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

<ul><li>Amgen delivered strong volume-driven growth in the last quarter which resulted in the company managing an all-around beat.</li><li>Many of the innovative products of the company performed quite well, namely Evenity, Prolia, Otezia, and Repatha, all of which delivered sales growth of double-digits.</li><li>Across general medicine, oncology, and information, the company has a wide portfolio of biosimilar and innovative products that meet the patients' needs globally.</li></ul>

Amgen delivered strong volume-driven growth in the last quarter which resulted in the company managing an all-around beat.Many of the innovative products of the company performed quite well, namely Evenity, Prolia, Otezia, and Repatha, all of which delivered sales growth of double-digits.Across general medicine, oncology, and information, the company has a wide portfolio of biosimilar and innovative products that meet the patients' needs globally.

Amgen Inc: The ChemoCentryx Acquisition & Other Drivers

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

<ul>
<li>IVD field ushered in the largest centralized procurement in history - the liver function biochemical testing reagents,which would bring great reshuffle effect to the competition pattern of biochemical diagnostics market.</li>
<li>
<a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK) </a>and Sanofi reached two major cooperation. Meanwhile, Innovent’s CCO Liu Min resigned. We deep dived the logic and impact behind. </li>
<li>For HK IPO, market participants have come up with ways to reduce issuance scale in an attempt to stabilize the performance of new shares after IPO, which wouldn’t help.</li>
</ul>


IVD field ushered in the largest centralized procurement in history - the liver function biochemical testing reagents,which would bring great reshuffle effect to the competition pattern of biochemical diagnostics market.

Innovent Biologics Inc (1801 HK) and Sanofi reached two major cooperation. Meanwhile, Innovent’s CCO Liu Min resigned. We deep dived the logic and impact behind. 
For HK IPO, market participants have come up with ways to reduce issuance scale in an attempt to stabilize the performance of new shares after IPO, which wouldn’t help.


China Healthcare Weekly (Aug.5) - HK IPO, Innovent, BeiGene, the Largest IVD Centralized Procurement

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

<ul>
<li>We continue to view the price action over the past month as a bear market bounce in the S&amp;P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM).</li>
<li>Each index appears to be forming a bearish flag pattern. Until the S&amp;P 500, QQQ, and IWM can break above their YTD downtrends, we remain bearish.</li>
<li>We continue to believe that this bear market is being fueled by the rising U.S. dollar (DXY), rising 10-yr Treasury yield, and the move higher in WTI crude oil.</li>
</ul>


We continue to view the price action over the past month as a bear market bounce in the S&amp;P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM).
Each index appears to be forming a bearish flag pattern. Until the S&amp;P 500, QQQ, and IWM can break above their YTD downtrends, we remain bearish.
We continue to believe that this bear market is being fueled by the rising U.S. dollar (DXY), rising 10-yr Treasury yield, and the move higher in WTI crude oil.


U.S. Indexes Form Bear Flag Patterns Within Downtrends; Opportunities Within Health Care

Equity Long-Short Analyst

Pyari Menon

<ul>
<li>2021 saw a significant jump in RNA based trials. Large sequencing projects and the success of mRNA COVID-19 vaccines should drive the growth of the global RNA therapeutics market. </li>
<li>Our analysis suggests that <a href="https://www.smartkarma.com/entities/moderna-inc" target="_blank" data-smartkarma-citation="entities:28744:1" rel="noopener">Moderna Inc (MRNA US)</a> , <a href="https://www.smartkarma.com/entities/vertex-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:4864:1" rel="noopener">Vertex Pharmaceuticals (VRTX US),</a> <a href="https://www.smartkarma.com/entities/incyte-corp" target="_blank" data-smartkarma-citation="entities:20576:1" rel="noopener">Incyte Corp (INCY US), </a><a href="https://www.smartkarma.com/entities/alnylam-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:2191:1" rel="noopener">Alnylam Pharmaceuticals (ALNY US), </a><a href="https://www.smartkarma.com/entities/isis-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:7017:1" rel="noopener">Ionis Pharmaceuticals (IONS US)</a> lead in RNA therapy related innovations.</li>
<li>R&amp;D collaboration, licensing deals, strategic investments and buyouts between RNA specialists and big pharma will increase as sitting on the sidelines might no longer be an option.</li>
</ul>


2021 saw a significant jump in RNA based trials. Large sequencing projects and the success of mRNA COVID-19 vaccines should drive the growth of the global RNA therapeutics market. 
Our analysis suggests that Moderna Inc (MRNA US) , Vertex Pharmaceuticals (VRTX US), Incyte Corp (INCY US), Alnylam Pharmaceuticals (ALNY US), Ionis Pharmaceuticals (IONS US) lead in RNA therapy related innovations.
R&amp;D collaboration, licensing deals, strategic investments and buyouts between RNA specialists and big pharma will increase as sitting on the sidelines might no longer be an option.


Data Mining Technical Publications to Rank the Innovators in RNA Therapeutics

<ul>
<li>A bear market bounce is underway after the S&amp;P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM) found support at their respective downtrend channels, a possibility we discussed last week.</li>
<li>Still, until the S&amp;P 500, QQQ, and IWM can break above their various downtrends, we remain bearish, and believe investors should be using rallies to reduce overall exposure.</li>
<li>This 1-week rally has the NDX(QQQ) testing resistance at its falling wedge pattern; a break above $297 would likely mean this bear market bounce has another 2-4 weeks of upside.</li>
</ul>


A bear market bounce is underway after the S&amp;P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM) found support at their respective downtrend channels, a possibility we discussed last week.
Still, until the S&amp;P 500, QQQ, and IWM can break above their various downtrends, we remain bearish, and believe investors should be using rallies to reduce overall exposure.
This 1-week rally has the NDX(QQQ) testing resistance at its falling wedge pattern; a break above $297 would likely mean this bear market bounce has another 2-4 weeks of upside.


Signs of Disinflation?; Commodities Deteriorating; Another Bear Market Bounce; Pharma/Biotech Buys

United States

Amgen Inc. is an independent biotechnology medicines company that discovers, develops, manufactures and markets medicines for grievous illnesses. The Company focuses solely on human therapeutics and concentrates on innovating novel medicines based on advances in cellular and molecular biology.

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Amgen Inc (AMGN US)

Amgen Inc: The ChemoCentryx Acquisition & Other Drivers

Amgen delivered strong volume-driven growth in the last quarter which resulted in the company managing an all-around beat. Many of the innovative...

Baptista Research

China Healthcare Weekly (Aug.5) - HK IPO, Innovent, BeiGene, the Largest IVD Centralized Procurement

IVD field ushered in the largest VBP in history. Innovent/Sanofi reached major cooperation, and Innovent’s CCO resigned. We deep dived the logic...

Xinyao (Criss) Wang

U.S. Indexes Form Bear Flag Patterns Within Downtrends; Opportunities Within Health Care

We continue to view the price action over the past month as a bear market bounce in the S&P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM), as each...

Vermilion Research

Data Mining Technical Publications to Rank the Innovators in RNA Therapeutics

Specialists lead the RNA intellectual property ecosystem but may still need big pharma to bring new treatments to market making the space ripe for...

Pyari Menon

Signs of Disinflation?; Commodities Deteriorating; Another Bear Market Bounce; Pharma/Biotech Buys

A bear market bounce is underway after the SPX, QQQ, and IWM found support at their respective downtrend channels. Until these indexes can break...

Vermilion Research

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