS-led Phase 1/2 OTQ923 sickle cell disease (SCD) trial as a possible upside driver. “While we note the limited economics to NTLA from this program and competitor dynamics with bluebird bio’s (BLUE) LentiGlobin and CRISPR Therapeutics’ (CRSP) CTX001 that are ahead in clinical development, the study should serve as proof-of-concept for the platform. First data could be presented in 2021,” the analyst commented.All of this prompted Richer to initiate coverage with a Buy rating and $33 price target. This target conveys her confidence in NTLA’s ability to climb 50% higher in the next year. (To watch Richter’s track record, click here)Looking at the consensus breakdown, 3 Buys and 2 Holds have been published in the last three months. Therefore, NTLA gets a Moderate Buy consensus rating. Based on the $37.13 average price target, shares could rise 67% in the next year. (See NTLA stock analysis on TipRanks)Vir Biotechnology (VIR)Moving on to another healthcare company, Vir…



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