MNKD stock - Skip this one
While some are satisfied with an index fund, active investors aim to find truly magnificent investments on the stock market. When you buy and hold the right company, the returns can make a huge difference to both you and your family. For example, the MannKind Corporation (NASDAQ:MNKD) share price rocketed moonwards 350% in just one year. Also pleasing for shareholders was the 92% gain in the last three months. The company reported its financial results recently; you can catch up on the latest numbers by reading our company report. It is also impressive that the stock is up 102% over three years, adding to the sense that it is a real winner.
CRMD stock - I plan to purchase $500 dollars
Shares of CorMedix (NASDAQ:CRMD) were crashing 40.4% as of 12:23 p.m. EST on Monday. The steep decline came after the company announced that the Food and Drug Administration isn't approving CorMedix's Defencath, an antibacterial/antifungal catheter lock, for preventing blood infections associated with the use of catheters in hemodialysis.
So what
Many investors were banking on Defencath receiving a thumbs-up from the FDA. The massive sell-off of the biotech stock today isn't a surprise considering the disappointing news.
The FDA's Complete Response Letter (CRL) mentioned concerns at CorMedix's third-party manufacturing facility but didn't provide details. The agency is also requiring that the company conduct a manual extraction study to show that the volume on the label on vials can be consistently withdrawn from the vials.
There were some positives for CorMedix, though. The FDA didn't request any additional clinical data. It didn't point out any safety or efficacy issues with Defencath. Most important of all, the company still has a path to potential approval.
OTRK stock - plan to purchase $500 US dollars
Here’s the deal - OTRK gave guidance for FY21 that was, while still almost 25% above FY20 results, was WAY below consensus guidance.
Why? See the PR that pre-announced their results. They lost their largest client. And while I understand OTRK’s justification (this customer focused on reducing costs, not on medical results achieved), it is still their largest client.
Would I be shocked to see $25 in the next week? No. Would I buy a s***-ton if it does? Yes.
Strong opportunity here to rewind the clock a bit, get on board this fast-growing small company. Losing a big customer at this stage hurts, an outsized impact on the immediate bottom line. However looking at the company growth and revenue trajectory, a company in a great spot to help firms worldwide in the post-Covid health issues environment, the short-term loss of revenue will be quickly swallowed up by new and expanded existing business. This will likely be at least 2x current price (2x30s) in a couple quarters... back to January levels by end of 2021 and 120+ by end of 2022.
Also... this is a prime time post-Cigna/MDLive acquisition... for another major insurer to expand into this AI behavioral healthcare space, AMWL to think about acquiring OTRK to better compete with TDOC/LVGO, or would be a savvy move for TDOC to pre-emptively acquire OTRK itself for an accretive addition to merge with LVGO addition. All good for OTRK long term... a fantastic opportunity today! I'm loading up.
ATNX stock - plan to purchase $500 US dollars
Shares of Athenex Inc. plummeted 54.6% on very active afternoon trading Monday, enough to be the biggest decliner listed on major U.S. exchanges, after the Food and Drug Administration said the biopharmaceutical company's New Drug Application (NDA) for its metastatic breast cancer treatment, oral paclitaxel plus encequidar, is not ready for approval in its present form. Trading volume spiked to 40.1 million shares, compared with the full-day average of about 1.1 million shares. The company said earlier that the FDA issued a complete response letter (CRL) expressing concerns of a safety risk to patients, and recommended a new clinical trial be conducted. Separately, the company reported a fourth-quarter net loss that widened to $49.5 million, or 53 cents a share, from $21.7 million, or 28 cents a share, in the year-ago period, wider than the FactSet consensus for a per-share loss of 44 cents. Revenue fell 36.5% to $21.8 million, topping the FactSet consensus of $20.7 million. The stock has lost 55.1% over the past 12 months, while the iShares Nasdaq Biotechnology ETF has climbed 40.2% and the S&P 500 has advanced 32.4%.
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