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Investors interested in stocks from the Medical - Drugs sector have probably already heard of Takeda Pharmaceutical Co. (TAK) and Stevanato Group (STVN). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits.
Currently, Takeda Pharmaceutical Co. has a Zacks Rank of #1 (Strong Buy), while Stevanato Group has a Zacks Rank of #4 (Sell). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that TAK is likely seeing its earnings outlook improve to a greater extent. But this is just one factor that value investors are interested in.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
TAK currently has a forward P/E ratio of 9.76, while STVN has a forward P/E of 38.35. We also note that TAK has a PEG ratio of 0.29. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. STVN currently has a PEG ratio of 5.50.
Another notable valuation metric for TAK is its P/B ratio of 0.94. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, STVN has a P/B of 4.65.
These are just a few of the metrics contributing to TAK's Value grade of A and STVN's Value grade of C.
TAK has seen stronger estimate revision activity and sports more attractive valuation metrics than STVN, so it seems like value investors will conclude that TAK is the superior option right now.
Zacks Investment Research
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.
Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.
One stock to keep an eye on is Takeda Pharmaceutical Co. (TAK). TAK is currently holding a Zacks Rank of #1 (Strong Buy) and a Value grade of A.
Another notable valuation metric for TAK is its P/B ratio of 0.94. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. TAK's current P/B looks attractive when compared to its industry's average P/B of 1.45. TAK's P/B has been as high as 1.04 and as low as 0.79, with a median of 0.91, over the past year.
Value investors also frequently use the P/S ratio. This metric is found by dividing a stock's price with the company's revenue. This is a prefered metric because revenue can't really be manipulated, so sales are often a truer performance indicator. TAK has a P/S ratio of 1.71. This compares to its industry's average P/S of 3.39.
Finally, investors will want to recognize that TAK has a P/CF ratio of 7.75. This metric focuses on a firm's operating cash flow and is often used to find stocks that are undervalued based on the strength of their cash outlook. This company's current P/CF looks solid when compared to its industry's average P/CF of 11.92. Over the past 52 weeks, TAK's P/CF has been as high as 7.95 and as low as 6.35, with a median of 7.01.
These figures are just a handful of the metrics value investors tend to look at, but they help show that Takeda Pharmaceutical Co. Is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, TAK feels like a great value stock at the moment.
Zacks Investment Research
Truist Securities initiated coverage on Protagonist Therapeutics Inc , citing its first-in-class lead asset with encouraging Phase 2 data in a rare form of blood cancer and a multi-billion dollar opportunity.
Protagonist Therapeutics’ lead assets, rusfertide and JNJ-2113, have shown promising clinical results across various trials, leading to partnerships with Takeda Pharmaceutical Co Ltd and Johnson & Johnson .
Truist models peak end user unadjusted sales of $2.8 billion vs. the consensus of $2 billion to rusfertide, which are reflected in ~$660 million adjusted peak revenues to Protagonist Therapeutics (profit-share in US + royalties ex-US).
The analyst has initiated with a Buy rating and a price target of $60. Talking about JNJ-2113, an oral IL-23, is a well-established pathway with four FDA-approved inhibitors for various conditions.
The analyst emphasizes that JNJ-2113 stands out as the only orally administered IL-23 inhibitor, offering a significant advantage over others in the field with improved dosing and administration.
Phase 2 trial data for psoriasis demonstrate improved efficacy compared to other oral treatments and IL-23 inhibitors like Johnson & Johnson’s Tremfya and Stelara, though cross-trial comparisons have limitations.
Truist highlights a significant unmet need in Inflammation & Immunology (I&I), particularly for an oral IL-23 treatment that could expand market opportunities and potentially lead to switching from other oral therapies with different mechanisms of action. Truist also sees potential for JNJ-2113 to be effective in additional indications.
The analyst models around $4 billion in peak unadjusted end-user sales for JNJ-2113 in psoriasis, reflected as ~$300 million in peak adjusted royalties to the company vs. the consensus of $320 million.
The analyst also sees a potential peak opportunity of $2.7 billion in ulcerative colitis but awaits data from the trial expected in the fourth quarter of 2024 before assigning any value.
Price Action: PTGX stock is up 0.83% at $44.96 at the last check on Tuesday.
Read Next:
Latest Ratings for PTGX
Date | Firm | Action | From | To |
---|---|---|---|---|
Feb 2022 | BTIG | Initiates Coverage On | Buy | |
Nov 2021 | JMP Securities | Maintains | Market Outperform | |
Oct 2021 | JMP Securities | Maintains | Market Outperform |
View More Analyst Ratings for PTGX
View the Latest Analyst Ratings
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