Connect with us

Good Stocks To Invest In Now? 4 Blue Chip Stocks To Buy According To Analysts

Here are four top stocks to buy in the stock market today according to analysts.
The post Good Stocks To Invest In Now? 4 Blue Chip Stocks To Buy According…



Blue chip stocks are highly valued shares of large, well-established, and financially sound companies. They are called blue chips because they are considered some of the safest and most reliable investments in the stock market. Blue chip stocks tend to be less volatile than other stocks, and they often offer high dividend yields.

For these reasons, blue chips are often favored by conservative investors who are looking for stability and income. While they may not offer the same growth potential as other stocks, top blue chip stocks are an excellent choice for risk-averse investors who are looking for stability and consistent returns. If you’re now keen on researching blue-chip stocks to buy [or avoid] now, here are four to watch in the stock market today.

Blue Chip Stocks To Buy [Or Avoid] Today

1. AutoZone (AZO)

First up, AutoZone Inc. (AZO) is one of the largest retailers and distributors of automotive replacement parts and accessories in the United States. Specifically, the company sells items like automotive replacement parts, chemicals, tools, equipment, and accessories through its AutoZone stores and AutoZone Online. As of today, AutoZone operates over 6,100 retail locations throughout the United States.

AutoZone (AZO) Recent Stock News

On Monday of this week, AutoZone reported a beat for its fourth quarter 2022 financial results. In the report, AutoZone reported Q4 2022 earnings per share of $40.41 per share, with a revenue of 5.3 billion. This came in better than analysts estimated for the quarter, which was earnings of $38.38 per share, and revenue of $5.2 billion. In addition, the company posted a revenue increase of 8.9% during the same period, in 2021.

Bill Rhodes, Chairman, President, and Chief Executive Officer said this in his letter to shareholders, “Our results are a testament to our AutoZoners’ ongoing commitment to delivering exceptional customer service every day.  Our retail business performed well this quarter ending with positive same-store sales on top of last year’s strong performance.  And, our commercial business growth continued to be exceptionally strong at 22%. The investments we have made in both inventory availability and technology are enhancing our competitive positioning.  We are optimistic about our growth prospects heading into our new fiscal year.

Aside from this, today brokerages like Citigroup (NYSE: C), and Jeffries Financial Group (NYSE: JEF) raised their price targets on AutoZone stock. In detail, Citigroup increased its price target on AZO stock from $2,250 per share to $2,520 per share. Meanwhile, Jeffries also raised their price target from $2,350 to $2,450 per share.

AutoZone (AZO) Stock Chart

As of Tuesday mid-morning, shares of AZO stock are up over 1% at $2,120.12 a share. Given its strong quarter, and the street’s reaction, do you think now is a good time to add AutoZone to your watchlist?

AutoZone stock
Source: TD Ameritrade TOS

[Read More] 3 Hydrogen Stocks To Watch In September 2022

2. Apple (AAPL)

Next up, we have consumer tech giant Apple, Inc. (AAPL). This company needs little to no introduction for most, but if you are unfamiliar here’s a brief introduction. Apple is an American multinational technology company. The company designs develop and sell consumer electronics, computer software, and online services. Most notably, a few of Apple’s most popular products are items like the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the Apple Watch smartwatch, and many others.

Apple (AAPL) Recent Stock News

Earlier this month, Apple announced its new product line-up to investors. Specifically, the company announced it will be rolling out a new iPhone® 14 Pro and iPhone 14 Pro Max. In detail, this new iPhone will include additional features such as an Always-On display, and the first-ever 48MP camera on an iPhone, among others. In addition to that, Apple also announced they will be introducing the new Apple Watch® Series 8 and the new Apple Watch SE®.

