With all the vagaries in the market these days, investors may be better served considering undervalued biotech stocks to buy. At the most basic level, biotechnology firms aim to address critical vulnerabilities in the human condition. Therefore, while the sector certainly features a profit motivation, it generally falls under a feel-good framework.
To be fair, this narrative does not mean that undervalued biotech stocks to buy feature no risk. Those companies tied to novel therapeutics necessarily absorb the dangers of clinical testing failures. As well, the present monetary environment with the Federal Reserve raising the benchmark interest rate will have some effect on the risk-on components of biotechnology firms.
However, to help mitigate some of the downside threats, investors may want to consider undervalued biotech stocks to buy. Generally, these market ideas either don’t attract the spotlight or have suffered significant cuts to their valuations. However, they maintain long-term relevance, making them possible contrarian catalysts.
Top 5 Undervalued Stocks To Buy For 2023: Axalta Coating Systems Ltd.(AXTA)
Axalta Coating Systems Ltd., through its subsidiaries, manufactures, markets, and distributes high performance coatings products primarily for the transportation industry. It operates through two segments, Performance Coatings and Transportation Coatings. The Performance Coatings segment offers various waterborne and solventborne products and systems that are used to refinish damaged vehicles for independent body shops, multi-shop operators, and original equipment manufacturer (OEM) dealership body shops. This segment also provides functional and decorative liquid and powder coatings for use in various industrial applications, including architectural cladding and fittings, automotive coatings, general industrial, job coaters, electrical insulation coatings, HVAC, appliances, rebar, and oil and gas pipelines. It offers liquid coatings under the Voltatex, AquaEC, Chemophan, Lutophen, Stollaquid, and Syntopal brand names; and powder coatings under the brand names of Alesta, Nap-Gard, and Abcite. This segment sells and supplies its products directly to customers, as well as through a network of independent local distributors. The Transportation Coatings segment develops and supplies a line of coatings products, such as electrocoat, primer, basecoat, and clearcoat products for light vehicle OEMs for the coating of new vehicles; and various coatings systems for various commercial applications, including heavy-duty truck, bus, rail, and agricultural construction equipment. It sells and ships its products directly to light vehicle OEM customers. Axalta Coating Systems Ltd. has operations in North America; Europe, the Middle East, and Africa; the Asia Pacific; and Latin America. The company was formerly known as Axalta Coating Systems Bermuda Co., Ltd. and changed its name to Axalta Coating Systems Ltd. in August 2014. Axalta Coating Systems Ltd. was founded in 1866 and is headquartered in Philadelphia, Pennsylvania.
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Dover Corp. (NYSE: DOV) spans multiple industries for equipment and components, pumps, conveyors and other items used by manufacturers and goods-producing companies. Its dividend hike in August 2018 marked the 63rd consecutive year of dividend hikes since its founding in 1947.
- [By Shane Hupp]
Prudential Financial Inc. lowered its holdings in Dover Corp (NYSE:DOV) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 181,580 shares of the industrial products company’s stock after selling 3,896 shares during the quarter. Prudential Financial Inc.’s holdings in Dover were worth $12,883,000 as of its most recent filing with the Securities & Exchange Commission.
- [By Joseph Griffin]
Shares of Dover Corp (NYSE:DOV) reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The stock traded as high as $91.26 and last traded at $91.20, with a volume of 1082973 shares traded. The stock had previously closed at $90.07.
- [By Lee Samaha]
Suffice to note that Welbilt stock also had a strong month and other companies with segments exposed to the food sector, such as Dover (NYSE:DOV) and Illinois Tool Works (NYSE:ITW), had pretty good months as well.
