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GLOBAL WHOLEHEALTH PARTNERS CORP. (OTC – GWHP - $0.31)
12-18 Mo. Price Target: $11.20
GWHP develops, manufactures, and markets in vitro diagnostic (IVD) tests for OTC, or consumer-use as well as professional rapid diagnostic point-of-care (POC) test kits for hospitals, physicians' offices, and medical clinics in the US and abroad. The Company has the capacity to deliver hundreds of thousands of tests and can ramp up to 1 million tests per day. Currently, the Company has 56 products FDA approved and many are Approved for OTC use, and 9 POC products approved by the FDA.
Global WholeHealth Partners Corporation
GWHP recently filed an 8-K whereby it has been granted rights from Nunzia Pharmaceutical Inc. (OTC – NUNZ) to distribute and sell the single dose Johnson & Johnson COVID-19 vaccine. The 8-K can be accessed here: https://bit.ly/3vdiCzc.
In our view, this high-profile event substantially raises the Company’s status in the diagnostics space in general and the COVID-19 universe, in specific. The single dose nature of the vaccine has made this vaccine a popular choice in locales where dual doses are not a realistic option, which is a boon to GWHP, in our view.
A new study released last week by Nature noted that the JNJ vaccine has high levels of protection from COVID-19 variants---the biggest current driver of new global COVID-19 cases. This news could prompt a migration toward the JNJ vaccine in large global markets.
Separately, GWHP and AAJ have created an industry-leading set of diagnostics products for the Philippines and the surrounding Pacific Rim countries, where access to critical vaccines is low. The products to be delivered include the COVID-19 Antigen, COVID-19 Antibody, Dengue Fever, TB, Malaria, and Influenza A & B.
We have extended our $11.20 target to 12-18 months, which is based on a typical industry P/E multiple of 20x our 2022E EPS estimates. Given the strength of GWHP’s recent news, we believe these shares could return to the $1.50 mark by the end of summer, as JNJ sales commence.
Senior Analyst: Robert Goldman
Rob Goldman founded Goldman Small Cap Research in 2009 and has over 25 years of investment and company research experience as a senior research analyst and as a portfolio and mutual fund manager. During his tenure as a sell side analyst, Rob was a senior member of Piper Jaffray's Technology and Communications teams. Prior to joining Piper, Rob led Josephthal & Co.'s Washington-based Emerging Growth Research Group. In addition to his sell-side experience Rob served as Chief Investment Officer of a boutique investment management firm and Blue and White Investment Management, where he managed Small Cap Growth portfolios and The Blue and White Fund.
I, Robert Goldman, hereby certify that the view expressed in this research report accurately reflect my personal views about the subject securities and issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the recommendations or views expressed in this research report.
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