Additionally, Greg Joswiak, Apple’s senior vice president of Worldwide Marketing, commented, “Our customers count on their iPhone every day, and with iPhone 14 Pro and iPhone 14 Pro Max, we’re delivering more advancements than any other iPhone. iPhone 14 Pro introduces a camera system that empowers every user — from the casual user to the professional — to take their best photos and video, and innovative new technologies like the Always-On display and the Dynamic Island, which offers new interactions for notifications and activities.

Continuing on, just on Tuesday Evercore ISI (NYSE: EVR) reported an outperform rating on Apple. As well as, the brokerage raised its price target on AAPL stock from $185 per share to $190 per share.

Apple (AAPL) Stock Chart

Meanwhile, year-to-date shares of Apple stock are down approximately 13.79% as of Tuesday’s lunchtime session at $156.77 per share. Given Apple’s track record and their new product lineup, is now a good time to add Apple stock to your long-term portfolio?

AAPL stock
Source: TD Ameritrade TOS

3. Norwegian Cruise Line Holdings (NCLH)

After that, let’s move toward cruise line company Norwegian Cruise Line Holdings (NCLH). In brief, Norwegian Cruise Line is the third-largest cruise company in terms of berths globally. For a sense of scale, the company has more than 62,000 berths and operates 29 ships. Moreover, Norwegian Cruise Line operates under three brands, which are Norwegian, Oceania, and Regent Seven Seas. As of May 2022, the company has announced they have redeployed its whole fleet. The company has redeployed its entire fleet as of May 2022.

Norwegian Cruise Line Holdings (NCLH) Recent Stock News

Last month, the company announced its Q2 2022 financial results. In detail, the company reported a second-quarter loss of $1.22 per share, with revenue of $1.2 billion. Meanwhile, analysts’ estimates for Q2 2022 were a loss of $0.87 per share and revenue of $1.3 billion. Additionally, the company closed out the 2nd quarter with $1.9 billion in cash equivalents. This signifies a significant improvement compared to pre-pandemic levels. In fact, NCLH reported a 27,079.1% revenue increase on a year-over-year basis.

Frank Del Rio, President & CEO of Norwegian Cruise Line Holdings said this about the quarter, “We are encouraged by the continued strong consumer demand we are experiencing which is reflected in our record pricing, accelerating booking volumes, especially for 2023 and beyond, and highest ever onboard revenue generation. Having emerged from the pandemic and returning to more normal operations, we remain steadfast in our strategy and commitment to protect our brands’ positioning and industry-leading pricing, which we firmly believe is the best way to maximize long-term value for all our stakeholders.

On Tuesday, the company received an upgrade from hold to buy from Truist Financial (NYSE: TFC). The brokerage raised its price target on NCLH stock from $18 to $19 per share, representing a 23.94% upside.

Norwegian Cruise Line Holdings (NCLH) Stock Chart

Since the start of 2022, NCLH stock has fallen by over 30% at $15.45 per share as of Tuesday afternoon’s trading session. However, over the last month of trading action, shares of Norwegian Cruise Line stock have recovered by approximately 23.11%. All in all, do you think now is a good time to invest in Norwegian Cruise Line Holdings?

NCLH stock
Source: TD Ameritrade TOS

[Read More] Stocks To Invest In Right Now? 3 Lithium Mining Stocks For Your List

4. Humana (HUM)

Last but not least, Humana Inc. (HUM) is one of the largest health insurance companies in the world. In detail, the company offers a variety of health plans, including individual and family plans, as well as Medicare and Medicaid plans. Humana also provides a wide range of other services, such as pharmacy benefits management, dental coverage, and vision care. For a sense of scale, Humana currently has over 20 million customers in the United States.

Humana (HUM) Recent Stock News

Last week Thursday, Humana announced mid-term adjusted earnings per share target of $37 in 2025. Meanwhile, the company also raised its full-year 2022 EPS outlook to approximately $25 per share at its most recent investor day. This would represent a 14% compounded yearly growth rate above Humana’s updated full-year 2022 EPS guidance.

