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Shares of Atossa Therapeutics (ATOS) have done what shares of most companies in the hunt for coronavirus solutions have done in 2020 – appreciate. Since the turn of the year, there has been 171% of upside for the Seattle-based biotech firm.Despite the impressive gains, the micro-cap still has a market cap of only $39 million. Going by his revised outlook for Atossa, Maxim’s 5-star analyst Jason McCarthy believes the stock remains seriously undervalued.McCarthy recently doubled his price target from $4 to $8. The implication for investors? Upside of a very hefty 119%. There’s no change to McCarthy’s rating, which remains a Buy. (To watch McCarthy’s track record, click here)Along with the company’s core breast cancer and mammographic breast density programs, McCarthy adds recent developments in Atossa’s battle against COVID-19 as possible catalysts to drive shares even higher.Atossa already has one COVID-19 treatment in development – AT-H201 (HOPE), for which it announced positive in vitro...
The coronavirus has hit the airline industry particularly hard. As long as COVID-19 rages, it is unlikely that there will be a meaningful resumption of normal services. In the meantime, airlines have taken drastic measures such as refinancing, taking on piles of extra debt, severe cost-cutting initiatives and furloughing employees, in order to remain afloat.But apart from extreme courses of action, the industry will need to be creative to keep the wolf from the door. A new partnership between American Airlines (AAL) and JetBlue (JBLU) could be the first of many collaborations over the coming months.Although, new might not be the right word here. It’s more a rekindling of an old flame. A decade ago, the two forged a partnership that petered out after four years, so it remains to be seen whether the outcome will be more positive this time around.The deal, announced on July 16, will provide AAL with...
(Bloomberg) -- Silver jumped to the highest in almost seven years and gold continued its march toward a record on expectations more stimulus is needed to help the global economy recover from the coronavirus pandemic.Investors have flocked to the precious metals on surging demand for havens amid a resurgence in virus cases, slowing growth and negative real interest rates in the U.S. After the success of a European rescue package this week, focus turns to negotiations between Republicans and Democrats on legislation to prop up the hobbled American economy.Holdings in exchange-traded funds backed by the metals are at an all-time high. Silver, used in manufactured products ranging from solar panels to electronics, is getting an added boost from supply concerns and bets on a rebound in industrial demand.“Like gold, silver has benefited this year from safe haven demand and falling long term U.S. real yields,” Vivek Dhar, an analyst at Commonwealth...
(Bloomberg) -- Seo Jung-jin used to borrow money from loan sharks, pledging his organs to get much needed funds for his upstart drugmaker. Now he’s the second-richest person in South Korea, trailing just Samsung Electronics Co.’s chairman.The Celltrion Inc. founder’s fortune has swelled to $10 billion as shares of his company, which is developing a Covid-19 treatment, almost doubled this year.His rise is extraordinary and represents a shift in the country’s business elite. While family-run conglomerates touch almost every aspect of life in South Korea, more corporate founders making fortunes in non-traditional sectors like Seo have emerged. As the coronavirus pandemic upended people’s lives, the trend has only become more pronounced, with the chaebols losing more of their luster.“Boundaries between industries are getting blurry,” said Park Ju-gun, president of corporate watchdog CEOScore in Seoul. “Those who sit still with traditional businesses don’t cope well with the change. The pandemic has accelerated...
Just when you thought things could not get any worse for A&D giant Boeing (BA), more dispiriting news gets revealed.Last week, Boeing reported that another 60 MAX 737 orders were cancelled in June, bringing the yearly cancellation total to 373. Boeing has an additional 439 orders that are currently considered at risk.All in all, in the second quarter, Boeing delivered just 20 commercial aircrafts. While only 10 orders left the warehouse in June, the figure is still an improvement on the 4 delivered in May.Boeing will report 2Q20 results on July 29, and ahead of the print, Canaccord’s 5-star analyst Ken Herbert consoles investors by stating the second quarter could be the low point for commercial orders and deliveries.“We believe Q2 will be the trough for deliveries, but the pace of recovery now appears to be more muted than hoped for just a few months ago… Considering the importance of the MAX to...
More by accident than design, Zoom (ZM) has perfectly captured the zeitgeist in 2020. Far from a household name before the coronavirus struck, the viral outbreak has catapulted the video conferencing platform into millions of living rooms, studies, and home offices around the world. Not to mention investors have reaped hefty rewards with the platform’s rise in popularity (the stock is up 285% year-to-date).While Zoom has become the public’s remote communication tool of choice, not all users and employees – spread out across all demographics of society – are tech savvy enough to set up the equipment and software needed to make use of the platform. To address this issue, Zoom has partnered with video-conferencing appliance maker DTEN to create a large tablet-like touchscreen device with Zoom software already set up, with it virtually ready to go when unpacked from the box. The Zoom For Home — DTEN ME, which will...
Investors of Moderna (MRNA) slept soundly last weekend, as shares ended each session in the green during the week. Saving the best for last, on Friday July 17, Moderna posted a 16% uptick after it was revealed that the European Union (EU) might purchase Moderna’s experimental COVID-19 vaccine. The latest surge has sent the stock to a record high, having added 310% of muscle since the turn of the year.With a Phase 2 study currently in progress, and a Phase 3 trial of mRNA-1273 set to begin on July 27, Oppenheimer analyst Hartaj Singh sees a rocky path ahead, yet remains optimistic.“MRNA's valuation, in our view, is reflecting an approval and fast uptake of mRNA-1273, in line with other historical biotech comps. Pricing dynamics, potential donation of free vaccine and distribution of mRNA-1273 are non-trivial issues. We believe these can be navigated, but transit could be choppy. As the leader in...
