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 Capital Markets

<ul><li>Biogen has had one of its most eventful years so far in the history of the company.</li><li>If the company surpasses these hurdles, it could be well-equipped for a long-term leadership in Alzheimer's disease.</li><li>Furthermore, Spinraza continued to perform very well outside the United States, with 23% revenue growth compared to the Q2 of last year.</li></ul>

Biogen has had one of its most eventful years so far in the history of the company.If the company surpasses these hurdles, it could be well-equipped for a long-term leadership in Alzheimer's disease.Furthermore, Spinraza continued to perform very well outside the United States, with 23% revenue growth compared to the Q2 of last year.

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

Industry viewpoints:<ul>
<li>Considering the importance of blood products, the 14th Five-Year Plan will accelerate the construction of plasma stations in China so as to achieve the self-sufficiency in blood products.</li>
<li>Public health is the focus of the 14th Five-Year Plan for medical reform. Among them, due to the strong demand from the downstream, the medical IT industry is expected to usher in a faster development.</li>
<li>The outbreak of COVID-19 in 2020 would accelerate Chinese consumers' awareness and attention of immunonutrition products, such as the probiotics products.</li>
</ul>Company news:News about the updated progress on drugs and new cooperation agreements of <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>, <a href="https://www.smartkarma.com/entities/jiangsu-hengrui-medicine-co-ltd" target="_blank" data-smartkarma-citation="entities:14128:1" rel="noopener">Jiangsu Hengrui Medicine (600276 CH)</a>, <a href="https://www.smartkarma.com/entities/innocare-pharma-ltd" target="_blank" data-smartkarma-citation="entities:28355:1" rel="noopener">InnoCare Pharma Ltd (9969 HK) </a>and <a href="https://www.smartkarma.com/entities/remegen-co-ltd" target="_blank" data-smartkarma-citation="entities:29191:1" rel="noopener">Remegen Co Ltd (9995 HK)</a>.Market review:Last week, stock price for healthcare sector in A share increased 2.61%, while CSI 300 increased 0.50% over the same period of timeRisk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Industry viewpoints:
Considering the importance of blood products, the 14th Five-Year Plan will accelerate the construction of plasma stations in China so as to achieve the self-sufficiency in blood products.
Public health is the focus of the 14th Five-Year Plan for medical reform. Among them, due to the strong demand from the downstream, the medical IT industry is expected to usher in a faster development.
The outbreak of COVID-19 in 2020 would accelerate Chinese consumers' awareness and attention of immunonutrition products, such as the probiotics products.
Company news:News about the updated progress on drugs and new cooperation agreements of Innovent Biologics Inc (1801 HK), Jiangsu Hengrui Medicine (600276 CH), InnoCare Pharma Ltd (9969 HK) and Remegen Co Ltd (9995 HK).Market review:Last week, stock price for healthcare sector in A share increased 2.61%, while CSI 300 increased 0.50% over the same period of timeRisk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Latest News from the World’s Leading Innovators

Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

Headline developments are all up in the air this week, starting with United Airlines (UAL) who have signed an agreement with Boom Supersonic (private) to add 15 of their $200m jets to the fleet, with the option of adding an additional 35, after certain safety, sustainability and operating metrics are met.

Headline developments are all up in the air this week, starting with United Airlines (UAL) who have signed an agreement with Boom Supersonic (private) to add 15 of their $200m jets to the fleet, with the option of adding an additional 35, after certain safety, sustainability and operating metrics are met.

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<div>
A group of shareholders plans to raise around US$200m via selling a 4.6% stake in <a href="https://www.smartkarma.com/entities/i-mab" target="_blank" data-smartkarma-citation="entities:28384:1" rel="noopener">I-Mab (IMAB US).</a>
We have previously covered the IPO in:
</div><div><ul style="list-style-type: disc;">
<li><a href="https://www.smartkarma.com/insights/i-mab-pre-ipo-strong-management-and-investor-backing-with-differentiated-products" target="_blank" rel="noopener">I-Mab (天境生物) Pre-IPO: Strong management and investor backing with differentiated products</a></li>
<li><a href="https://www.smartkarma.com/insights/i-mab-ipo-everest-deal-a-valuation-booster" target="_blank" rel="noopener">I-Mab (天境生物) IPO: Everest Deal a Valuation Booster</a></li>
<li><a href="https://www.smartkarma.com/insights/i-mab-ipo-trading-tiny-float-and-undemanding-valuation" target="_blank" rel="noopener">I-Mab (天境生物) IPO Trading: Tiny Float and Undemanding Valuation</a></li>
</ul></div><div>In this insight, we will talk about updates since then and run the deal through our ECM framework.</div>


A group of shareholders plans to raise around US$200m via selling a 4.6% stake in I-Mab (IMAB US).
We have previously covered the IPO in:

I-Mab (天境生物) Pre-IPO: Strong management and investor backing with differentiated products
I-Mab (天境生物) IPO: Everest Deal a Valuation Booster
I-Mab (天境生物) IPO Trading: Tiny Float and Undemanding Valuation
In this insight, we will talk about updates since then and run the deal through our ECM framework.

I-Mab Placement - Heading in the Right Direction

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

S&amp;P 500 Potential Support Levels. Current logical support levels we are monitoring include the December 2018 low of 2,346 and prior resistance in 2015-2016 at 2,130-2,200. The 2,346 level would make a lot of sense, however there is nothing that says we can’t be down 35% (coinciding with the 2,130-2,200 level) or more from the highs. Ultimately, COVID-19 is holding the market hostage and it likely will stay that way until the virus spread diminishes.

S&amp;P 500 Potential Support Levels. Current logical support levels we are monitoring include the December 2018 low of 2,346 and prior resistance in 2015-2016 at 2,130-2,200. The 2,346 level would make a lot of sense, however there is nothing that says we can’t be down 35% (coinciding with the 2,130-2,200 level) or more from the highs. Ultimately, COVID-19 is holding the market hostage and it likely will stay that way until the virus spread diminishes.

S&P 500 Technical Appraisal and Support Levels

United States

Biogen Inc. develops, manufactures, and commercializes therapies, focusing on neurology, oncology, and immunology. The Company's products address diseases such as multiple sclerosis, non-Hodgkin's lymphoma, rheumatoid arthritis, Crohn's disease, and psoriasis.

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Biogen Inc (BIIB US)

Biogen Inc. - Investment Thesis

Biogen has had one of its most eventful years so far in the history of the company. If the company surpasses these hurdles, it could be...

Baptista Research

China Healthcare Weekly (July.16)

The article mainly analyzed China's plan to accelerate the construction of plasma stations, promising outlook of medical IT industry...

Xinyao (Criss) Wang

Weekly Innovation Review (WIRE) #35

Headline developments are all up in the air this week, starting with United Airlines (UAL) who have signed an agreement with Boom Supersonic

Granite Bay Capital

I-Mab Placement - Heading in the Right Direction

A group of shareholders plans to raise around US$200m via selling a 4.6% stake in I-Mab (IMAB US). We have previously covered the IPO as well.

Sumeet Singh

S&P 500 Technical Appraisal and Support Levels

S&P 500 Potential Support Levels. Current logical support levels we are monitoring include the December 2018 low of 2,346 and prior resistance...

Vermilion Research

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