Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Arcutis Biotherapeutics  / Equity Bottom-Up

<ul><li>Arcutis Biotherapeutics' latest financial results show a mix of strategic execution and market opportunity, underpinned by the performance of its ZORYVE portfolio.</li><li>The company's Q3 2024 results highlighted substantial sales growth, reflecting a year-over-year increase of 452% and a sequential quarterly rise of 45%, bringing net product revenue to $44.8 million.</li><li>This growth is underpinned by the expansion of ZORYVE's indications, now covering psoriasis, seborrheic dermatitis, and atopic dermatitis.</li></ul>

Arcutis Biotherapeutics' latest financial results show a mix of strategic execution and market opportunity, underpinned by the performance of its ZORYVE portfolio.The company's Q3 2024 results highlighted substantial sales growth, reflecting a year-over-year increase of 452% and a sequential quarterly rise of 45%, bringing net product revenue to $44.8 million.This growth is underpinned by the expansion of ZORYVE's indications, now covering psoriasis, seborrheic dermatitis, and atopic dermatitis.

Arcutis Biotherapeutics Attracting Takeover Speculation Amid Explosive Growth: What Is It Worth?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Rex American Resources / Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish outlook as long as market dynamics remain healthy and the SPX is above 6028-6059. Short-term supports on SPX include 6400-6410, 6200, 6100-6150, and 6028-6059.</li>
<li>SPX is testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226, respectively. This makes us believe we could see some near-term downside; buy pullbacks.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish outlook as long as market dynamics remain healthy and the SPX is above 6028-6059. Short-term supports on SPX include 6400-6410, 6200, 6100-6150, and 6028-6059.
SPX is testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226, respectively. This makes us believe we could see some near-term downside; buy pullbacks.


Staying Bullish Despite Near-Term Pullback Potential; Buy Pullbacks

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.</li><li>Morphic Holding, Inc. (MORF) agreed to be acquired by Eli Lilly and Co. (LLY) for $3.2 billion or $57/share in cash, with value primarily driven by lead drug MORF-057, an oral α4β7 integrin inhibitor, in Phase 2s for inflammatory bowel disease (IBD). MORF-057 looks to compete against injectable biologics in the large UC and Crohn’s markets, aiming for similar efficacy, better safety, and oral convenience.</li><li>Morphic’s novel drug shares the same target as Takeda’s Entyvio, a successful anti-α4β7 antibody. MORF was up 75% last Monday.</li></ul>

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&amp;A.Morphic Holding, Inc. (MORF) agreed to be acquired by Eli Lilly and Co. (LLY) for $3.2 billion or $57/share in cash, with value primarily driven by lead drug MORF-057, an oral α4β7 integrin inhibitor, in Phase 2s for inflammatory bowel disease (IBD). MORF-057 looks to compete against injectable biologics in the large UC and Crohn’s markets, aiming for similar efficacy, better safety, and oral convenience.Morphic’s novel drug shares the same target as Takeda’s Entyvio, a successful anti-α4β7 antibody. MORF was up 75% last Monday.

United States

Arcutis Biotherapeutics, Inc. operates as a biopharmaceutical company. The Company focuses on developing treatments for unmet needs in immune-mediated diseases and conditions. Arcutis Biotherapeutics serves medical sector in the United States.

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Arcutis Biotherapeutics (ARQT US)

Arcutis Biotherapeutics Attracting Takeover Speculation Amid Explosive Growth: What Is It Worth?

Arcutis Biotherapeutics' latest financial results show a mix of strategic execution and market opportunity, underpinned by the performance of its...

Baptista Research

Staying Bullish Despite Near-Term Pullback Potential; Buy Pullbacks

Buying a pullback; SPX testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226. This makes us believe we could...

Vermilion Research

Biopharma Week in Review - July 15, 2024

We review last week’s biopharma news for meaningful clinical data, regulatory updates, research innovation, and M&A.

Water Tower Research

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