What’s more, Bruce D. Broussard, Humana’s President and Chief Executive Officer at Humana had this to say in his release to shareholders, “We are confident in our ability to deliver compelling, sustainable earnings growth, both in the near and longer-term which will continue to drive shareholder value. Our strong competitive positioning and unique capabilities in the highly attractive individual Medicare Advantage market, coupled with the opportunity to scale and further integrate our CenterWell healthcare services capabilities, positions us for durable leadership in the value-based care industry.

On Tuesday, Morgan Stanley (NYSE: MS) upgraded HUM stock from equal weight to overweight. They also raised their price target from $494 per share to $549 per share.

Humana (HUM) Stock Chart

So far in 2022, Humana has outperformed the broader market as shares are up over 8% year-to-date. On Tuesday’s early afternoon trading session, HUM stock is trading up another 1% at $506.07 per share. With this update, will you be adding Humana stock to your list of stocks to watch today?

HUM stock
Source: TD Ameritrade TOS

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!!

The post Good Stocks To Invest In Now? 4 Blue Chip Stocks To Buy According To Analysts appeared first on Stock Market News, Quotes, Charts and Financial Information |

Read More

Continue Reading


NYC biotech LB Pharmaceuticals eyes $75M for new take on decades-old schizophrenia drug

As Karuna Therapeutics wraps up its FDA approval request for what could be the first new type of schizophrenia drug in decades, another East Coast biotech…



As Karuna Therapeutics wraps up its FDA approval request for what could be the first new type of schizophrenia drug in decades, another East Coast biotech is raising $75 million to test an adjusted version of a decades-old medicine for the disorder next year.

LB Pharmaceuticals has secured about $35 million so far and expects another $40 million in the round, according to an SEC filing on Thursday. Per the financial document, its board includes directors associated with Vida Ventures, Pontifax, Deep Track Capital and TCGX, a crossover firm that has invested in multiple nine-figure biotech financings in recent months, including Carmot Therapeutics, Alkeus and Upstream Bio.

LB declined to comment.

The New York City biotech plans to run a Phase II trial of a chemically differentiated form of amisulpride, a D2 and D3 antagonist that has been available in Europe and more than 50 countries for decades, according to an investor deck from June. Sanofi marketed it as Solian, which generated €135 million in sales in 2002 for the French Big Pharma. It’s since become available as a generic.

LB’s board includes Piero Poli, CEO of Swiss drugmaker Rivopharm, which produces generic amisulpride. In February 2020, Acacia Pharma secured FDA approval for an IV formulation of amisulpride in certain postoperative patients with nausea, marketing it as Barhemsys.

With its methylated version of amisulpride, LB says its oral asset LB-102 has the potential to be more effective at lower doses by improving blood-brain barrier permeability, per the investor deck. Its new chemical structure gives LB-102 IP protection until “at least 2037.” LB has positioned the drug as a blockbuster treatment that could generate $1 billion or more in annual sales, pointing to antipsychotic prescriptions in the EU with an average price of $2,000 per month.

The drug is set to go into Phase II testing in adults with acute schizophrenia in the first quarter of next year, per the June document.

The company expects to enroll about 350 people at 25 sites, testing whether three doses of the drug are better than placebo based on the commonly used schizophrenia clinical trial measure known as PANSS, or Positive and Negative Syndrome Scale. Karuna’s M1/M4-preferring muscarinic agonist KarXT has passed two Phase III trials that use that measure, leading to massive financing hauls for the biotech and Cerevel Therapeutics. Boston-based Karuna plans to submit its approval request to the FDA this quarter. Meanwhile, Sumitomo and Otsuka’s ulotaront failed a Phase III on the PANSS test two months ago.

LB expects the study to focus on in-patients for four weeks. Pending the mid-stage results, the company would likely then take LB-102 into multiple Phase III trials in 2025, with plans to submit an NDA in 2028, per the June presentation. The company sees schizophrenia as the first step, with potential for studies in depression, bipolar depression and other indications.

