BlockMint Acquires NFTs By Famous Digital Creator Pak At Sotheby’s Auction To Support Its Minter Crypto-NFT Browser
Goldman Sachs: these 2 stocks are about to double (or more)
The new week started off on a negative note, as all 3 major indices retreated from record levels. After applauding recent strong economic data, the worsening global coronavirus situation appears to have dampened investor sentiment. But according to Goldman Sachs chief US equities strategist David Kostin, investors shouldn’t get too excited. The overall trend remains up and Kostin points out that volatility – the difference between highs and lows in the market – is on the downside. He sees the relative predictability of politics, now that the election is decided and behind us, as more definitive for short-term performance. “The low volatility outweighed the low correlations between stocks, bringing the dispersion of returns below the long-term average. As the United States moves past major macroeconomic events such as the 2020 election, the $ 1.9 trillion fiscal stimulus package, and the spike in economic activity, we predict three of the market-defining themes will be reform. fiscal, infrastructure and pricing power, ”Kostin said. Taking Kostin’s outlook into consideration, Goldman Sachs analysts are hammering the tables on two stocks, noting that each could double or more next year. Using the TipRanks database, we discovered that the rest of the street is on board as well, as each has a ‘Strong Buy’ consensus rating. DigitalOcean Holdings (DOCN) We will start in high tech, where DigitalOcean is a mid-sized fish among the giants of the sea. The company offers cloud computing services for developers, small and medium businesses and startups. DigitalOcean cannot compete with Amazon or Microsoft on a large scale, so the company has promoted simplicity as a virtue. The move brought some success; DigitalOcean claims more than 570,000 customers worldwide and had, at the end of 2020, $ 357 million in recurring annual revenue as well as 25% year-over-year revenue growth. The company operates 14 data centers, located in the United States and Canada, the United Kingdom, Germany and the Netherlands, as well as in India and Singapore. This all adds up to a solid foundation, and DigitalOcean has capitalized on it in the most direct way possible recently. The company went public and went public on March 24 of this year. The shares were priced at $ 47 and the company raised around $ 775 million. Analyst Christopher Merwin saw fit to launch coverage of this stock for Goldman Sachs with a buy note and a price target of $ 101. At current levels, this target suggests a year-over-year increase of 143%. (To see Merwin’s track record, click here) “While we believe some investors are applying an updated valuation to DigitalOcean due to lower gross margins, we believe this approach is too punitive as Digital Ocean has a sell motion. and highly effective marketing. In fact, sales and marketing spend was only 10% of revenue in 2020, largely due to highly efficient self-service to market and a strong community developers who help lower the cost of customer acquisition, “said Merwin. The analyst summed up:” With stronger growth and margin profile, we therefore believe that DigitalOcean should trade at a premium over to all of medium-growth peers. ”In a short time in public markets, DOCN garnered 10 reviews. These included 8 buys and 2 holds, making the analyst consensus rating a strong buy. The shares are priced at $ 41.50 with an average target of $ 58.20, making the potential upside 40% over the next 12 months. (See DOCN Stock Analysis on TipRanks) Apellis Pharmaceuticals (APLS) Shifting gears, we’ll take a look at Apellis, a biopharmaceutical company with a unique niche. Apellis focuses on C3 therapies, aimed at correcting the overactivation of the complement cascade, part of the immune system. The complement cascade, or complement, removes damaged cells, promotes inflammation, and attacks the cell membrane of pathogens. These activities are managed by a series of small proteins in sequence; Apellis targets C3, to control an overactive complement system. C3 is the central component of the cascade and its targeting addresses three possible pathways for disease. Apellis’ approach has potential applications in a wide range of medical fields, including hematology, nephrology, neurology and ophthalmology. The company’s pipeline includes a drug candidate, pegcetacoplan, with a wide range of applications. The drug acts directly on C3, and its targeted use has recently been shown to be effective with positive phase 3 data in a trial targeting paroxysmal nocturnal hemoglobinuria (PNH). In addition to studying the use of pegcetacoplan for PNH, Apellis has five other ongoing clinical research projects for the drug candidate. The PNH study is, however, the most advanced and the drug’s marketing applications – in the treatment of PNH – are under review by the FDA and the European Medicines Agency (EMA). PDUFA’s action date for the FDA is May 14 of this year. The main results of the phase 3 PRINCE study, using the drug to treat patients with PNH, are expected in 2Q21. Among other applications of pegcetacoplan, the Phase 3 Geographic Atrophy (GA) study is ongoing, with results expected in the third quarter of this year. Going forward, Apellis plans to integrate three new drug candidate programs into clinical development by the end of next year. In her coverage of this action for Goldman Sachs, 5-star analyst Madhu Kumar sees pegcetacoplan projects as the key here. We view APLS as the story of two independent franchises based on the complement cyclic peptide C3 inhibitor pegcetacoplan. While systemic pegcetacoplan has already provided clinical POC in PNH in the phase 3 PEGASUS trial, the results of which we believe should support drug approval as of the PDUFA date of May 14, 2021, the question is. More important this year is whether the pegcetacoplan IVT will succeed in the potentially huge market (we model the risk-adjusted maximum sales of $ 4.8 billion) of geographic atrophy (GA) in DERBY / OAKS phase 3 trials, for which high level data is expected in 3Q21, “the analyst said. Kumar continued,” Overall, we think Apellis provides an intriguing risk-reward profile in this 3Q21 data not because we are convinced of the success of IVT pegcetacoplan … but because we believe that the potential for success is substantial while the downside risk associated with failure is limited. “Kumar’s buy note comes with a price target of $ 130, which implies a steep 185% year-over-year increase in the stock (to look at Kumar’s track record, click here) Overall , this stock receives a firm Wall Street seal of approval, with a Strong Buy consensus rating based on 7 buys for 1 hold. APLS shares are trading at $ 45.64 and have an average target of 73.67 $ which indicates a 61% margin of appreciation over the coming year. (See APLS Stock Analysis on TipRanks) To find great ideas for stocks traded at attractive valuations, visit Top Stocks at buy from TipRanks, a newly launched tool that brings together all information about TipRanks stocks. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to make your e own analysis before making any investment.