The Orthocell Ltd (ASX: OCC) share price is rising today following news of a successful pilot animal study. The company states that as a result of the study, it’s seeking to fast-track US approval for its CelGro product.

The Orthocell share price is currently trading at 54 cents, up 4.85% from yesterday’s closing price.

Let’s take a closer look at the latest news released by the regenerative medicine company. 

Positive study results

Orthocell released the news today that the results of its pilot animal study indicate that CelGro facilitates nerve regeneration in a superior manner compared to current market-leading nerve repair devices. It was found to effectively regenerate nerves. In particular, it is able to restore an injured sciatic nerve to its former state.

As a result, Orthocell is looking to speed up the product’s approval in the US. Additionally, it seeks to establish a plan to receive the highest reimbursement value.

According to independent principal investigator, Dr Zoran Pletikosa at the University of Western Sydney, using CelGro to repair nerves resulted in no inflammation, scar tissue formation, or fibro-adhesions. After 4 weeks, the repaired nerve looked as though it had not been injured at all.

Further, it was stated that CelGro is easier to use in surgery than the current market-leading equivalent.

The company said the results from the animal study suggested that by restoring the damaged nerve, a patients’ return of upper arm and hand function is faster and more predictable.

Orthocell also expects to announce more data from its CelGro nerve regeneration human clinical study in the second quarter of 2021, focusing on the return of arm and hand function at 12 months post-treatment.

This data will guide the company’s approach to seeking regulatory approval from the Food and Drug Administration (FDA), US Medicare, Medicaid, private payers, and the Veteran’s Administration.

Commentary from management

Orthocell’s managing director Paul Anderson commented on the study’s results, saying:  

We are excited by the opportunity to provide patients access to this life changing treatment. Importantly, this evaluation of regulatory and reimbursement pathways position the Company towards a more attractive reimbursement value increasing the market opportunity.

Orthocell share price snapshot

The Orthocell share price is having a fantastic 2021 on the ASX, with today’s news bringing its latest boost.

Currently, the Orthocell share price is up 13% year to date. It’s also up 73% over the last 12 months.

The company has a market capitalisation of around $97 million, with approximately 189 million shares outstanding.  

More reading

• Why the Appen (ASX:APX) share price is racing 5% higher today
• GameStop, soon to be debt-free, adds $551 million to coffers
• St Barbara (ASX:SBM) share price craters 8% on production fall
• Why the Minbos Resources (ASX:MNB) share is rocketing 7% higher
• ASX 200 up 0.5%: Coles Q3 update, Westpac settles class action, JB Hi-Fi loses its CEO

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Appen Ltd (ASX: APX) share price has been a particularly positive performer on Wednesday.

The artificial intelligence data services company’s shares are up a sizeable 5% to $15.92 at the time of writing.

Why is the Appen share price racing higher?

Investors have been buying Appen’s shares following the release of a broker note out of Macquarie Group Ltd (ASX: MQG) this morning.

According to the note, the broker has upgraded its shares from an underperform rating to neutral. Macquarie has, however, held firm with its price target of $16.00.

Its analysts made the move following a sharp decline in the Appen share price since they downgraded it to underperform in the middle of February.

Macquarie notes that the Appen share price had lost approximately a third of its value since that point, prior to today.

What else did Macquarie say?

Although Macquarie has upgraded its shares on valuation grounds, it has warned investors not to get too excited.

While it acknowledges that Appen has a strong position in the market, which gives it some pricing power, it does have concerns that price competition could potentially lead to larger than expected earnings downgrades in the future.

The broker has warned that this may not be fully priced into current valuations.

Bullish broker

Macquarie may not be overly bullish, but one broker appears to be.

A note out of Citi from earlier this month reveals that its analysts have retained their buy rating and $30.90 price target on the company’s shares.

Based on the current Appen share price, this implies ~94% upside over the next 12 months.

It has been looking at industry developments and believes they are pointing to solid growth in the artificial intelligence training data industry.

Though, it does acknowledge that with many of its competitors raising funds, Appen may need to increase its investment in product development to stay ahead of the pack.

More reading

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Appen Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

GameStop (NYSE: GME) is clearing the decks in preparation for its transformation into an online-oriented video game supercenter.