Zachary Prensky

The drug developer is led by a former family office manager, CEO Zachary Prensky. LB’s medical chief is Anna Eramo, who previously ran clinical and medical affairs at Lundbeck’s US operations and worked on the development of Rexulti, approved for schizophrenia and other indications. Science chief Andrew Vaino and chief financial officer Marc Panoff were previous executives at Retrophin.

Prensky co-founded LB with Vincent Grattan, a pharmacist who came across amisulpride in the 2000s while working on medication managements in multiple prisons. “As many are aware, correctional facilities are de facto mental health hospitals, and I wanted to make sure we were stocking the most reliable medications,” he told Psychiatric News in 2021.

Read More

Continue Reading


Dana-Farber, Brigham breakup could lead to a ripple effect for CGT clinical trials for cancer

Dana-Farber Cancer Institute announced on Sept. 14 that it is securing a new joint venture with Beth Israel Deaconess Medical Center, marking a breakup…



Dana-Farber Cancer Institute announced on Sept. 14 that it is securing a new joint venture with Beth Israel Deaconess Medical Center, marking a breakup of its decadeslong adult cancer care partnership with Brigham and Women’s Hospital.

The news shocked Brigham, which had been negotiating a partnership extension with Dana-Farber for the past 15 months, according to the Boston Globe.

There are around 20 ongoing cell therapy clinical trials under the Dana-Farber Brigham Cancer Center, which comprises 12 treatment centers with experts from Dana-Farber and Brigham working together. Brigham also has its own gene and cell therapy institute and a lab dedicated to next-generation, genetically-modified CAR-T cell therapies for cancer.

With the Dana-Farber contract set to end in 2028, concerns have been raised about the impact on current cell and gene therapy (CGT) studies and ones that are scheduled to start, due to the complex nature of the treatments involved.

Jason Foster

Manufacturing CGTs is a skill- and labor-intensive process. Ori Biotech CEO Jason Foster told Endpoints News that hospitals and research centers often work together to make them on-site for clinical trials, with highly skilled experts from the specialty centers playing a key role. UK-based Ori develops technologies that automates CGT manufacturing.

At Dana-Farber Brigham Cancer Center’s cellular therapies program, cells are processed at an outside commercial facility or at the Connell and O’Reilly Families Cell Manipulation Core Facility.

When such partnerships come to an end, “that kind of [specialist] knowledge loss is something that will impact both the trajectory of [CGT] trials, but also the time it takes to get these products to patients,” Foster added.

These potential negative impacts on trials would only compound preexisting barriers to access to CGTs, including high costs and lengthy manufacturing processes. Estimates suggest that 25% of patients die while waiting for CAR-T treatments, according to ASCO Post.

Lee Buckler

Lee Buckler, senior vice president of advanced therapies at Blood Centers of America, told Endpoints in an email that collaboration between research institutes and healthcare providers was of significant — if not critical — value to the testing of CGTs.

A Brigham spokesperson said that the hospital is one of the largest recipients of NIH funding and does not expect any changes to trials already under agreement, adding it would continue to be a leader in the CGT space. “We are also planning for a new, state of the art Brigham facility which will include the medical oncology specialty,” the spokesperson said.

Dana-Farber did not respond to Endpoints before deadline.

Problems with CGT trials could be both the cause and the effect of partnership breakdowns. Buckler said that general hospitals are often reluctant to facilitate the kinds of clinical trial protocols associated with innovative CGTs, which may drive research centers to align with partners more willing to prioritize them.

Under the new partnership with Beth Israel, Dana-Farber plans to create a free-standing state-of-the-art cancer hospital, which it said would have the flexibility to “incorporate the innovations and technology in cancer care that Dana-Farber’s and BIDMC’s researchers and clinicians are developing every day.”

