Markets have posted positive but muted momentum so far, recovering from their doldrums of the last three days. Slow but broad-based gains on a slow news day suggest that investors were buying back into stocks seen as bargains after the recent pullback. Tech stocks, in particular, are reclaiming much of their lost value from the past several sessions. Investors anxiously await equity markets’ reaction to the latest Fed interest rate policy, set to be announced tomorrow.
Pharma news has dominated NewsQuantified Top Performers this week: investors are eager to rotate into stocks where emerging technology can offer rare value in a market that’s “priced for growth.”
In our earlier Top Pharma plays this week, patent announcements drove the action.
This time, NQ users are profiting from a slightly different angle: analyst disagreement on the prospects for a new treatment technology. Good news analytics can drive profits from multiple plays on the same fundamental trend.
Galectin Therapeutics has been on a roller-coaster ride over the last few months. After announcing that a major clinical trial has failed to achieve its primary treatment goals in early November, the stock’s price slipped substantially. It remains far below its all-time highs near $15, set in 2014.
This morning, we alerted NQ members that H. C. Wainwright, a prominent investment firm, was raising its price target on GALT from $3 to $10. Their analyst team argues that investors have misread results from Novembers’ clinical trial announcement. While the treatment failed to meet its top line goals, they suggested that it demonstrated unprecedented potential efficacy in an area with few effective treatments.
The analyst's team from STAT, meanwhile, disagreed, calling Wainwright’s analysis “embarrassing.”
Investors have seemed to agree with Wainright, piling into the stock to the tune of gains closing in on 50% at the time of this writing. Whether this movement represents genuine value in GALT or wishful thinking in a potentially overheated market, NQ users profited either way.
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