Having recently announced it will retire all of its outstanding debt at the end of the month, it now says it added $551 million to its bank account by selling 3.5 million shares through an at-the-market (ATM) equity offering.

Coupled with the half-billion dollars it said it ended the first quarter with last month, that should give GameStop all the financial wherewithal it needs to achieve its plan for future growth.

Earlier this month, GameStop increased the size of its ATM offering in preparation for the sale, and apparently found eager buyers for the stock. The amount of the gross proceeds reported suggests an average purchase price of around $157.43 per share.

Almost all top executives of the company, including CEO George Sherman, who will be leaving at the end of July, have either resigned or been ousted. Also, almost the entire board of directors announced it wouldn’t stand for reelection at the company’s annual shareholder’s meeting.

That gives activist investor Ryan Cohen, who was recently appointed board chairman, complete control of the company and where it heads in the future.

Cohen has said he wants GameStop to keep only its most profitable retail locations as it becomes a consumer-focused e-commerce company that is the Amazon of video games. With no debt on its balance sheet and around $1 billion in cash, any failure by GameStop to transform itself won’t be because of any financial roadblocks.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

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• GameStop looks to become debt-free with early debt retirement plan
• Tesla and Palantir were some of the most popular US shares last week
• Better buy: Amazon vs. GameStop

Rich Duprey has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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St Barbara Ltd (ASX: SBM) shares have lost their shine today after the gold miner released its third-quarter report to the market.

At the time of writing, the St Barbara share price is down 8.13% to $1.865. So, what was in the report that has sent investors scrambling?

What’s impacting the St Barbara share price?

Unfortunately for St Barbara shareholders, the finance side of things was the complete opposite of what investors hope to see. Typically, the desire is for production to increase and costs to fall – which means profits grow.

But the St Barbara share price is suffering today after the company showed a fall in production. Specifically, gold production drifted 8.2% lower to 82,303 ounces compared to the previous quarter. Adding to the margin compression, all-in sustaining costs (AISC) climbed 8.7% to $1,649 per ounce.

The result is a reflection of further deterioration in the COVID-19 situation in Papua New Guinea. Sadly, a significant increase in community transmissions occurred during the quarter. St Barbara stated that this affected a number of employees and community members.

Furthermore, gold sales fell 28.3% to 71,329 ounces compared to the December quarter. Although, on a positive note, the average realised gold price increased 5.7% to $2,247 per ounce.

Looking ahead

To alleviate future production issues, St Barbara continues to progress with its “Building Brilliance Program”. The program aims to improve operations and deliver brownfield expansion projects.

As part of ‘Uplift 1’ of the program, the company has been focusing on debottlenecking operations to achieve improved production at a reduced cost – exactly what shareholders would be looking for, given today’s results.

Additionally, ‘Uplift 2’ entails St Barbara pursuing increased production from its Leonora Province site.

CEO offers glimmers of hope

St Barbara managing director and CEO Mr Craig Jetson commented on the results, saying:

The business performance during the month of March, across all three operations, reflects this positive improvement. Since Building Brilliance was launched in September 2020, it has delivered significant operational efficiencies and cost reductions. Of the targeted A$30 to A$40 million annualised cash contribution benefit for FY21, A$18 million has been achieved as at the end of March 2021. Many of the production related improvements were realised in the latter part of the March quarter, including a record milling month and improved gold recovery at Atlantic, and ‘filling the mill’ at Leonora.

Importantly, St Barbara is not alone in its share price selloff today. Other gold miners including Northern Star Resources Ltd (ASX: NST) and Evolution Mining Ltd (ASX: EVN) are also tumbling lower. These moves come following a fall in the spot gold price overnight. 

More reading

• What’s with the St Barbara (ASX:SBM) share price today?
• 5 things to watch on the ASX 200 on Friday
• ASX 200 shares thrown in the bargain bin: Here’s 3 ideas
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Minbos Resources Ltd (ASX: MNB) share price has been on fire on Wednesday. Shares in the Aussie phosphate miner rocketed higher in early trade and remain up more than 10% at the time of writing.

Why is the Minbos Resources share price surging?

The big news this morning was Minbos releasing its latest quarterly cash flow and activities reports to the market. Minbos reported net operating cash outflows of $483,000 but positive quarterly net cash flow thanks to $6.6 million in net equity raise proceeds.

