FEATURE: NobleCon 16 | Tanker Attack | Research | Podcast

Tanker Attacked in the Persian Gulf; Here’s why this time is
different.
The incident is one in a long history of sabotage activity in the area and threats to shut down the shipping channel. Previous incidents eventually faded into memory with oil prices returning to pre-existing levels. This time may be different. More

What does CAR-T therapy consist of, what is it and could it
be viewed as a “living anti-cancer drug”?
The medicine itself consists of a living cell, which is genetically engineered to find and destroy cancer cells. Chimeric Antigen Receptor T cell therapy (CAR-T) is a gene therapy designed to… More

Noble Capital Markets’ sixteenth annual investor conference – Noble Capital Markets’ plans are set for its sixteenth annual NobleCon investor conference to be held at the New Hard Rock, South Florida, February 2020. More

Great Lakes Dredge & Dock (GLDD) Two New Awards Bolster Confidence in 2019 Outlook. 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

Research – Endeavour Silver (EXK) – Signs of an Improving Outlook?

Wednesday, June 19, 2019

Endeavour Silver Corporation (EXK)

Signs of an Improving Outlook?

Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation.

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

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

  • Final Terronera project permit received. Endeavour Silver announced receipt of the final tailings permit from the Mexican Ministry of Environment that is required to advance the company’s Terronera silver and gold mine project.
  • A few more boxes need to be checked.  With the Terronera mine project now fully permitted, Endeavour plans to complete a final preliminary feasibility study (PFS) in the third quarter… 


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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 – TherapeuticsMD (TXMD) – What Investors are Missing

Wednesday, June 19, 2019

TherapeuticsMD (TXMD)

What Investors are Missing

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.

  • The stock slides. TXMD shares are down 15% since the company held its analyst day on June 10, 2019. We believe that the shares overreacted to management’s weak revenue outlook which anticipates 87% revenue growth for the full year 2019 (21% below consensus revenue expectations). We estimate that revenues will show an accelerated growth in subsequent years, up 180% in 2020, up 346% in 2021 and up 108% in 2022.
  • The bigger picture. We believe that there are encouraging revenue attributes; 1) the company’s product, Imvexxy, had solid upward Q1 revenue trajectory, surpassing…


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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 – Upgrading the Shares – High Risk but High Upside Potential

Monday, June 17, 2019

Seanergy Maritime Holding Corp. (SHIP)

Upgrading the Shares – High Risk but High Upside Potential

Seanergy Maritime Holdings Corp., an international shipping company, provides marine dry bulk transportation services through the ownership and operation of dry bulk vessels. The company owns a modern fleet of 11 dry bulk carriers consisting of 9 Capesizes and 2 Supramaxes with a combined cargo-carrying capacity of approximately 1,682,582 dwt and an average fleet age of 8.1 years. The company was formerly known as Seanergy Maritime Corp. and changed its name to Seanergy Maritime Holdings Corp. in January 2009. 

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

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

  • Weaker Than Expected 1Q2019 Results. Reported adjusted 1Q2019 EBITDA of $0.4 million was below our estimate of $1.0 million and well below 4Q2018 EBITDA of $6.3 million, mainly due to lower time equivalent (TCE) rates..
  • Adjusting 2019 EBITDA estimate to reflect lower rates. Market improvement expected later this year. To incorporate weak 1Q2019 operating results and the current cape market environment, our EBITDA estimate moves down…





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*Analyst
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NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.
 

News – What will the Persian Gulf attack mean for oil prices?

Tanker Attacked in the Persian Gulf; Here’s why this time is different.

(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)

Oil
prices jumped as much as 4% on June 13
th following attacks on two Japanese
tankers near the Strait of Hormuz in the Persian Gulf.  The attacks occurred shortly after Shinzo Abe, the Japanese Prime Minister, had met with Iranian officials. While the source of the attack was not known, the timing and objects of the attacks seems to point toward Iran or Iranian rebels in Yemen as the likely source. The incident is one in a long history of sabotage activity in the area and threats to shut down the shipping channel. Previous incidents eventually faded into memory with oil prices returning to pre-existing levels. This time may be different.

News — What Will the Persian Gulf Attack Mean for Oil Prices?

Here’s why this time is different.

