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The recent decline in these 3 stocks is a “buying opportunity,” analysts say
It’s that time again – time to look for upward moving stocks at relative bargain prices. We have just seen a decline in market prices, but for some stocks the decline started earlier and has gone lower. This opens up opportunities that Wall Street analysts were quick to point out. These are Strong Buy stocks, despite their recent losses. Analysts have found that everyone has a path to short-term gains, which makes risk-reward factors appropriate for high-return investors. And since prices have dropped lately, these are great for bargain hunters too. We used TipRanks’ database to find three stocks that match this profile. Let’s take a closer look. Farfetch, Ltd. (FTCH) Online retailers have obviously had an advantage over the past year, but on the other hand, the recent reopening of economies around the world has put pressure on them. Farfetch, an online clothing retailer with an international profile – headquarters in London, offices in New York, LA, Tokyo, Shanghai, Portugal and Brazil – shows both trends. The company’s earnings in the second half of 20 pushed its market cap well above $ 16 billion, while recent stressors have pushed the stock price down 38% from its February high. Farfetch has a solid foundation built on more than 3 million active customers and over 1,300 sellers on the platform. In 2020, the site had over $ 3.2 billion in gross merchandise. This makes the company the world’s leading platform for buying luxury products online. The gross value of the goods increased by 49% compared to the previous year. Bottom line, Farfetch’s 2020 revenue grew 64% year over year to $ 1.7 billion, with $ 540 million, about a third of that, in the fourth quarter. 5-star analyst Doug Anmuth reports on Farfetch for JP Morgan, noting that the recent weakness created a “compelling buying opportunity”. This opportunity is based on: “1) FTCH’s position as a leading global marketplace in the US $ 300 billion luxury market that is rapidly shifting online; 2) FTCH’s established e-concession model, bringing more brands and inventory to the platform lures, and 3) FTCH’s strong position in the high-growth Chinese luxury market through the FTCH app and the recently opened store in Alibaba’s Tmall Luxury Pavilion. FTCH should also see its first full year of EBITDA profit in 2021, with the way to Due to greater scalability over time, leverage is required for both gross margin and G&A. “In line with this bullish outlook, Anmuth rates FTCH as overweight (ie buy), with a target price of $ 72 giving an upside potential of 58% for a year suggests. (To see Anmuth’s track record, click here) Farfetch is based on 7 buy-scores that offset a single hold Share price of the stock is $ 45.50, and the average target of $ 74.38 implies an uptrend of ~ 63% for the next 12 months. (See FTCH stock analysis on TipRanks) Oncternal Therapeutics (ONCT) Next stock on our list, Oncternal, is a clinical-stage biopharma company focused on oncology. The company is working to develop new therapies for cancers with unmet critical needs. The company’s pipeline includes three drug candidates in various stages of development from pre-clinical. The lead candidate in the pipeline, cirmtuzumab, is the one undergoing this study. The drug is a monoclonal antibody that blocks the ROR1 receptor in certain types of haematological cancer. In December, the company released preliminary P. hase 1/2 efficacy results for cirmtuzumab in combination with ibrutinib. The combination was cheap compared to ibrutinib as a single agent. Cirmtuzumab is also in a phase 1 clinical trial for the treatment of breast cancer. Updated results released earlier this month showed partial response or stable disease occurred in half or more of the patient cohort. Despite positive clinical results, Oncternal stock fell 30% that month. Northland analyst Carl Nynes said investors should take the time to buy into a notice titled “Weakness Creates Buying Opportunities”. “We view ONCT stock as a significant equity investment for those investing in the oncology segment, with several clinical updates expected to serve as main catalysts in 2Q21. We believe that cirmtuzumab (anti-ROR1 mAb) is a breakthrough therapeutic for the treatment of MCL and other ROR1-expressing malignancies. In addition, we expect the ROR1 CAR-T candidate to be administered to humans for the first time in China in the second half of 21, “said Bynes. In line with its bullish outlook, Bynes rates ONCT as outperforming (ie buying), and target price of $ 21 implies an impressive upward price of 265% over the coming year. (To see Bynes’ track record, click here) Wall Street was unanimous on ONCT and the stock received 4 positive ratings recently for a strong buy consensus. Rating given $ 15.50 means an uptrend of ~ 170% versus the share price of $ 5.75. (See ONCT stock analysis on TipRanks) BioLife Solutions (BLFS) Pharmaceutical Companies Can’t Get Their Job Done Without Support Services – or without products from companies like BioLife, which supplies bioproduction tools for cell and gene therapy, including cryopreservation storage, biopreservation for the Blood storage, hypothermic storage and shipping media, and most importantly, cell thawing media that enable the use of biosamples after cryopreservation. BioLife’s quarterly top line has shown sequential gains in both Q3 and Q4. The increase in the third quarter was 14% and rose to 30% in the fourth quarter. Fourth quarter revenue increased 78% year over year to $ 14.7 million. For the full year, the return on sales reached $ 48.1 million, up 76% over the previous year. The company has provided revenue projections in the range of $ 101 million to $ 110 million for 2021. With this in mind, we can look at stock performance. BLFS stock peaked in December after rising 176% in 12 months. Since then, stocks have declined 31%. Carl Bynes of Northland Capital sees this withdrawal as an “in” for investors. “We view the recent BioLife stock withdrawal as a buying opportunity. We believe BioLife is uniquely positioned to establish itself as the leading consolidator of the Enabling Technologies segment, which supports the high-growth cell and gene therapy sector. The Co., through internal development and Acquisition has brought together a full suite of products and services that support cell and gene therapy applications from development to commercialization, ”said Bynes, adding that Bynes is targeting BioLife with an outperformance (ie purchase) price of $ 55 is to show a 12 month upside potential of ~ 75%. (To see Bynes’ track record, click here) Given the consensus breakdown, Wall Street is optimistic about BLFS, with 6 buys and 1 hold versus The previous three issued months make the stock a “strong buy.” BLFS shares are up for It sold $ 31.51 and its average price target of $ 55.83 suggests a 77% upside. (See BLFS Stock Analysis on TipRanks.) To find great ideas for trading rundown stocks at attractive valuations, visit TipRanks ‘Best Stocks to Buy, a newly launched tool that brings together all of TipRanks’ insights into stocks. Disclaimer: The opinions expressed in this article are solely those of the presented analysts. The content is intended to be used for informational purposes only. It is very important that you do your own analysis beforehand on any investment.