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>Mirati Therapeutics reported its second quarter 2023 earnings and had a decent performance.</li><li>During this period, Mirati launched KRAZATI, reflecting a significant milestone as it transitioned to a commercial-stage company under the guidance of then CEO, David Meek.</li><li>However, in a noteworthy change announced during the call, Dr. Chuck Baum has taken on the role of interim CEO, following Meek's departure.</li></ul>

Mirati Therapeutics reported its second quarter 2023 earnings and had a decent performance.During this period, Mirati launched KRAZATI, reflecting a significant milestone as it transitioned to a commercial-stage company under the guidance of then CEO, David Meek.However, in a noteworthy change announced during the call, Dr. Chuck Baum has taken on the role of interim CEO, following Meek's departure.

Mirati Therapeutics Inc.: Expansion of KRAZATI

<ul><li>This is our first report on Mirati Therapeutics Inc., a pharmaceutical firm specializing in cancer treatment.</li><li>The company has shown significant potential with a robust pipeline and innovative programs targeting areas of cancer with large unmet needs.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

This is our first report on Mirati Therapeutics Inc., a pharmaceutical firm specializing in cancer treatment.The company has shown significant potential with a robust pipeline and innovative programs targeting areas of cancer with large unmet needs.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Mirati Therapeutics: Initiation of Coverage - Inside the Strategy Poised to Skyrocket KRAZATI's Market Share in 2023! - Major Drivers

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>Revolution Medicines, an American oncology-focused biotechnology company, has made considerable progress in developing therapies for patients with RAS-addicted cancers.</li>
<li>We launched coverage of the stock In November 2023 and added Revolution Medicines to our high conviction list of ideas.</li>
<li>RevMed shares has massively outperformed in 2024 with shares up ~92% YTD vs. a ~12% gain on the XBI. I established a $55 PT and see the valuation as full. </li>
</ul>


Revolution Medicines, an American oncology-focused biotechnology company, has made considerable progress in developing therapies for patients with RAS-addicted cancers.
We launched coverage of the stock In November 2023 and added Revolution Medicines to our high conviction list of ideas.
RevMed shares has massively outperformed in 2024 with shares up ~92% YTD vs. a ~12% gain on the XBI. I established a $55 PT and see the valuation as full. 


2023 High Conviction Update: Revolution Medicines, Time To Take Profits?

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Jacobio Pharmaceuticals / Equity Capital Markets

<ul>
<li>There is limited breakthrough points in the field of small molecule drugs. Except those big varieties, the market space of small-molecular drugs is not optimistic due to small applicable population.</li>
<li>For KRAS, it just crossed the threshold of druggablility, but the whole pathway hasn’t shown the feeling of being a blockbuster variety, which would dampen the optimism of Jacobio's valuation.</li>
<li>Jacobio is among the few biotech under Chapter 18A who really develop drugs seriously. Therefore, despite the challenging outlook, we hoped that Dr. Yinxiang Wang would finally break through.</li>
</ul>


There is limited breakthrough points in the field of small molecule drugs. Except those big varieties, the market space of small-molecular drugs is not optimistic due to small applicable population.
For KRAS, it just crossed the threshold of druggablility, but the whole pathway hasn’t shown the feeling of being a blockbuster variety, which would dampen the optimism of Jacobio's valuation.
Jacobio is among the few biotech under Chapter 18A who really develop drugs seriously. Therefore, despite the challenging outlook, we hoped that Dr. Yinxiang Wang would finally break through.


Jacobio Pharmaceuticals Placement (1167.HK) - We Keep Hope for Jacobio Because of Dr. Wang Yinxiang

Algosun Global

<ul>
<li>
<a href="https://www.smartkarma.com/entities/revolution-medicines-inc" target="_blank" data-smartkarma-citation="entities:36535:1" rel="noopener">Revolution Medicines (RVMD US)</a>  is focused on therapies to inhibit frontier targets in RAS-addicted cancers. The company’s pipeline is among the strongest in small-cap biotech. </li>
<li>We expect Revolution Medicines shares to outperform the market over the next 12 months as solid performance from the RAS(ON) inhibitor pipeline and oral inhibitor of SHP2 continues. </li>
<li>Investors gain confidence in the rest of the RAS(ON) inhibitor pipeline, including RMC-6291, RMC-6236, and RMC-5552. Management will provide topline data from RMC-4630-03 in 2H 2023. </li>
</ul>



Revolution Medicines (RVMD US)  is focused on therapies to inhibit frontier targets in RAS-addicted cancers. The company’s pipeline is among the strongest in small-cap biotech. 
We expect Revolution Medicines shares to outperform the market over the next 12 months as solid performance from the RAS(ON) inhibitor pipeline and oral inhibitor of SHP2 continues. 
Investors gain confidence in the rest of the RAS(ON) inhibitor pipeline, including RMC-6291, RMC-6236, and RMC-5552. Management will provide topline data from RMC-4630-03 in 2H 2023. 


2023 High Conviction: Revolution Medicines – Cracking The KRAS In Cancer

United States

Mirati Therapeutics, Inc. is a targeted oncology company developing a pipeline of therapeutics for precisely defined patient populations. The Mirati team is using a blueprint proven by their prior work for developing potential breakthrough therapies with accelerated development paths.

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Mirati Therapeutics (MRTX US)

Mirati Therapeutics Inc.: Expansion of KRAZATI

Mirati Therapeutics reported its second quarter 2023 earnings and had a decent performance. During this period, Mirati launched KRAZATI,...

Baptista Research

2023 High Conviction Update: Revolution Medicines, Time To Take Profits?

I remove Revolution Medicines stock from my high conviction list of ideas due to achieving a $55.00 price target and full valuation relative to peers.

Andrei Zakharov

Jacobio Pharmaceuticals Placement (1167.HK) - We Keep Hope for Jacobio Because of Dr. Wang Yinxiang

Jacobio's situation and prospects are full of challenges, but Dr. Wang Yinxiang/Jacobio is among the few biotech under Chapter 18A who really...

Xinyao (Criss) Wang

2023 High Conviction: Revolution Medicines – Cracking The KRAS In Cancer

Oncology-focused unicorn Revolution Medicines is our high-risk/high-reward conviction idea for 2023 as we see room for further gains among select...

Andrei Zakharov

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52-week Range

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Mirati Therapeutics Inc.: Expansion of KRAZATI

Mirati Therapeutics reported its second quarter 2023 earnings and had a decent performance. During this period, Mirati launched KRAZATI,...

Baptista Research

Mirati Therapeutics: Initiation of Coverage - Inside the Strategy Poised to Skyrocket KRAZATI's Market Share in 2023! - Major Drivers

This is our first report on Mirati Therapeutics Inc., a pharmaceutical firm specializing in cancer treatment. The company has shown significant...

Baptista Research

2023 High Conviction Update: Revolution Medicines, Time To Take Profits?

I remove Revolution Medicines stock from my high conviction list of ideas due to achieving a $55.00 price target and full valuation relative to peers.

Andrei Zakharov

Jacobio Pharmaceuticals Placement (1167.HK) - We Keep Hope for Jacobio Because of Dr. Wang Yinxiang

Jacobio's situation and prospects are full of challenges, but Dr. Wang Yinxiang/Jacobio is among the few biotech under Chapter 18A who really...

Xinyao (Criss) Wang

2023 High Conviction: Revolution Medicines – Cracking The KRAS In Cancer

Oncology-focused unicorn Revolution Medicines is our high-risk/high-reward conviction idea for 2023 as we see room for further gains among select...

Andrei Zakharov