The Analysts Are Buzzing About These 3 Stocks
The quiet period on three of the hottest IPOs of the spring has just come to an end and the analysts are already speaking up. Based on the chatter, these stocks should do well over the summer and this year. Based on the business models, fundamentals, and the outlook for earnings these stocks should do very well over the long term.
Day One Biopharmaceuticals Is Bottoming
Day One Biopharmaceuticals (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on childhood cancers. The stock popped in the wake of the IPO but has since pulled back to what we believe it's becoming a very firm support level. The company's lead drug candidate is called Day101, it was designed to be a highly selective fibrosarcoma kinase inhibitor to fight brain and spine cancers. The company is planning to launch a phase II trial fairly soon targeting the most common form of brain tumors found in young people.
So far, 4 sell-siders have come out with positive commentary on Day One Biopharmaceuticals. All four rated the company a Strong Buy with a price target of $21. Looking at the chart, the stock appears to be bottoming and is on track to soon exceed the $21 level. If we get a move above $21, we expect to see the analysts begin upping their price targets and for the stock to move towards the $26 level.
Fintech Flywire Poised To Set New Highs
Shares of Flywire (NASDAQ: FLYW) had a strong day on the IPO but have pulled back in the time since. Now, with the stock already rebounding on positive news, the analysts are accelerating the move. Price action appears to have put in a V-bottom and is on track to retest the post-IPO high very soon. A move above $35 would be very bullish and could leave this doc up to the 45 to $55 range.
As for the good news? Flywire is expanding the comprehensive solutions that it offers to Canadian institutions. The company is an electronic payment processor focused on educational, healthcare travel, and business-to-business payments, a fintech segment that Flywire estimated to be worth $11.7 trillion annually. So far there have been 10 sell-siders to come out with positive comments on the stock. The consensus rating is a Buy verging on Strong Buy with a consensus price target in the range of $39 to $45.
Figs Grows To New Highs On Analyst Sentiment
Figs (NYSE: FIGS) is an interesting company in that it manufactures and markets apparel to the healthcare industry via e-commerce. In today's market, we like apparel, anything work-related, health care, and e-commerce so there's a lot to like about this company. The stock has received 10 analysts nods in the wake of the quiet period with a consensus that amounts to a Strong Buy. The range of analysts’ price targets runs from $28 to $50 but the concentration is in the $40 to $50 range. The stock has performed strongly post-IPO and it looks ready to set a new all-time high today. A move above $38 would be very bullish and could take the stock up to the $40 to $42 range.
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