The biotech industry has experienced robust growth over the past year as demand for treatments and vaccines to combat COVID-19 soars. Now that the global vaccination campaign is in full swing, biotech companies are working on their research and development projects to promote new therapies to cure or moderate other critical illnesses. Investor optimism in the biotech industry is evident in the VanEck Vectors Biotech ETFs (bbh) Return of 16.8% in the last six months.
Furthermore, given the aging population in the United States and other western countries, and with it an implicit need for more healthcare solutions in the future, the biotechnology industry is poised for robust growth in the coming years. Indeed, the global biotechnology market is expected togrow at a CAGR of 15.5% over the next seven yearsreach 850.5 billion dollars by 2027.
Wall Street analysts believe the fledgling biotech stock Bionano Genomics, Inc. (BNGO), Cerus Corporation (CERS), Agenus Inc. (AGENT) from VBI Vaccines Inc. (VBIV) have the potential to recover by more than 60% over the next 12 months.
Click here to view our 2021 Healthcare Industry Report
Bionano Genomics, Inc. (BNGO)
The BNGO operates as a life science instrumentation company in the genome analysis space. Its products include Saphyr, Bionano Chips, Bionano Prep Kits, and Bionano Data Solutions, which are sold for research applications primarily to laboratories associated with academic and government research institutions, as well as pharmaceutical, biotechnology, and contract research companies throughout the world. or world.
Last month, BNGO announced the publication of its successful Saphyr-based method for analyzing DNA replication in human genomes with a higher level of coverage. The company hopes that this publication can help support new levels of cancer research and drug discovery in the future and exemplify the importance of optical genome mapping. And this month, the US Patent and Trademark Office issued a patent to BNGO entitled "Methods and Devices for Single Molecule Whole Genome Analysis," which provides additional protection for BNGO's methods of characterizing single DNA molecules and strengthens its global patent portfolio.
For the first quarter of fiscal 2021, ended March 31, the company's total revenue increased 178.9% year-over-year to $3.17 million. Revenue from the produce segment increased 108.4% year-over-year to $2.05 million. The increase in product sales was driven by increased demand for BNGO's reagent and consumable rental program. The company's gross profit was $1.04 million for the quarter, representing a gain of 272.5% over the prior year period. As of March 31, BNGO hadCash and cash equivalentsof US$ 362 million. Its cash increase is due to a stock offering that was completed in January.
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The analyst consensus revenue estimate of $3.55 million for the current quarter represents a 200.7% year-over-year increase. BNGO shares appreciated 1,357.5% last year and 976.6% in the last six months. BNGO closed the trading session yesterday at $5.62.
All three Wall Street analysts who analyzed the stock rated it a "Buy." They expect the stock to hit $12 in the near term, which indicatesan upside potential of 113.5%.
Cerus Corporation (CERS)
CERS is a biomedical products company dedicated to the research and development of systems designed to improve the safety of blood transfusions. The company's platform technologies prevent viral, bacterial and cellular replication.
On May 17, CERS announced its contract with Canadian Blood Services for its INTERCEPT platelet blood system. The contact marks CERS' first entry into the Canadian markets.
CERS and Shandong Zhongbaokang Medical Implements Co. Ltd. (ZBK) formed a joint venture in February to develop, gain regulatory approval, manufacture and market the INTERCEPT blood system for platelets and red blood cells in China. The company hopes that ZBK's experience with local clinical and regulatory requirements, ISO-certified manufacturing infrastructure and existing sales channels will facilitate rapid and broad access to INTERCEPT throughout the Chinese transfusion medicine community.
Total ESRB revenue was $29.60 million for the first quarter of fiscal 2021, ended March 31, representing a 20.3% year-over-year improvement. Production segment revenue increased 25.6% year-over-year to $23.38 million. Revenue growth for its products benefited from increased demand for INTERCEPT platelet products in the US, led by their adoption by the nation's top five blood center chains. CERS' gross profit was US$12.28 million, 19.4% above the prior-year period. As of March 31, CERS had cash and cash equivalents of 57.61 million.
A consensus revenue estimate of $31.48 million for the current quarter ended June 30 represents an increase of 17.3% year-over-year. Shares are up 6.4% from a year ago to close yesterday's session at $5.86.
Wall Street analysts expect the stock to hit $9.50 in the short term, indicating aUpside potential of 62.1%.
Agenus Inc. (AGENT)
AGEN is a clinical-stage immuno-oncology company that develops and commercializes technologies for the treatment of cancer and infectious diseases. The company's discovery pipeline includes a variety of checkpoint modulator (CPM) antibodies.
On May 18, AGEN and the Bristol-Myers Squibb Company (BMY) has agreed that BMY will receive an exclusive global license to AGEN's proprietary bispecific antibody program, AGEN1777. As BMY will be solely responsible for the commercialization of AGEN1777 and other products, AGEN will receive an initial payment of US$200 million and US$1.36 billion in development, regulatory and commercial frameworks, as well as increasing double-digit royalties on sales. products liquid
As of March 31, the company had cash and cash equivalents of $119.37 million. Its cash used from operations for the first quarter of fiscal 2021 ended March 31, 2020 was $42.74 million, compared to $35 million for the first quarter ended March 31, 2020.
For the upcoming quarter ending Sept. 30, analysts expect AGEN revenue to be $15.93 million, up 13.8% from the year-ago period. The stock has gained 67.2% over the past year and 56.3% over the past month, closing yesterday's session at $4.18. It has gained 71.3% since hitting a 52-week low of $2.44.
Wall Street analysts expect the stock to hit $7.50 in the short term, indicating a79.4% growth potential. Furthermore, all three Wall Street analysts covering the stock rated it a "Buy."
VBI Vaccines Inc. (VBIV)
VBIV is a biopharmaceutical company that develops and markets vaccines for the treatment of infectious and immuno-oncological diseases. The company develops vaccine platforms and products for licensing to pharmaceutical and biotechnology companies. It mainly serves physicians and pharmacists through direct sales.
VBIV and the Coalition for Epidemic Preparedness Innovations (CEPI) partnered in March to develop VBIV enveloped virus-like particle (eVLP) vaccine candidates against variants of SARS-CoV-2. CEPI will provide up to $33 million to support the advancement of VBI-2905 through Phase 1 clinical development. This funding will also support preclinical expansion of additional candidate multivalent vaccines designed to test the potential breadth of VBIV eVLP technology.
VBIV's revenue for the first quarter of fiscal 2021, ended March 31, was $301,000, an increase of 50.5% from the fourth quarter of 2020. Its cash used in operating activities decreased by 13.2 % year over year to $6.60 million. This reduction was due to a change in operating working capital and, in particular, the cash received in advance from the CEPI financing agreement. The company had cash and cash equivalents of $108.23 million as of March 31, 2021.
Analysts expect VBIV revenue to be $472,000 for the current quarter ended June 30, 2021, representing a year-over-year increase of 156.5%. The VBIV has gained 28.5% over the past year and 22.6% over the past month. The VBIV ended yesterday's trading session at $3.20.
All five Wall Street analysts who rated the stock rated it a "Buy." Furthermore, analysts expect the stock to hit $6.60 in the short term, indicating aUpside potential of 106.3%.
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BNGO shares were trading at $5.61 a share on Friday afternoon, down $0.01 (-0.18%). So far this year, BNGO has gained 82.14%, versus an 11.62% rise for the benchmark S&P 500 index over the same period.
About the Author: Sweta Vijayan
Sweta is an investment analyst and journalist with a special interest in finding market inefficiencies. He is passionate about educating investors so they can succeed in the stock market.Advance...
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