Fly Intel: Top five analyst initiations » 10:0103/0503/05/21
CGNT, ARCH, ASAN, DZSI, LMB
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cognyte (CGNT) initiated with an Outperform at Evercore ISI. 2. Arch Resources (ARCH) initiated with a Neutral at Citi. 3. Asana (ASAN) initiated with an Outperform at Baird. 4. DZS (DZSI) initiated with a Buy at Stifel. 5. Limbach Holding (LMB) initiated with a Buy at Lake Street. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Eagle Bulk Shipping price target raised to $38 from $28 at BTIG » 09:0403/0503/05/21
BTIG analyst Gregory…
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Limbach Holding initiated with a Buy at Lake Street » 08:4903/0503/05/21
Lake Street analyst Rob…
Lake Street analyst Rob Brown initiated coverage of Limbach Holding with a Buy rating and $19 price target. He believes investors under-appreciate Limbach's recent improvement to its capital structure and the potential from a mix shift toward higher-margin, higher-growth services as the final stages of the company's turnaround effort should result in an earnings inflection, Brown said.
Jaguar Health enters third crofelemer royalty financing transaction for $5M » 08:3603/0503/05/21
Jaguar Health announced…
Jaguar Health announced that the company has entered a binding agreement of terms for a third non-dilutive royalty financing transaction, pursuant to which Jaguar would sell to the lender for an aggregate purchase price of $5M, a royalty interest in future potential crofelemer sales for the proposed COVID-related indication in long-hauler patients, for which the company is currently exploring the pathway of conditional marketing authorization in the European Union. Jaguar intends to use the proceeds from the proposed transaction to support regulatory activities associated with the company's development pipeline, including supporting the development program for crofelemer for the prophylaxis and/or symptomatic relief of inflammatory diarrhea, initially to be studied in a long-hauler COVID-19 recovery patient population. This $5M royalty financing transaction follows a $6M royalty transaction consummated in October 2020 and a $6M royalty transaction consummated in December 2020 with affiliates of the lender and is based on similar terms that will be outlined upon closing.
Eagle Bulk Shipping reports Q4 EPS 1c, consensus (29c) » 16:4603/0403/04/21
Reports Q4 revenue…
Reports Q4 revenue $75.2M, consensus $58.74M. Gary Vogel, Eagle Bulk's CEO, commented, "On the back of an improving macroeconomic landscape and our positive drybulk market outlook, we acquired a total of seven vessels over the past few months, bringing our proforma fleet to 52 ships, the highest in Eagle's history. We have purchased 27 vessels and sold 19 since we began our fleet renewal and growth initiative. The result is a fleet with significantly increased earnings potential, as well as a lower emissions profile. Importantly, 45 of our vessels, or 87% of our fleet, are fitted with scrubbers, giving us exposure to recently widening fuel spreads."
Caladrius treatment of Buerger's disease granted FDA orphan designation » 14:5403/0403/04/21
Caladrius Biosciences' GCSF-mobilized autologous CD34+ cells have been granted FDA orphan designation as a treatment of Buerger's disease, or thromboangiitis obliterans, according to a post to the agency's website. Reference Link
Salem Media reports Q4 EPS 12c, consensus 3c » 12:0303/0403/04/21
REports Q4 revenue…
REports Q4 revenue $64.48M, two est. $62.4M. Net broadcast revenue increased 5.9% compared to the third quarter of 2020 and decreased 4.8% compared to the fourth quarter of 2019; Total broadcast advertising/spot revenue increased 21.1% compared to the third quarter of 2020 and decreased 10.5% compared to the fourth quarter of 2019;
Ocugen price target raised to $10 from $9 at Roth Capital » 11:4203/0403/04/21
Roth Capital analyst…
Roth Capital analyst Zegbeh Jallah raised the firm's price target on Ocugen to $10 from $9 and keeps a Buy rating on the shares after the company's partner, Bharat, announced interim Phase 3 study results for its traditional COVID vaccine. Covaxin was reported to be safe and well-tolerated, with a competitive 81% efficacy, Jallah tells investors in a research note. Based on the license agreement, Ocugen could receive 45% of U.S. profits, she adds.
Roth boosts Ocugen target after partnered vaccine shows 'broad' efficacy » 11:3703/0403/04/21
Roth Capital analyst…
Roth Capital analyst Zegbeh Jallah raised the firm's price target on Ocugen to $10 from $9 and keeps a Buy rating on the shares after the company's partner Bharat announced interim Phase 3 study results for its traditional Covid vaccine. Covaxin was reported to be safe and well tolerated, with a "competitive" 81% efficacy, Jallah tells investors in a research note. The analyst believes Covaxin's "broad" efficacy coupled with its more convenient storage requirements increases the odds of a U.S.-granted Emergency Use Authorization. Based on the license agreement, Ocugen could receive 45% of U.S. profits, Jallah points out.
Deutsche Bank to hold a virtual summit » 11:0203/0403/04/21
ASC, CMRE, DHT, DSX, EGLE, EURN, FRO, GLOP, GNK, GLNG, INSW, NM, NNA, STNG, SBLK, TRTN, TNP
2021 Shipping Virtual…
2021 Shipping Virtual Summit will be held on March 4. Webcast Link