Some of Wall Street's biggest upside calls are not sitting in the mega-cap names. They are hiding in small, volatile stocks with thin balance sheets, limited operating history and one big event ahead.
Twice as many advanced pancreas cancer patients who received an experimental drug developed by Actuate Therapeutics with chemotherapy were alive after one year as those treated with chemo alone, according to results of a mid-stage trial.
Actuate Therapeutics, Inc. (ACTU) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
The average of price targets set by Wall Street analysts indicates a potential upside of 214.1% in Actuate Therapeutics, Inc. (ACTU). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
This week was another slow week for pricings, with two companies making their public debut, along with three SPACs. On the filing side, offshore-focused drilling equipment and aftermarket service provider, HMH Holding, filed to raise $100 million. Three IPOs are currently scheduled to list in the week ahead, all based in the Asia Pacific region. One SPAC is also expected to price.
U.S. IPO Weekly Recap: August Kicks Off With One Small Pricing
A handful of IPOs priced this past week, led by three sizable names. One large issuer joined both the pipeline and the calendar - Chile-based LATAM Airlines Group. Six IPOs are scheduled to list in the week ahead and are set to raise a combined $5.1 billion, the most for any week so far this year. One SPAC is also set to debut.
Actuate Therapeutics, Inc. has filed for a $50 million IPO to raise funds for its treatments for pancreatic cancer and other cancer conditions. The global market for pancreatic cancer treatment is forecasted to reach $4.2 billion by 2025, driving the potential growth for Actuate Therapeutics. The company's lead program, elraglusib, has shown promising initial efficacy results in Phase 2 trials.