UAFRS vs As Reported Weekly Highlights - 2018 11 07
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for WYND, ARRY, and EPAM.Array BioPharma is engaged in the discovery, development and commercialization of targeted small molecule drugs to treat patients with cancer and other diseases. The company's commercial and clinical stage drugs include: BRAFTOVI + MEKTOVI, which are BRAF and MEK inhibitors for BRAF-mutant melanoma; Encorafenib, a BRAF inhibitor for BRAF-mutant colorectal cancer (CRC); Binimetinib, a MEK inhibitor for CRC and other cancers; Selumetinib, a MEK inhibitor for cancer and Neurofibromatosis type 1; Ganovo/Danoprevir, a protease inhibitor for Hepatitis C virus; Larotrectinib/LOXO-101, a PanTrk inhibitor for cancer; and ARRY-797, a p38 inhibitor for Lamin A/C-related dilated cardiomyopathy.
Epam Systems is a provider of software product development and digital platform engineering services to customers located around the world, primarily in North America, Europe, Asia and Australia. The company's industry services include financial services, travel and consumer, software and hi-tech, business information and media, life sciences and healthcare, as well as other industries.
Wyndham Destinations is a vacation ownership and exchange company. The company provides everyday travelers the opportunity to own, exchange or rent their vacation experience. The company's operations are grouped into two segments: Vacation Ownership, which is a timeshare business with resorts and owners that develops and markets vacation ownership interests (VOIs) to individual consumers, provide consumer financing in connection with the sale of VOIs, and provides property management services at resorts; and Vacation Exchange, which operates the vacation exchange network with members, and has relationships with vacation ownership resorts located in various countries and territories.
In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:
- GAAP and IFRS have failed to provide rules for reliable financial statement reporting
- Stock analyst recommendations are not grounded in disciplined financial analysis
- Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
- Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available
We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.
- Corporate credit ratings remain years behind the fundamental underpinnings of company performance
- Stock analysts continue to make recommendations with deeply inherent biases
- Research firms have failed to break down the walls between credit, equity, and macroeconomic research
- The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming
The integrity of Valens Research is founded in our disciplined processes and analytics. No “star” analysts. No corporate advisory relationships. No-nonsense opinions and recommendations.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.