Wesana Health Holdings Inc
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Based in Canada
Company profile

Wesana Health Holdings Inc is a Canada-based life science company. The Company is engaged in development and delivery of psychedelic and naturally sourced therapies to treat traumatic brain Injury related depressive disorder, anxiety and migraines through drug development and predictive diagnostics. The Company is also engaged in care development through its therapies and patent-pending protocols, and in care delivery through activating a multidisciplinary, technology-supported clinical model. Its SANA-013 is a novel composition and method of use that provides sustained effects and benefit over time. The Company’s novel and proprietary depression treatment protocol that includes a single high dose of psilocybin followed by a maintenance regimen of a micro dose of psilocybin combined with cannabidiol, significantly reduced depressive behaviors in a validated animal model.

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These four chip stocks could double from here, according to Rosenblatt

7:33 am ET January 3, 2023 (MarketWatch)

By Emily Bary

Marvell and Nvidia among once-loved names that Rosenblatt sees as poised for big rebounds

An earlier version of this story cited the wrong firm for the picks. It has been corrected.

Once-hot chip stocks Nvidia Corp., Marvell Technology Inc., and Advanced Micro Devices Inc. each lost more than half their value over the course of 2022, but Rosenblatt analysts see them as well positioned for the new year.

Those three chip stocks cracked Rosenblatt's list of top picks for 2023, along with Micron Technology Inc. (MU) The chip names could all offer upside of at least 100%, based on Rosenblatt's latest price targets. Marvell and Nvidia are tied for Rosenblatt semiconductor analyst Hans Mosesmann's No. 1 pick.

"The re-emergence of silicon customization after 20 years of secular decline, the ASIC [application-specific integrated circuit] market has become a strategic thrust for both Broadcom and Marvell, and a skill set not available to other semi players in our lifetime," the Rosenblatt analysts wrote. Marvell (MRVL) gets the nod over Broadcom (AVGO) as it's "an easier play on infrastructure customization" and doesn't have the handset or enterprise software elements that Broadcom has.

Mosesmann has a $125 price target on Marvell's stock, which closed Friday just north of $34.

See also: Wall Street places more bets on chip sector's soft landing in 2023

The Rosenbaktt analysts liked Nvidia (NVDA) as it's "in a class by itself on [software] compiler, vertical market optimizations, and accelerator libraries that easily offset many of the [hardware] specs of new AI chip companies." Mosesmann has a $320 price target on the shares, which finished Friday's session near $146.

Next up is AMD (AMD), which remains a compelling share-gain story in the eyes of Mosesmann. His price target of $200 is well above AMD's roughly $65 Friday close.

"For years, we took incoming flak on the crazy notion that AMD (yes that AMD), could capture 10% market share," the analysts wrote. "The narrative has changed to AMD's favor; however there is skepticism on the 30% share level in x86 CPUs vs. Intel. We think 50% is coming and there is no reason why it cannot go much more than that."

Read: 'Fundamental bottom' is coming for chips, and this stock could be the biggest winner, analyst says

Mosesmann also said he liked Micron as a cyclical play. He acknowledged that inventories could peak in the first half of 2023, adding to pressure on average selling prices in the DRAM [dynamic random-access memory] market, but he predicted "a ripe 2H23 memory market for investors." Mosesmann has a $100 price target on Micron's stock, which closed Friday just shy of $50.

Other top picks at Rosenblatt outside the chip industry include Lions Gate Entertainment Corp. (LGFA), Ciena Corp. (CIEN), and Six Flags Entertainment Inc. (SIX)

-Emily Bary


(END) Dow Jones Newswires

January 03, 2023 07:33 ET (12:33 GMT)

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