March quarter highlights included:

• Execution of the Mineral Investment Contract (MIC) for exploration and feasibility studies to produce phosphate rock by Minbos within the Cabinda Phosphate Project area;
• Adoption of global standards for Environmental, Social and Governance (ESG) reporting;
• Recommencement of field trials in Angola and greenhouse experiments in the USA; and
• A $7.3 million placement to fund its Definitive Feasibility Study and accelerate the Cabinda Phosphate Project initiatives.

The Minbos Resources share price has shot higher on the back of this morning’s update. The execution of the MIC is a big step forward for Aussie mining which formalises the company’s engagement with Government Ministries and the Province of Cabinda in Angola.

Angola’s Ministry of Mineral Resources, Petroleum and Gas approved Minbos’ Mining Licence in March 2021. That licence is renewable for up to 35 years for phosphate mining from the Cacata Deposit.

Minbos has engaged impact monitoring technology platform Socialsuite to help measure outcomes against its new ESG framework and reporting process.

The coronavirus pandemic has impacted Minbos alongside many global miners. However, the company said it is still in the process of gaining exemptions to ongoing Angola restrictions which may impact previous development timelines.

The $7.3 million placement was completed in mid-February and was oversubscribed. The Minbos Resources share price jumped higher following that placement which issued 91.25 million fully paid ordinary shares.

Foolish takeaway

The Minbos Resources share price has shot more than 10% higher today after this morning’s quarterly update. Progress with government licences, ESG compliance and a strong financial position have helped propel the company’s shares higher.

More reading

• ASX 200 up 0.5%: Coles Q3 update, Westpac settles class action, JB Hi-Fi loses its CEO
• Top brokers name 3 ASX shares to buy today
• Amazon to roll out Prime in-garage grocery delivery nationwide
• Openpay (ASX:OPY) share price slides despite positive quarterly update
• Why the Respiri (ASX:RSH) share price shot 18% higher today

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is back on form and storming higher. The benchmark index is currently up 0.5% to 7,072.3 points.

Here’s what is happening on the market today:

Westpac settles class action

The Westpac Banking Corp (ASX: WBC) share price is pushing higher today after releasing an update on a class action. According to the release, Westpac has settled a class action relating to premiums paid for certain insurance policies taken out with Westpac Life Insurance Services between 2011 and 2017. The banking giant advised that the settlement is capped at $30 million and remains subject to approval by the Federal Court of Australia. It stressed that it has resolved the matter without any admission of liability.

Coles third quarter update

The Coles Group Ltd (ASX: COL) share price is rising today following the release of its third quarter update. For the three months ended 31 March, Coles recorded total sales of $8,758 million. While this was down 5.1% from the prior corresponding period, it was up 7.2% from the same period in FY 2019. Panic buying in the prior corresponding period boosted its sales materially. Positively, supermarket sales are up 4% during the first four weeks of the fourth quarter.

Premier Investments poaches JB Hi-Fi CEO

The Premier Investments Limited (ASX: PMV) share price is charging higher after announcing the appointment of its new Premier Retail CEO. According to the release, the company has poached Richard Murray from retail giant JB Hi-Fi Limited (ASX: JBH). Mr Murray is currently Group CEO of JB Hi-Fi and has over 25 years’ experience in retail and finance.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Downer EDI Limited (ASX: DOW) share price with a 5.5% gain. This follows the announcement of a major share buyback plan. The worst performer has been the De Grey Mining Limited (ASX: DEG) share price with a 7% decline. This is despite there being no news out of the gold explorer.

More reading

• Top brokers name 3 ASX shares to buy today
• Premier Investments (ASX:PMV) share price higher on CEO appointment
• Record high iron ore price puts these ASX shares in the spotlight this morning
• Here’s why the JB Hi-Fi (ASX:JBH) share price will be in the spotlight today
• Coles (ASX:COL) share price in focus after Q3 sales update

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Temple & Webster Group Ltd (ASX: TPW)

According to a note out of Credit Suisse, its analysts have initiated coverage on this online furniture and homewares retailer’s shares with an outperform rating and $12.54 price target. The broker believes the company is well-positioned in a large and growing furniture and homewares market which is shifting online. Credit Suisse sees scope for 13% of industry sales to be made online by FY 2025. This puts Temple & Webster in a position to grow its sales at a rapid rate over the coming years. The Temple & Webster share price is fetching $10.71 this morning.