Top 5 Undervalued Stocks To Buy For 2023: Trillium Therapeutics Inc.(TRIL)
Trillium Therapeutics Inc is a Canada-based clinical stage immuno-oncology company developing therapies for the treatment of cancer. Its SIRPaFc (TTI-621) program, which is under Phase I clinical trial, is a fusion protein that consists of the CD47-binding domain of human SIRPa linked to the fragment crystallizable (Fc) region of a human immunoglobulin (IgG1). It acts as a soluble decoy receptor, preventing CD47 from delivering its inhibitory signal. Neutralization of the inhibitory CD47 signal enables the activation of macrophage anti-tumor effects by pro-phagocytic signals. It also has a medicinal chemistry platform, which permits the creation of new chemical entities from validated drugs and drug candidates with managed pharmacological properties. Its preclinical program is an orally-available bromodomain inhibitor, followed by an epidermal growth factor receptor antagonist with increased uptake in the brain. In addition, a number of compounds are in the discovery phase. Advisors’ Opinion:
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Shares of Trillium Therapeutics (TRIL) – Get Report as much as tripled on Monday after Pfizer said it would buy the company, a deal that values the immuno-oncology specialist at around $2.3 billion. Pfizer invested $25 million in Trillium last year.
- [By Dan Caplinger (TMFGalagan)]
Pfizer’s stock was among the best performers in the Dow on a percentage basis thanks to a couple of news items that lifted its share price. Nevertheless, Pfizer’s gains were minimal compared to the boosts in the other companies involved with the drugmaker. Below, we’ll look at what good news for Pfizer meant for BioNTech (NASDAQ:BNTX) and Trillium Therapeutics (NASDAQ:TRIL).
- [By Ethan Ryder]
Get a free copy of the Zacks research report on Trillium Therapeutics (TRIL)
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Top 5 Undervalued Stocks To Buy For 2023: DiDi Global Inc.(DIDI)
DiDi Global Inc., a mobility technology platform, provides ride hailing and other services in the People's Republic of China, Brazil, Mexico, and internationally. It offers ride hailing, taxi hailing, chauffeur, hitch, and other forms of shared mobility services, as well as enterprise business ride solutions; auto solutions comprising leasing, refueling, and maintenance and repair services; electric vehicle leasing services; bike and e-bike sharing, intra-city freight, food delivery, and financial services. The company was formerly known as Xiaoju Kuaizhi Inc. and changed its name to DiDi Global Inc. in June 2021. DiDi Global Inc. was founded in 2012 and is headquartered in Beijing, China.
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Other news in the stock market today:
The small-cap Russell 2000 retreated 0.5% to 2,292.Open-source database developer MongoDB (MDB) jumped more than 26% after the company reported a 44% year-over-year spike in revenues to $199 million. What's more, revenue from its Atlas cloud database surged 83% from the year prior, and now accounts for 56% of total revenue. The company also reported an adjusted per-share loss of 22 cents. Analysts, on average, were expecting $184.2 million in revenue and a 39-cent per-share loss. “MongoDB not only continues to build its developer base with new capabilities, but is also seeing rising interest from large enterprises, which increasingly view it as a strategic partner supporting a growing list of use cases, the result of years of go-to-market investment that are now bearing fruit,” Oppenheimer analysts wrote in a note. They maintained their Outperform rating, which is the equivalent of a Buy. DiDi Global (DIDI) got a lift today after a Bloomberg News report suggested several state-run firms in China – including Shouqi Group, a Beijing-based transportation company – were considering an investment in the ride-hailing service. The report cited people close to the matter, though no details have been given or confirmed. DIDI stock rose 2.4% today to close at $9.02, which is still well below its late-June initial public offering (IPO) price of $14 per share.U.S. crude futures gave back 1.0% to settle at $69.29 per barrel.Gold futures popped 1.2% to end at $1,833.70 – their highest settlement price since mid-June.The CBOE Volatility Index (VIX) slipped 0.6% to 16.32.Bitcoin crossed the $50k threshold on Friday, advancing 2.3% to $50,457.20. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.).imgHideOnJavaScriptDisabled_40599vrkt5jccku { display: none !important; }
YCharts
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Imagine Uber, but with three times the drivers worldwide and 457 million more users – that’s Didi Global Inc. (NYSE: DIDI).
And the Didi stock forecast for 2025 looks sunny, despite some short-term hiccups. Let’s talk about why Didi could eventually dominate the global rideshare industry.