Vered Caplan

But a dedicated cancer hospital is not necessarily better at carrying out CGT trials than a general hospital with a tightly-integrated cancer specialty.

“I’ve seen general hospitals with tremendous capabilities and specific hospitals with tremendous capabilities — it really depends on the particular hospital,” Orgenesis CEO Vered Caplan told Endpoints in an interview. Germantown, MD-headquartered Orgenesis rolls out CGT mobile processing units and labs for cancer treatment to hospitals.

Regardless, the breakup means Dana-Farber must convince patients that its program with Beth Israel will provide at least the same quality care as the Brigham partnership, while Brigham must rebuild its specialist capabilities without Dana-Farber expertise.

Read More

Continue Reading


Why are existing home prices up year over year?

Existing home prices are up 3.9% year over year, with demand near 21st-century lows. How is this possible?



Existing home prices are up 3.9% year over year, with demand near 21st-century lows. How is this possible? NAR‘s existing home sales report on Thursday gives us insight into the why factor.

The median existing-home price for all housing types in August was $407,100, an increase of 3.9% from August 2022 ($391,700). All four U.S. regions posted price increases.

The simple answer is the same one I have been giving for years, especially after the summer of 2020: We have too many people chasing too few homes. We broke to all-time lows in active listings data in the worst time possible — the years 2020-2024, when home-buying demographics were the best in U.S. history, and we all paid the price with massive home price gains in a short amount of time. 

The other difference in this housing cycle is that credit is very normal, meaning everyone has to qualify for a home loan these days, so sales have real potential to get hard with rising mortgage rates. This happened after March 2022 when rates spiked faster than any other time in recent history. But even with the biggest home sales crash ever, prices are still at all-time highs.

Ladies and gentlemen, this was the foundation core premise of the savagely unhealthy housing market: Home prices can escalate out of control in a low inventory environment, and even today, with demand low, we are still dealing with this issue in a lot of markets
From NAR:”Home sales have been stable for several months, neither rising nor falling in any meaningful way,” said NAR Chief Economist Lawrence Yun. “Mortgage rate changes will have a big impact over the short run, while job gains will have a steady, positive impact over the long run.

What else did we learn from today’s report?

Low housing comps for the rest of the year

On the surface, housing looks like it is improving as the year-over-year sales decline decreases and the home price data grows. However, that isn’t the true story; it’s only true when you compare it to the biggest sales collapse period ever, which happened in the second half of 2022. Also, pricing was weaker in the second half of 2022 as well. It wasn’t just the seasonal price weakness last year; we had prices falling monthly to accompany that sales collapse.

So, when you see the year-over-year data get better, remember this context.

Year-over-year, sales fell 15.3% (down from 4.77 million in August 2022).

Inventory still negative year over year

From NAR: Total housing inventory registered at the end of August was 1.1 million units, down 0.9% from July and 14.1% from one year ago (1.28 million). Unsold inventory sits at a 3.3-month supply at the current sales pace, identical to July and up from 3.2 months in August 2022. 

The housing inventory data has been negative year over year per the NAR data for the past few months. As we can see in the chart below, even with the biggest home sales crash in history for one year, inventory data has yet to return to the peaks we saw in 2007. Getting back to the four-decade average between 2-2.5 million has been a struggle.

As I have stressed time and time again, when you have normal credit channels, meaning the people who buy homes are in traditional 30-year fixed loans, the inventory channels will behave differently than they did in the years 2000-2007. Remember, people don’t sell to be homeless; they sell to obtain shelter most of the time.

Why are home prices rising year over year? Simply put, inventory is low, and demand isn’t collapsing like it did last year. With mortgage rates rising again and running into the seasonal soft period, we can see the percentage of price cuts increase with more weakness in demand.

However, with all the data we have now in 2023, we have a better guide to use it going out in the future, and this is why this weekend’s tracker will be very critical to talk about since mortgage rates are near 21st-century highs again.

Read More

Continue Reading