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Egalet Corp Positioned Well As Obama Administration Fights Prescription Drug Abuse
The White House has announced a $1.1B initiative to combat prescription opioid drug abuse. In President Obama’s most recent State of the Union Address, he identified prescription drug abuse as one of his top priorities. Currently, 2.1 million Americans suffer from opioid-based dependence or abuse. One company has been in the news with its proprietary technology that makes it difficult to abuse prescription drugs, keeping them from being crushed or turned into more easily abusable powder. Egalet (EGLT) is a small cap ($195M) specialty pharmaceutical company that was founded in 1995. It is the first company to develop an erosion... -
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Massachusetts-Based Proteostatis Therapeutics IPO: Early Stage And Stiff Competition Keeps Us Cautious
Proteostatis Therapeutics Incorporated (Pending:PTI) expects to raise $50.0 million in its upcoming IPO. Based in Cambridge, Massachusetts, Proteostasis Therapeutics is a biopharmaceutical company that develops therapeutics to treat protein conformational diseases. We previewed PTI on our IPO Insights Platform, which includes deals on deck and real-time alerts. PTI will offer 3.85 million shares at an expected price range of $12 to $14. If the underwriters price the IPO at the mid-point of that range, PTI will have a market capitalization of $50.05 million. PTI filed for the IPO on December 23, 2015. Lead Underwriters: Leerink Partners and... -
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SP 500 And NDX Futures Daily Charts – Another Pop N’ Flop Below Key Resistance
“Unless you expect the unexpected you will not find it, for it is hidden and uncharted.” Heraclitus, as quoted by Euripides Once again we had a pop rally in equities based on some vain hope, in this case it was the dovish words of Chairman Yellen in her Fed testimony to the Congress. And once again stocks faded and closed below key overhead resistance. Bully will get one or two more tries at this sort of thing, and then I’m afraid that it is likely for stocks to roll over and take a trip downtown. Have a pleasant evening.... -
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Twitter Inc. Dives After Earnings For Stagnant User Growth
Twitter Inc. (NYSE:TWTR) released its fourth quarter earnings report after closing bell tonight, posting adjusted earnings of 16 cents per share, compared to the consensus of 12 cents per share, and revenue of $720 million, compared to the consensus of $710 million. Twitter shares plunged by as much as 12.35% to $13.13 per share in after-hours trades tonight as the company reported zero user growth quarter over quarter. Year to date, the stock was down by more than 35%, not counting tonight’s stock price movement. Shares seem to keep setting new record lows. Twitter struggles in user growth GAAP losses were 13 cents per share, while adjuste... -
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Gilead Sciences Retains Lead On Our Nasdaq Top-Ten List
According to our valuation model, stocks have not been this undervalued since November, 2011. At that time, the SP500 was around 1200. We can use our data to track individual stocks, industries, sectors, and indices. For today’s bulletin, we present key metrics for the top picks in the Nasdaq 100. The companies listed below represent the top-ten BUY and STRONG BUY stocks within the index. They are presented below according to their one-month forecast target prices. Gilead Sciences remains the overall leader and the only STRONG BUY stock in this list. We seen a bit a re-shuffling in the order as well as three new members of our top-ten s... -
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What Would It Take For The Prime U.S. Workforce To Fully Recover?
Written by Jill Mislinski Last week’s Employment Report for January disappointed forecasts. The unemployment rate ticked down to 4.9% and the number of new nonfarm jobs (a relatively volatile number subject to extensive revisions) dropped to 151K with December’s number revised downward by 30K. Our preference is to look at the data from a longer-term perspective and to give special attention to the data for the core workforce, ages 25-54. We continue to see evidence of major structural changes in the US workforce. Here is an updated series of charts illustrating some changes that are far more significant than the cyclical impact o... -
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“It’s Worse Than 2008”: CEO Of World’s Largest Shipping Company Delivers Dire Assessment Of Global Economy
Earlier today, we highlighted the rather abysmal results reported by Maersk, the world’s largest shipping company. To the extent the conglomerate is a bellwether for global growth and trade, things are looking pretty grim. Maersk Line – the company’s golden goose and the world’s largest container operator – racked up $182 million in red ink last quarter and the outlook for 2016 isn’t pretty either. The company now sees demand for seaborne container transportation rising a meager 1-3% for the year. “The demand for transportation of goods was significantly lower than expected, especially in the emerging mar... -
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E Why Bankruptcies May Not Boost Oil Prices
There are two popular theories regarding how and why oil prices should rise. As the energy bubble was credit-fueled, I will provide a credit market perspective on the energy sector. One theory is that the Saudis will bow to the wishes of OPEC (and potentially non-OPEC) producers and agree to production cuts. The idea is that once these swing producers reduce production oil prices should rise, perhaps to high-double-digit prices. This misses the fact that most U.S. shale oil drillers become profitable somewhere between $40 and $55 per barrel. As oil prices would approach this area, U.S. production would probably increase, particularly if it me... -
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Low Oil Prices Continue To Wreak Havoc, Canada’s Unemployment Ticks Higher
Oil is continuing to hover around horribly low $30.00 levels. The massacre in prices we have seen in this market since it began to plunge has been truly historic, crippling countries that rely heavily on this commodity. Two countries that we have written about extensively, Russia and Canada, have both felt the pain that a crashing oil market can cause, and are experiencing unemployment and inflation rise. In addition to this, both countries’ currencies have witnessed massive setbacks, which only adds to the pain, given the large amount of imports they require to function. Today we focus on Canada, which is once again feeling the pinch of co...
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