Universal Store Holdings Ltd (ASX: UNI)

A note out of Morgans reveals that its analysts have retained their add rating and $8.37 price target on this fashion retailer’s shares. This follows the release of its third quarter update. Morgans was happy with Universal Store’s sales growth, which came in almost 40% higher than the prior corresponding period. As a result of this update, the broker continues to believe the company is well-placed to grow at a strong rate over the coming years. The Universal Store share price is trading at $7.80 on Wednesday.

Westpac Banking Corp (ASX: WBC)

Another note out of Morgans reveals that its analysts have retained their add rating and $28.50 price target on this banking giant’s shares. This follows Westpac’s announcement of notable items that will be included in its first half results next month. While Morgans has downgraded its earnings forecasts for FY 2021 slightly to reflect this, it remains positive on the bank due to improving trading conditions in the sector. It also notes the positive outlook for asset quality, dividends and capital management. The Westpac share price is fetching $25.18 on Wednesday morning.

More reading

• Brokers name 3 ASX shares to buy now
• ASX bank shares best placed to ride the $1bn+ provisioning profit boost this reporting season
• Why the Universal Store (ASX:UNI) share price is up 8% to a record high
• 3 exciting small cap ASX shares for your watchlist
• 3 reasons why the Temple & Webster (ASX:TPW) share price could be a buy

James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Amazon (NASDAQ: AMZN) is expanding its in-garage delivery program for Prime members nationwide to wherever it currently offers grocery delivery.

Originally tested in just five cities last November, Amazon says the program will now be available in over 5,000 cities, making millions of Prime members eligible to use the service.

Grocery delivery was a growing phenomenon prior to last year’s COVID-19 outbreak, but the global pandemic made the service a literal lifesaver for many who could not or would not go into public during the lockdowns.

Still, letting a person into your home to deliver groceries when you’re not home requires a willing suspension of distrust. Walmart (NYSE: WMT) said it wanted to conquer the last 15 feet of delivery by offering an in-refrigerator grocery put-away service, but in-garage delivery seems arguably a superior option as it doesn’t require giving permission into the inner sanctum of the home.

Prime members who use the service must have a myQ Smart Garage compatible door opener. According to the manufacturer Chamberlain Group, most garage door opener brands made after 1993 are compatible.

The myQ app is then linked with Key by Amazon. When ordering groceries, the customer chooses the Key Delivery option at checkout. Customers can be notified when the delivery is occurring and if they have a home security camera, can watch the delivery being made.

A Morning Consult survey Amazon commissioned found convenience was the main benefit consumers associated with grocery delivery; 70% of respondents said they preferred it to making a trip to the supermarket. Some 77% said saving time was a key consideration, too.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• Why I sold (some of) my Amazon stock
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• Growing pains, or something worse, for Kogan?
• Should grocery companies be worried about Amazon fresh?
• Amazon Prime adoption accelerated in 2020

Rich Duprey has no position in any of the stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Amazon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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The struggling Openpay share price is looking to make up for lost ground after announcing a positive third-quarter update. 

Leading buy now pay later (BNPL) rivals such as Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) have likely stolen the spotlight with dual listing plans and continued international expansion. The Openpay Group Ltd (ASX: OPY) share price has been left behind, stumbling 10% year-to-date to an 11-month low last week.

The company has approached this quarter with a sense of gravity, saying:

Openpay continues to move with urgency to capture market opportunity and disrupt major payments markets with its highly relevant and transparent offering for merchants and consumers.

But will this be enough to please the market? 

Third-quarter highlights 

Openpay delivered an uplift across leading indicators in the third quarter following a very strong second quarter.

The company’s total transaction value (TTV) increased 80% on the prior corresponding period (pcp) to $83 million. Its revenue had also increased 24% against the pcp to $6.6 million. Additionally, with an improved revenue yield of 7.8% from the 7.5% in 2Q21. 