(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)

Oil
prices jumped as much as 4% on June 13 following attacks on two tankers near
the Strait of Hormuz in the Persian Gulf. 
The source of the attack was not known. 
However, the timing and objects of the attacks (Japanese ships of
interest attacked shortly after Prime Minister Shinzo Abe had met with Iran
officials) seems to point to Iran or Iranian rebels in Yemen as the likely
source.  The incident is one in a long
history of sabotage activity in the area and threats to shut down the shipping
channel.  Previous incidents eventually
faded into memory with oil prices returning to pre-existing levels.  This time may be different.

Research – Aurania Resources – Lessons from Crunchy Hill

Friday, June 14, 2019

Aurania Resources Ltd. (ARU:CA)

Lessons Learned from Crunchy Hill

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.

RATING: OUTPERFORM

  • Crunchy Hill reveals evidence of an epithermal system.  Based on final assay results and analysis, scout drilling at Crunchy Hill confirmed the presence of an epithermal system and intersected two zones that could contain gold at depth.  The scout drilling program provided information on where Aurania may conduct later follow-up drilling to intersect the center of the system where gold zones may be present at a greater depth than initially expected.
  • Scout drilling to commence at Yawi.  Based on lessons learned from Crunchy Hill, where the core of the system is deeper than expected, management may conduct a focused geophysical program at Yawi prior to drilling.  Three targets in…



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NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.
 

Noble Capital Markets’ sixteenth annual investor conference

Noble Capital Markets’ plans are set for its sixteenth
annual NobleCon investor conference to be held at the
New Hard Rock, South Florida, February 2020

June 14, 2019 – Fort Lauderdale, Florida – Noble Capital Markets (Noble) announced today that its sixteenth annual investor conference (NobleCon16) featuring emerging growth public companies will be held at the Seminole Hard Rock Hotel & Casino (Hard Rock) in Hollywood, Florida, February 16-18, 2020.

The multi-sector NobleCon has become the preeminent showcase of emerging growth companies that attracts a broad cross-section of investors including institutions, family offices, Registered Investment Advisor representatives, self-directed investors, independent brokers and high-net-worth individuals. NobleCon utilizes four tracks for companies to present to investors – running simultaneously in half-hour intervals – with total representation strictly limited to 125 public companies. Qualified attending investors will be offered one-on-one opportunities in addition to the formal presentations made by the c-suite executive teams. Significant keynote addresses, provocative panel presentations led by key opinion leaders, and large-scale networking events round out the schedule. Attendance will be limited to 1,000.



The first NobleCon, close to fifteen years ago, was held at this Hard Rock. Both NobleCon and Hard Rock Hollywood have more than tripled in size over that time frame. “We were one of the first conferences to be held at the then brand new Hard Rock and this will again be true in 2020,” said Mark Pinvidic, Managing Partner at Noble. The $1.5-billion, 3.2 million-sq-ft expansion, scheduled to be completed this October, will increase the room-count from 469 to 1267, including 638 rooms (each over 500-sq-ft) in first-in-the-world, guitar-shaped tower, a new 6,500-seat Hard Rock Live, 36 new restaurants bars and lounges, expanded casino floor, resort pools covering close to 20 acres and the expansion of conference facilities by five times from what was available for NobleCon1. “Hard Rock was a fantastic host for a total of six NobleCons – one of which was opened with a keynote address by Hard Rock International CEO, Jim Allen – but we simply outgrew it. We’re excited for the 2020 reunion in this remarkable location,” said Pinvidic. The 40,000-sq-ft allocated to NobleCon will include four, 2,000-sq-ft presentation rooms featuring 8’X12’ UHD laser projection screens, over 9,000-sq-ft dedicated to one-on-one meetings, and 17,000-sq-ft for keynote addresses, receptions and networking, sponsors, and the serving of breakfasts and lunches. Hard Rock has several acres of free parking and is located about 12 minutes west of Fort Lauderdale / Hollywood International Airport.

All presenting companies featured on Channelchek

Companies invited to attend and present at NobleCon16 are selected from the over 6,000 emerging growth public companies on Channelchek. All NobleCon updates and opportunities for presenting companies, sponsors and investors to register for the conference are available on Channelchek.

NOBLE Capital Markets, Inc. (Noble) hosts NobleCon as an informational service and networking opportunity for public companies and investors. Noble does not prepare, review or edit the presentations and other information provided by each company, and does not take any responsibility for the accuracy or adequacy of any such information as the basis for any investment decision. Noble is not providing any person with any investment advice through their participation in or attendance of the Conference, nor is Noble soliciting any offers to buy or sell any security of any company.

