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

Ultragenyx Pharmaceutical / Equity Bottom-Up

<ul><li>Ultragenyx Pharmaceutical suddenly has a new story for Wall Street.</li><li>Shares closed 13% higher at $14.50 after the FDA approved Fayuvi, a one-time gene therapy for pediatric patients with Sanfilippo syndrome Type A, a rare inherited disorder that progressively damages the brain and nervous system.</li><li>The approval is notable because families previously had no FDA-approved treatment designed to address the underlying cause of the disease.</li></ul>

Ultragenyx Pharmaceutical suddenly has a new story for Wall Street.Shares closed 13% higher at $14.50 after the FDA approved Fayuvi, a one-time gene therapy for pediatric patients with Sanfilippo syndrome Type A, a rare inherited disorder that progressively damages the brain and nervous system.The approval is notable because families previously had no FDA-approved treatment designed to address the underlying cause of the disease.

Ultragenyx Stock Explodes After Historic FDA Win!

<ul><li>Ultragenyx Pharmaceutical shares plunged 42% in a single session after a major setback in its brittle-bone disease program.</li><li>The company reported that setrusumab, its experimental treatment for osteogenesis imperfecta, failed to meet primary endpoints in two Phase 3 studies—Orbit and Cosmic.</li><li>The disappointment came despite previously observed gains in bone mineral density among treated patients.</li></ul>

Ultragenyx Pharmaceutical shares plunged 42% in a single session after a major setback in its brittle-bone disease program.The company reported that setrusumab, its experimental treatment for osteogenesis imperfecta, failed to meet primary endpoints in two Phase 3 studies—Orbit and Cosmic.The disappointment came despite previously observed gains in bone mineral density among treated patients.

Ultragenyx Loses 42% In A Day: What Really Went Wrong In The Setrusumab Trials!

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

<p>Despite the bulls still being in control, we have several ongoing concerns and we cannot rule out the potential for a pullback. Below we highlight developments that are inconsistent with a major bottom in equities that suggests the broad equity market is not yet out of the woods.  In fact, during today's action, the 2760 support level on the S&amp;P 500 briefly held but ultimately gave way. With the SPX holding below 2760 today, we are looking for downside targets of 2650 first, and then potentially 2470 if that fails to hold.</p>

Despite the bulls still being in control, we have several ongoing concerns and we cannot rule out the potential for a pullback. Below we highlight developments that are inconsistent with a major bottom in equities that suggests the broad equity market is not yet out of the woods.  In fact, during today's action, the 2760 support level on the S&amp;P 500 briefly held but ultimately gave way. With the SPX holding below 2760 today, we are looking for downside targets of 2650 first, and then potentially 2470 if that fails to hold.

U.S. Equity Strategy: Several Indicators Suggest a Pullback Likely

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>Forecasted inclusions include <a href="https://www.smartkarma.com/entities/coreweave-inc" target="_blank" data-smartkarma-citation="entities:44471:1" rel="noopener">CRWV</a> &amp; <a href="https://www.smartkarma.com/entities/figma-inc" target="_blank" data-smartkarma-citation="entities:45422:1" rel="noopener">FIG</a> due to increased public voting rights, <a href="https://www.smartkarma.com/entities/bitfarms-ltd-of-canada" target="_blank" data-smartkarma-citation="entities:35932:1" rel="noopener">KEEL</a> &amp; <a href="https://www.smartkarma.com/entities/ashtead-group-plc" target="_blank" data-smartkarma-citation="entities:21806:1" rel="noopener">SUNB</a> due to newly eligible US index nationality, and <a href="https://www.smartkarma.com/entities/opendoor-technologies-inc" target="_blank" data-smartkarma-citation="entities:32216:1" rel="noopener">OPEN</a> &amp; BMNR due to a price surge.</li>
<li>
<a href="https://www.smartkarma.com/entities/ashtead-group-plc" target="_blank" data-smartkarma-citation="entities:21806:1" rel="noopener"></a>Projected deletions include <a href="https://www.smartkarma.com/entities/beyond-meat-inc" target="_blank" data-smartkarma-citation="entities:28065:1" rel="noopener">Beyond Meat (BYND US)</a>, <a href="https://www.smartkarma.com/entities/getty-images-holdings-inc" target="_blank" data-smartkarma-citation="entities:37015:1" rel="noopener">Getty Images (GETY US)</a>, and <a href="https://www.smartkarma.com/entities/alight-inc" target="_blank" data-smartkarma-citation="entities:27940:1" rel="noopener">Alight (ALIT US)</a> because of prices below $1 despite market caps of ~$400m.</li>
<li>Anticipated migrations from R2000 to R1000 include<a href="https://www.smartkarma.com/entities/bloom-energy-corp" target="_blank" data-smartkarma-citation="entities:34062:1" rel="noopener"> Bloom Energy (BE US)</a>, <a href="https://www.smartkarma.com/entities/nextracker-inc" target="_blank" data-smartkarma-citation="entities:36731:1" rel="noopener">Nextpower (NXT US)</a>, <a href="https://www.smartkarma.com/entities/fabrinet" target="_blank" data-smartkarma-citation="entities:8813:1" rel="noopener">Fabrinet (FN US)</a>, and <a href="https://www.smartkarma.com/entities/credo-technology-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:35436:1" rel="noopener">Credo Technology (CRDO US)</a>, resulting in passive fund supply.</li>
</ul>


Forecasted inclusions include CRWV &amp; FIG due to increased public voting rights, KEEL &amp; SUNB due to newly eligible US index nationality, and OPEN &amp; BMNR due to a price surge.