The number of active plans increased to 1.7 million. This is up 185% on the prior corresponding period and up 19% quarter-on-quarter (QoQ). Its active customers doubled from a year ago to 505,000 and up 10% QoQ. Given the priority placed on the UK market, half the company’s customer base now comes from the UK. 

Openpay continues to drive merchant sign-ups. In particular, with active merchants up 70% on the pcp and an impressive 24% QoQ to 3,400. In Australia, key agreements were signed with leading brands such as Officeworks and Ford. Additionally, Openpay entered the hospital sector with St John of God Health Care. 

To add some perspective, rivals Zip delivered a 12% QoQ improvement in customers and an 18% increase in merchants in its third quarter update two weeks ago. Its shares surged some 15% on the day of the announcement but has since lost the entirety of its gains.

On the flip side, Splitit Ltd (ASX: SPT) recorded a slight quarter on quarter decline in revenues, falling from US$2.9 million to US$2.7 million in its first-quarter update. Its shares slipped 5% on the day.

Overall, it looks like the market has shrugged off the company’s achievements. At the time of writing, the Openpay share price down 1.88% to $2.09.

What will drive the Openpay share price? 

The Openpay share price is eyeing a number of growth initiatives to drive shareholder value and revenue growth. 

Openpay entered the US$55.8 billion US and UK healthcare channel in March. This was in partnership with cloud-based veterinary Practice Management Software platform, ezyVet. 

The company believes there is a significant market opportunity in the US to carve out its niche in higher-value, longer-term plans. By servicing strategy target verticals such as healthcare, home improvement, and education, Openpay believes it can address the current gaps in the BNPL market in the US. 

With the lack of share price traction for smaller BNPL shares, Openpay will need to put its best foot forward to get out of its recent slump. 

More reading

• Affirm shares are surging, why is the Afterpay (ASX:APT) share price left behind?
• ASX 200 falls, BHP rises, Afterpay sinks
• Why has the Zip (ASX:Z1P) share price plunged 6% today?
• Province Resources and Zip were among the most traded ASX shares last week
• ASX 200 down 0.5%: Bingo & Tabcorp takeovers, BlueScope upgrades guidance

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Respiri Ltd Fully Paid Ord. Shrs (ASX: RSH) share price has rocketed 18.2% higher at the market open after an update from the Aussie medical device company.

Why is the Respiri share price on the charge?

Respiri this morning announced a new agreement with TerryWhite Chemmart. The agreement will see TerryWhite Chemmart stores sell and market wheezo, commencing immediately.

wheezo is Respiri’s medical device that records breathing sounds and detects and analyses wheeze. The innovative device helps to identify and manage symptoms associated with asthma.

TerryWhite Chemmart is Australia’s largest pharmacy network with over 450 community pharmacies. The Respiri share price rocketed 18.2% at Wednesday’s open as investors reacted well to the new deal.

Respiri CEO and Managing Director, Mr Marjan Mikel, said, “Respiri continues to grow wheezo product availability in the pharmacy channel as we recognise the important role that pharmacies play with supporting asthma management and care”.

“This agreement with Terry White Chemmart takes the number of pharmacies contracted to stock and sell wheezo to approximately 1,000 stores”, he added. That represents an “implied market footprint” of 22% based on the total number of ex-hospital community pharmacies in Australia.

The Respiri share price has once again surged higher this morning on the back of the news. At the time of writing, the Aussie medical device company’s shares were up 18.2% for the day and 85.7% in the last 12 months.

Respiri said it remains in active discussions with several other large pharmacy banner groups. Further ASX announcements are expected once those discussions are finalised and initial orders have commenced.

Foolish takeaway

The Respiri share price has rocketed higher today after a new partnership announcement. The deal with TerryWhite Chemmart will expand its network of pharmacies selling the proprietary wheezo device across Australia.

That’s been enough for shareholders to snap up the Aussie healthcare share in one of the day’s early strong performers.

More reading

• Alcidion (ASX:ALC) share price slumps despite ‘strong growth’
• BrainChip (ASX:BRN) share price rises on first quarter update
• Why the Race Oncology (ASX:RAC) share price is racing higher
• Life360 (ASX:360) share price climbs on ‘accelerating growth’
• Here’s why the Ansell (ASX:ANN) share price is surging 5% higher today

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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