April 2019 - Channelchek

Research – Comtech (CMTL) – Analysis of new contract and acquisition

Posted on April 30, 2019May 4, 2022 by Admin

Tuesday, April 30, 2019

Comtech Telecommunications (CMTL)

What Will the New Contract and Acquisition Mean?

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

Awarded New Contract. Comtech
announced yesterday that it has been awarded a five-year contract valued in
excess of $100 million to develop, implement, and operate a Next-Generation 911
emergency communications system for a Northeastern state. We believe the state
to be Massachusetts where General Dynamics had a major contract.
Acquires NG-911 Business. In
conjunction with the award, Comtech also announced the acquisition of the state
and local government NG-911 business from General Dynamics. Coming on the heels
of the Solacom acqui…

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*Analyst
certification and important disclosures included in full report.
NOTE: investment decisions should not be based upon the content of
this research summary. Proper due diligence is required before
making any investment decision.

Research – Scorpio Bulkers (SALT) – First Quarter 2019 Review

Posted on April 30, 2019May 4, 2022 by Admin

Tuesday, April 30, 2019

Scorpio Bulkers Inc. (SALT)

Recovery Under Way – Worst Might Be Passing.

Scorpio Bulkers Inc is a shipping company based in Monaco. It owns and operates a fleet of modern mid to large-size dry bulk carriers which provide marine transportation for major bulks, which include iron ore, coal and grain and minor bulks which include bauxite, fertilizers and steel products internationally.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

1Q2019 Results
slightly ahead of recent revisions. Adjusted EBITDA of $17.3 million was in line with our
estimate of $16.0 million mainly due to higher shipping days, which drove a
$1.9 million revenue variance and more than offset higher opex (-$0.5 million)
and cash G&A expenses (-$0.1 million). Please note that 1Q2019 EBITDA
excludes a non-cash gain of $15.3 million on the Scorpio Tankers (STNG)
investment.
Adjusting estimates to reflect 1Q2019 results, 2Q2019 contract cover, financing activity, timing of scrubber installations and recent dry bulk market weakness.
Our 2019 EBITDA estimate is $89.8 million (from $86.3
million) on TCE rates of $10,819/da…

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Research – Dyadic (DYAI) – Expanding partnership portfolio

Posted on April 30, 2019May 4, 2022 by Admin

Tuesday, April 30, 2019

Dyadic International (DYAI)

Sub-Licensing Agreement Providing Optionality for C1 Technology.

Dyadic International Inc. is a biotechnology company developing a proprietary C1 expression platform to express and manufacture biologic products. The C1 technology is part of a fungi expression system, which utilizes inexpensive substrates yielding a high level of production. Dyadic is currently improving and optimizing the production of biological products in a C1 expression system.

Ahu Demir, Ph.D., Biotechnology Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

Announces significant licensing agreement. Australian based drug development and contract
manufacturing firm, Luina Bio, announced plans to utilize Dyadic’s C1 gene
expression technology platform for the development and commercialization of
biological products to prevent and treat animal diseases. This is the company’s
first sub-licensing agreement, which, we believe, validates the company’s
proprietary C1 technology.
Impressive list of partners. Luina Bio is the first licensing move for the company’s
technology and adds to a list of significant R&D partnerships with
pharmac…

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Research – TherapeuticsMD (TXMD) – Assumption of Coverage

Posted on April 29, 2019May 4, 2022 by Admin

Monday, April 29, 2019

TherapeuticsMD (TXMD)

Can the Early Commercial Success Eradicate the Stock Overhang?

TherapeuticsMD Inc is a major drug manufacturing with a focus on creating and commercializing products targeted exclusively for women. The company intends to commercialize advanced hormone therapy pharmaceutical products.

Ahu Demir, Ph.D., Biotechnology Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

Assumption of Coverage with Outperform Rating and $13 Price
Target. We are assuming coverage of TherapeuticsMD with an Outperform rating and Price Target of $13, based on an NPV analysis of the
pipeline. Three product approvals were granted by the FDA in 2018 providing a
solid foundation for the company to become a significant player in the
women’s health space.
Strong Player in Women’s Health. Three product approvals granted in 2018 include; i) Imvexxy
for patients with vulvovaginal atrophy (VVA), ii) Bijuva (estradiol and
progesterone) to treat vasomot…

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Research – Coeur Mining (CDE) – Updating estimates

Posted on April 26, 2019May 4, 2022 by Admin

Friday, April 26, 2019

Coeur Mining (CDE)

Resetting Expectations: Will Our Estimates Prove To Be Conservative?

Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. The company is involved on the discovery and mining of gold and silver, and generates the vast majority of revenue from the sale of these precious metals. The operating mines of company are palmarejo, rochester, wharf, and kensington.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

Updating estimates. We are lowering our 2019 EPS and EBITDA estimates to
($0.22) and $156.0 million, from $0.11 and $160.4 million, respectively.
We have revised our estimates to reflect significantly higher non-cash
amortization expense and increased our 2019 revenue estimates based on greater
metal sales.
We expect steady improvement. We believe the Coeur’s financial results could improve
throughout the year as Silvertip production continues to ramp up, the Rochester
mine benefits from the installation of high-pressure grinding roll technology
to improve recoveries, and the Kensi…

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Research – Genprex (GNPX) – Initiation of Coverage

Posted on April 26, 2019May 4, 2022 by Admin

Friday, April 26, 2019

Genprex (GNPX)

Poised to Emerge as a Leader in Cancer Gene Therapy.

Genprex Inc is a US-based clinical stage gene therapy company. It is engaged in developing a new approach to treating cancer, based upon its novel proprietary technology platform, including initial product candidate, Oncoprex immunogene therapy.

Cosme Ordoñez, M.D., Ph. D. , Life Sciences Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

Coverage
Initiation. We are initiating coverage of Genprex, Inc. with an
Outperform Rating and a $5.00 target price.
Unique Gene
Therapy Technology. We believe that Genprex will emerge as a leader in the area
of gene therapy for the treatment of cancer. The Company is developing a unique
platform technology consisting on the use of lipid nano…

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News – Tax Cuts and Jobs Act: Are we better off?

Posted on April 26, 2019May 4, 2022 by Admin

Did the Tax Cuts and Jobs Act Reduce People’s Federal Taxes?

(Note: companies that could be impacted by the content of
this article are listed at the base of the story (desktop version). This
article uses third-party references to provide a bullish, bearish and balanced
point of view; sources listed in the “Balanced” section)

The stories are commonplace in the news and on social media: the taxpayer who either received less of a refund in 2019 compared to what they received in 2018 or, even worse, went from receiving a refund in 2018 to having to write a check for taxes owed in 2019. The Tax Cuts and Jobs Act (TCJA) was the most sweeping update to the U.S. tax code in more than 30 years. For individuals, the TCJA reduced federal income tax rates, increased the standard deduction, doubled the child care tax credit, repealed the personal and dependent exemptions, and capped the deductions for state and local taxes, among many other reforms. But, according to SurveyMonkey, only 40% of Americans believed they saw savings, and only 20% were sure they had. An NBC/Wall Street Journal poll in March found just 17% of Americans believing they would pay less in taxes.

News – Blockchain for Business: Worth the Hype?

Posted on April 25, 2019May 4, 2022 by Admin

How are businesses using blockchain?

Businesses are finding that blockchain, the technology behind Bitcoin and other cryptocurrencies, has far wider and more useful applications than creating speculative digital currency markets. Blockchain is essentially a record-keeping system, however, it is unique in that it uses a distributed ledger system making it more tamper-proof than other databases and free from centralized control. While the early iterations of this technology have been overshadowed by cryptocurrency, businesses are now seeing blockchain’s true potential as a tool to solve complex problems and streamline complex processes. Could blockchain lead the next technological revolution or is it all just hot air?

Research – KeyW (KEYW) – Announces Definitive Merger Agreement

Posted on April 23, 2019 by Admin

Tuesday, April 23, 2019

KeyW Holding Corporation (KEYW)

Could It Go Higher?

KEYW Holding is a provider of mission-critical cybersecurity, cybersuperiority, and geospatial intelligence solutions to U.S. government defense, intelligence, and national security agencies. Its solution includes collection, processing, analysis, and dissemination of intelligence information in cyberspace and geospace domains.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

Announces Acquisition. KeyW yesterday morning announced it has singed a
definitive merger agreement to be acquired by Jacobs Engineering (NYSE:JEC:Not
Rated) for $11.25 per share in cash. The transaction has an enterprise value of
$815 million, net of tax assets.
Significant Premium. The
$11.25 represents a 43% premium to KeyW’s closing stock price on April 18th and
is above our 12-month price target of $10.50 per share. The merger
consideration represents a 16.7x multiple on our 2019 adjusted EBITDA estimate
and 15.2x our 2020 adjusted EBI…

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Research – Aurania Resources (ARU:CA) – Appoints new CFO

Posted on April 23, 2019May 4, 2022 by Admin

Tuesday, April 23, 2019

Aurania Resources Ltd. (ARU:CA)

Will A New Chief Financial Officer and Loan Commitment Increase Momentum?

Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

Aurania appoints new Chief Financial Officer. Aurania appointed
Mr. Tony Wood as Chief Financial Officer. Mr. Wood has completed ~$1
billion in financing and M&A transactions in the mining industry. Mr.
Wood has been consulting for the company on a part-time basis since January
2019. Mr. Wood earned a B.Sc. degree from the University of Lancaster,
United Kingdom (U.K), and is a qualified Chartered Accountant in the U.K. and
Canada. We believe Mr. Wood’s experience will enhance the company’s
strategic development and fundraising capabilities.
New loan commitment enhances financial flexibility. Aurania also announced a
loan agreement with Dr. Keith Barron, Aurania’s Chairman and CEO, providing up
to US$3,000,000 in financing. In our view, the new loan commitment
provides financial flexibility to expand and/or accelerate the comp…

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News – Uranium Imports: Trade War Goes Nuclear

Posted on April 22, 2019 by Admin

Should the U.S. Uranium Industry Be Rescued?

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

On April 14, 2019, the U.S. Department of Commerce (DOC) submitted a report to the White House on their investigation into the impacts of uranium imports on U.S. national security. The President has up to 90 days from April 14 to act on the DOC’s recommendations. While the report remains confidential, supporters and foes of trade sanctions that could protect the U.S. uranium industry from imports of uranium await the outcome. Should trade actions be taken to protect the U.S. uranium industry from imports?

FEATURE: Uranium | Top Marginal Tax | Boeing | Podcast

Posted on April 22, 2019 by Admin

Avino Silver & Gold Mines Ltd. (ASM) Bralorne Exploration Provides Some Reasons for Optimism. More

Sierra Metals (SMTS) How Does The Worker Strike Affect 2019 Production Expectations? More

Vectrus Inc. (VEC) What’s Next Following A Big Win? More

Should the U.S. Uranium Industry Be Rescued? Are Uranium
Trade Sanctions Justified? On April 14, 2019, the U.S. Department of Commerce
(DOC) submitted a report to the White House on their investigation into the
impacts of uranium imports on U.S. national security. More

Take from the rich and give to the politicians. Does A 70% top
marginal tax rate make sense? In an interview on 60 Minutes, Congresswoman
Alexandria Ocasio-Cortez asserted that it’s worth considering to help pay for
new federal programs like the “Green New Deal.” More

IPO Podcast Episode 2: Drug Disruption. Brant Pinvidic (host of the iTunes top-trending Hollywood podcast “Why I’m Not…”) probes into the positive aspects of being “disruptive” in healthcare. Changing what is viewed as the norm – disrupting the status quo -can result in very positive change… Like Uber and Airbnb. Here Brant looks for disruption in healthcare; ways to reduce the costs associated with prescription drugs. He interviews the CEO of Dyadic International who believes his company has the answer. You be the judge. More

Comtech Announces Claro Argentina Selected Heights™
Networking Platform for Mobile Backhaul Infrastructure. More

DLH to Announce Second Quarter FY19 Financial Results. More

KeyW’s stock soars after Jacobs Engineering buyout deal at
43% premium. More

Aurania Announces the Appointment of Tony Wood as CFO &
Enters into a $3 Million Loan Agreement with Chairman and CEO. More

Gannett Sets the Record Straight Regarding MNG’s False and
Misleading Statements. More

News – Does A 70% Top Marginal Tax Rate Make Sense?

Posted on April 18, 2019 by Admin

70% Rate: The Taxwoman Cometh

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section)

In an interview on 60
Minutes, Congresswoman Alexandria Ocasio-Cortez asserted that it’s worth considering a 70% top marginal tax rate on incomes over $10 million to help pay for new federal programs like the “Green New Deal.” According to Representative Ocasio-Cortez, “People are going to have to start paying their fair share in taxes. As you climb this income ladder, you should be contributing more.” As one would expect, her controversial comments immediately ignited a firestorm of a debate.