Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

I possess investment research experience across asset classes and geographies, acquired at Investcorp (New York) and Howe & Rusling (Rochester). At Investcorp, an alternative asset manager, I was part of an investment team managing >$1bn in discretionary client assets. I was also a member of investment recommendation, monitoring, cross-asset strategy and macro outlook committees that met periodically for investment decisions and top-down views. At Howe & Rusling, a long-only asset manager, I helped cover US large-cap equity investments across sectors for growth and income focused portfolios as well as assisted in managing a US small-cap growth focused equity portfolio. I possess an MBA in finance and corporate accounting from University of Rochester in US, a CFA Charter, and an Engineering degree from Indian Institute of Technology Bombay in India.  

My current focus is L/S equity fundamental research across market cap and sectors with an eye on corporate governance and forensic accounting. I am currently based in India and my current coverage universe is biased towards India.

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Regulatory Disclosure: Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details -
Address: A-602, Titanium Business Park, Makarba, Ahmedabad - 380051 |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289

Compliance/Grievance Officer -
Name: Ankit Agrawal |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289
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Equity L/S Analyst | Forensic Accounting | India

US Hidden Gems | Avid Bioservices: Transitioning Avidly to Pure-Play Biologics CDMO

Avid Bioservices: Reports Largest Quarterly Profit Ever; Robust Guidance and Attractive Valuation

Avid Bioservices: Strong Quarterly Performance Led to 25%+ Re-Rating Last Week. More to Go.

Wuxi Biologics Placement: Another Pre-Lockup Placement but Past Deals Have Done Well

Company Spotlight: Buy WuXi Biologics Inc. (2269-HK)

WuXi Biologics Placement: Pushing the Limits

Equity Bottom-Up

<p>Over the next few weeks/months, we will be initiating coverage on a few key players in the Global CDMO space, where we see interesting growth trends. Our focus in particular will be on biopharma focused CDMOs where the processes are highly technology driven leading to significant barriers to entry. These CDMOs are also seeing strong growth backed by accelerated growth in biologics, increased outsourcing and potential market share consolidation among the large biopharma CDMO players.</p>
<p>We begin with our deep-dive coverage on <a href="https://www.smartkarma.com/entities/lonza-group-ag" target="_blank" data-smartkarma-citation="entities:22580:1" rel="noopener">Lonza Group AG (LONN VX)</a>, a global leader in the CDMO space with strong offerings in the bio-pharma CDMO space. Lonza has a market-leading presence across biopharma and small molecules end-to-end CDMO offerings. It has a strong operational and regulatory track record built over the past many decades that has enabled it to establish a wide-reaching client base. Lonza was founded in 1897 and is based out of Switzerland. Its operations and client reach span globally.</p>
<h3>Insight Flow</h3>
<ul>
<li>Business Background</li>
<li>Investment Thesis</li>
<li>Valuation</li>
<li>Catalysts</li>
<li>Risks</li>
<li>Conclusion</li>
</ul>

Over the next few weeks/months, we will be initiating coverage on a few key players in the Global CDMO space, where we see interesting growth trends. Our focus in particular will be on biopharma focused CDMOs where the processes are highly technology driven leading to significant barriers to entry. These CDMOs are also seeing strong growth backed by accelerated growth in biologics, increased outsourcing and potential market share consolidation among the large biopharma CDMO players.
We begin with our deep-dive coverage on Lonza Group AG (LONN VX), a global leader in the CDMO space with strong offerings in the bio-pharma CDMO space. Lonza has a market-leading presence across biopharma and small molecules end-to-end CDMO offerings. It has a strong operational and regulatory track record built over the past many decades that has enabled it to establish a wide-reaching client base. Lonza was founded in 1897 and is based out of Switzerland. Its operations and client reach span globally.
Insight Flow

Business Background
Investment Thesis
Valuation
Catalysts
Risks
Conclusion


Lonza: A Bellwether Biopharma Focused CDMO | At Inflection Point, To Benefit from Ongoing Capex