Projected deletions include Beyond Meat (BYND US), Getty Images (GETY US), and Alight (ALIT US) because of prices below $1 despite market caps of ~$400m.
Anticipated migrations from R2000 to R1000 include Bloom Energy (BE US), Nextpower (NXT US), Fabrinet (FN US), and Credo Technology (CRDO US), resulting in passive fund supply.


US R3000 Annual Forecasts - Jun26: Additions, Deletions & Migrations

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kyowa-kirin-co-ltd" target="_blank" data-smartkarma-citation="entities:18055:1" rel="noopener">Kyowa Kirin Co Ltd (4151 JP)</a> has announced partnership with <a href="https://www.smartkarma.com/entities/bridgebio-pharma-inc" target="_blank" data-smartkarma-citation="entities:28746:1" rel="noopener">Bridgebio Pharma Inc (BBIO US)</a> for an exclusive license on infigratinib for achondroplasia, hypochondroplasia, and other skeletal dysplasias in Japan.</li>
<li>This month, Kyowa Kirin has enrolled first patient in a Phase 2 clinical trial evaluating tivozanib eye drops (KHK4951) in patients with diabetic macular edema (DME).</li>
<li>The company’s top selling drug Crysvita is growing steadily since launch. Crysvita led to better-than-expected result in 2023. However, higher R&amp;D expenses will negatively impact 2024 operating profit.</li>
</ul>



Kyowa Kirin Co Ltd (4151 JP) has announced partnership with Bridgebio Pharma Inc (BBIO US) for an exclusive license on infigratinib for achondroplasia, hypochondroplasia, and other skeletal dysplasias in Japan.
This month, Kyowa Kirin has enrolled first patient in a Phase 2 clinical trial evaluating tivozanib eye drops (KHK4951) in patients with diabetic macular edema (DME).
The company’s top selling drug Crysvita is growing steadily since launch. Crysvita led to better-than-expected result in 2023. However, higher R&amp;D expenses will negatively impact 2024 operating profit.


Kyowa Kirin (4151 JP): Recent Portfolio Strengthening Initiatives to Accelerate Long-Term Growth

United States

Ultragenyx Pharmaceutical Inc. provides biotechnology services. The Company develops therapeutics and sialic acid for treating metabolic, body myopathy, glucuronidase, and rare genetic diseases. Ultragenyx Pharmaceutical conducts its business in the United States.

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Ultragenyx Pharmaceutical (RARE US)

Ultragenyx Stock Explodes After Historic FDA Win!

Ultragenyx Pharmaceutical suddenly has a new story for Wall Street. Shares closed 13% higher at $14.50 after the FDA approved Fayuvi, a one-time...

Baptista Research

Ultragenyx Loses 42% In A Day: What Really Went Wrong In The Setrusumab Trials!

Ultragenyx Pharmaceutical shares plunged 42% in a single session after a major setback in its brittle-bone disease program. The company reported...

Baptista Research

U.S. Equity Strategy: Several Indicators Suggest a Pullback Likely

Despite the bulls still being in control, we have several ongoing concerns and we cannot rule out the potential for a pullback. Below we highlight...

Vermilion Research

US R3000 Annual Forecasts - Jun26: Additions, Deletions & Migrations

The last annual reconstitution for index US‑R3000 is approaching, with additions and deletions driven by public voting rights, extreme price...

Dimitris Ioannidis

Kyowa Kirin (4151 JP): Recent Portfolio Strengthening Initiatives to Accelerate Long-Term Growth

Kyowa Kirin partners with Bridgebio for infigratinib in Japan and enrolls first patient in Phase 2 trial for tivozanib eye drop for DME. Higher...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ultragenyx Stock Explodes After Historic FDA Win!

Ultragenyx Pharmaceutical suddenly has a new story for Wall Street. Shares closed 13% higher at $14.50 after the FDA approved Fayuvi, a one-time...

Baptista Research

Ultragenyx Loses 42% In A Day: What Really Went Wrong In The Setrusumab Trials!

Ultragenyx Pharmaceutical shares plunged 42% in a single session after a major setback in its brittle-bone disease program. The company reported...

Baptista Research

U.S. Equity Strategy: Several Indicators Suggest a Pullback Likely

Despite the bulls still being in control, we have several ongoing concerns and we cannot rule out the potential for a pullback. Below we highlight...

Vermilion Research

US R3000 Annual Forecasts - Jun26: Additions, Deletions & Migrations

The last annual reconstitution for index US‑R3000 is approaching, with additions and deletions driven by public voting rights, extreme price...

Dimitris Ioannidis

Kyowa Kirin (4151 JP): Recent Portfolio Strengthening Initiatives to Accelerate Long-Term Growth

​Kyowa Kirin partners with Bridgebio for infigratinib in Japan and enrolls first patient in Phase 2 trial for tivozanib eye drop for DME. Higher...

Tina Banerjee

Kyowa Kirin partners with Bridgebio for infigratinib in Japan and enrolls first patient in Phase 2 trial for tivozanib eye drop for DME. Higher...