There’s no relief on the horizon yet for the beleaguered cruise line industry. On June 19, the Cruise Lines International Association (CLIA) announced all cruise operations will remain suspended until September 15.The announcement followed a disquieting quarterly report from struggling cruise line Carnival (CCL). In fiscal Q2, the world’s largest cruise operator lost $3.30 per share, more than double the Street’s $1.52 call. Revenue of $700 million also came in far below the $1.13 billion consensus estimate.For Deutsche Bank analyst Chris Woronka, the results are “of little consequence.” Cruise lines saw no action for virtually the whole quarter, and have been busy making sure the books are in order to keep themselves afloat while chained to the harbor. The analyst tells clients he is more concerned with what happens next.Carnival estimates that for the fiscal year’s second half (June- November), it will burn through $650 million a month. Woronka projects that...
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]...
The FDA’s equivalent of a red card – a CRL (complete response letter) – got handed out on June 19 to Nabriva Therapeutics (NBRV). Accordingly, the biotech’s share price has dropped nearly 15% since then.Nabriva might feel the market’s adverse reaction is a bit unfair. The company received the dreaded CRL for its complicated urinary tract infection (cUTI) treatment, CONTEPO, as a result of the FDA’s inability to inspect two of its manufacturing facilities due to coronavirus-induced travel restrictions.Nabriva already received a CRL for CONTEPO back in April of last year due to flaws at one of the company’s European CMOs (contract manufacturing organization).Before resubmitting CONTEPO’s NDA, Nabriva will request a meeting with the FDA to determine the next steps for the treatment’s road to approval and the agency’s plans for concluding the sites’ checkup.Although H.C. Wainwright’s Ed Acre notes the latest CRL represents an “unfortunate delay to CONTEPO’s approval,” the 5-star analyst...
Plant-based meat innovator Beyond Meat (BYND) has been one of Wall Street’s biggest standouts of 2020, with shares skyrocketing over 100%, thanks to strong retail figures.Beyond’s increasing presence on consumers’ shopping lists has caught the eye of Credit Suisse analyst Robert Moskow, who is singing a different tune after new data was published.“Contrary to our initial view, Beyond may emerge as a net beneficiary of the pandemic in the near-term due to strong demand in retail channel (48% of sales) and in the long-term due to rising consumer interest in healthier foods,” Moskow said.According to a Hunter consumer survey, since the pandemic’s onset, the percentage of people tucking into healthier food has grown by 20%. Evidently, more people are becoming aware of the benefits of a healthy lifestyle, particularly as it pertains to the body’s ability to combat illness.Moskow believes that after the pandemic’s demise, the trend will have a direct...
Anyone following the market in 2020 will be aware of the massive gains made by biotechs fighting the coronavirus. For companies in search of a vaccine or treatment, valuations have soared dramatically, as investors have piled in on the hope one can bring a viable solution to market.Among those making headlines, vaccine specialist Novavax (NVAX) has earned its place as one of 2020’s star performers. Based on a 1,658% year-to-date increase, there’s no doubt regarding its success.Yet, Cantor analyst Charles Duncan argues there are more gains on the way. In fact, the 5-star analyst has just increased his price target for the vaccine player by almost 100%.In addition to reiterating an Overweight rating, the price target moves from $45 to $88. There’s upside of "only" 25%, should Duncan’s target be met over the next 12 months. (To watch Duncan’s track record, click here)Novavax is one of the companies developing an experimental...