CLICK HERE TO GET EVERYTHING YOU NEED TO KNOW ABOUT NOBLECON16!

 

Research – Cumulus Media (CMLS) – Debt Recovery Should Help Stock

Thursday, June 13, 2019

Cumulus Media (CMLS)

Fixing Its Debt Should Help the Stock

CUMULUS MEDIA, Inc. (NASDAQ: CMLS) is a leading audio-first media and entertainment company delivering premium content to over a quarter billion people every month  wherever and whenever they want it. CUMULUS MEDIA engages listeners with high-quality local programming through 428 owned-and-operated stations across 87 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYS, the American Country Music Awards, and many other world-class partners across nearly 8,000 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with local impact and national reach through on-air, digital, mobile, and voice-activated media solutions, as well as access to integrated digital marketing services, powerful influencers, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.


 

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

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

  • Favorable debt refi. The company announced that it upsized its Notes offering and received a more favorable interest rate than originally expected. The company increased the Notes offering from $300 million to $500 million.
  • Attractive fixed rate, long maturity. The interest rate on the Notes is fixed at 6.75%, a decrease from the current floating rate of roughly… 


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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 – DLH Holdings Corp. (DLHC) – Potential Transformative Factors

Thursday, June 13, 2019

DLH Holdings Corp. (DLHC)

How Transformative Will Social and Scientific Systems Be?

DLH Holdings Corp is a provider of technology-enabled business process outsourcing and program management solutions in the United States. The company offer services to several government agencies which include the Department of veteran affairs, Department of health and human services, Department of defense and other government agencies.    

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

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

  • Acquisition. On Monday, DLH announced the acquisition of Social & Scientific Systems (SSS) for $70 million. Privately-held SSS is a nationally recognized technology-enabled health research organization that collects, manages, and analyzes large-scale health data in support of critical public initiatives.
  • Transformative.. SSS will immediately provide diversification for DLH, both on a revenue and end customer basis, and will broaden and deepen DLH’s… 


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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 – KeyW Holding (KEYW) – Jacobs Tender Offer Completed

Thursday, June 13, 2019

KeyW Holding Corporation (KEYW)

Does First Quarter Miss Matter?

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.

  • Tender Offer Complete. On Wednesday, Jacobs announced that it had completed the previously announced tender offer for the outstanding shares of KeyW at a price of $11.25 per share. An aggregate of 39,928,947 KeyW shares, representing approximately 80% of the outstanding, were tendered.
  • Short-Form Merger. Following the tender, Jacobs owns a sufficient number of KeyW shares to complete a…



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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 – Townsquare Media (TSQ) – Why is the stock below its peers?

Tuesday, June 11, 2019

Townsquare Media (TSQ)

Why is the stock below its peers?

Townsquare Media Inc is an entertainment and media company offering digital marketing solutions in the United States and Canada. It owns and operates radio stations, social media properties focusing the small and mid-cap companies. Services offered to the clients include live events, local advertising, digital advertising, e-commerce offerings, few others. 

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

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

  • Meeting Highlights. This report provides notes from a non-deal road show in the Midwest with Bill Wilson, CEO, Stuart Rosenstein, CFO, and Erik Hellum, COO of Local Media. Meeting highlights include 1) favorable current fundamentals and above average growth outlook, 2) its shift toward a digital media company, and 3) a large disparity of its stock valuation relative to its peers.  
  • Leading the industry. The company’s Digital Media businesses account for roughly 35% of total company revenues and is well on its way to be 50% of its… 


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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 – electroCore (ECOR) – ECOR Braves Choppy Waters

Tuesday, June 11, 2019

electroCore (ECOR)

Choppy Waters for electroCore

electrocore Inc is a commercial-stage bioelectronic medicine company with a platform for non-invasive vagus nerve stimulation therapy initially focused on neurology and rheumatology. Its product gammaCore is FDA-cleared for the acute treatment of pain associated with migraine and episodic cluster headache in adults.

 

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

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

  • CEO Frank Amato Departs. Yesterday, electroCore announced another departure from the leadership team since the annual shareholder meeting held on June 7, 2019. Frank R. Amato is leaving the company after serving as a Chief Executive Officer since 2016. He will continue to serve as the CEO and board member until a new CEO is recruited. This position is expected to be filled before September 30, 2019.
  • Restructuring Continues.We expect the company to pursue additional steps to reshape the leadership team following two departures within the past week. Besides Frank’s departure… 


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NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
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