Core Insights - Omada Health's GLP-1 companion program significantly enhances medication persistence rates for GLP-1 medications, leading to improved weight loss outcomes comparable to clinical trials [1][2][4] Group 1: Medication Persistence and Weight Loss - Omada's analysis of 1,124 members showed that those who adhered to their GLP-1 medication for 24 weeks had a persistence rate of 84%, compared to lower rates in previous studies [2][4] - Members who maintained their medication lost an average of 12.1% of their body weight over 24 weeks, while those who discontinued early lost only 7.4%, indicating a 64% relative increase in weight loss for persistent users [2][4] Group 2: Support and Resources - The Enhanced GLP-1 Care Track provides targeted resources, including education on dose titration, side effects, nutrition guidance, and exercise support, to help members overcome barriers to medication persistence [3][4] - Omada aims to ensure that increased access to GLP-1 medications translates into sustainable long-term health benefits through enhanced support and engagement in healthy lifestyle changes [4][5] Group 3: Company Overview and Impact - Omada Health is a virtual-first healthcare provider focused on chronic disease management, with over a decade of experience and 29 peer-reviewed publications demonstrating its clinical and economic effectiveness [5][6] - The company serves more than 2,000 customers, including health plans and employers, and emphasizes a strong work culture, earning recognition as a Great Place to Work® [5][6]

Core Viewpoint - Global Partners (GLP) is positioned as an attractive investment opportunity amid rising crude oil prices due to geopolitical tensions and supply disruptions [1][2]. Group 1: Market Context - Escalating tensions in the Middle East, particularly between Israel and Iran, have raised concerns about oil supply disruptions, as Iran is a significant oil producer [2]. - Wildfires in Canada have led to a reduction of approximately 350,000 barrels of oil production per day [2]. - OPEC has been unable to reach an agreement to increase global oil output, contributing to the current market dynamics [2]. - WTI crude prices have increased by 15% over the last month, surpassing $70 per barrel, despite a slight dip of over 1% on Monday [2]. Group 2: Company Performance - Global Partners operates a vast network of liquid energy terminals from Maine to Florida, facilitating the storage and distribution of various petroleum products [4]. - The company has achieved a total return of +23% in 2025, outperforming the broader market and its peers in the oil refining and marketing sector [5]. - GLP's total sales are projected to increase by 37% in fiscal 2025, reaching $23.55 billion, up from $17.16 billion the previous year [10]. - Annual earnings per share (EPS) are expected to rise by 18% this year and an additional 6% in FY26, reaching $3.03 per share [11]. Group 3: Dividend and Distribution - Global Partners, as a Master Limited Partnership (MLP), benefits from a tax structure that allows it to pass income directly to shareholders, making it appealing to income investors [8]. - The company currently has a payout ratio of 94%, with an annual distribution yield of 5.8% [9]. - GLP has increased its dividend 17 times in the last five years, resulting in an annual growth rate of nearly 11% during this period [9][10]. Group 4: Investment Outlook - The stock is currently rated as a Zacks Rank 1 (Strong Buy), indicating strong investor interest [12]. - The reasonable forward earnings multiple of 19.5X suggests potential for further price appreciation as crude prices rise [12].

Company Overview - Global Partners operates approximately 1,700 fueling stations[14] - The company has 54 liquid energy terminals with approximately 21.9 million barrels of storage capacity[14] - The company owns or controls 786 retail sites, approximately 48% of the 1,561 supplied locations[42] Financial Performance (Q1 2025 vs Q1 2024) - Product margin increased to $288.6 million from $244.1 million[63] - Net income improved to $18.7 million from a loss of $5.6 million[63] - EBITDA increased to $91.9 million from $56.9 million[63] - Adjusted EBITDA increased to $91.1 million from $56.0 million[63] - Distributable Cash Flow (DCF) increased to $45.7 million from $15.8 million[63] - Adjusted DCF increased to $46.4 million from $16.0 million[63] Strategic Initiatives - The company is expanding into the Houston market through a joint venture, targeting a population of approximately 7 million residents[48, 50] - The company is focused on expanding EV charging access across retail locations[30]

Core Insights - iBio has nominated IBIO-610 as a development candidate for its first-in-class Activin E antibody, focusing on its potential in treating obesity and related conditions [1][4] - The company is initiating a non-human primate (NHP) study to evaluate the pharmacokinetics and early efficacy signs of IBIO-610, particularly its impact on fat reduction and body composition [1][2] - Preclinical studies have shown promising results, including an 8.9% overall body weight loss in obese mice and a 26% reduction in fat, with enhanced effects when combined with GLP-1 therapy [2][3] Preclinical Study Results - In diet-induced obese (DIO) mice, IBIO-610 demonstrated a 77% increase in fat-selective weight loss when used alongside GLP-1 therapy [2] - Additional findings indicate a 31% reduction in subcutaneous fat, which increased to 74% when combined with a GLP-1 receptor agonist [3] - The ability of IBIO-610 to prevent weight regain after GLP-1 therapy discontinuation is highlighted as a significant advantage, addressing a common issue in obesity treatment [3] Upcoming Events - iBio will present additional preclinical data at the American Diabetes Association's 85th Scientific Sessions from June 20-23, with a specific poster presentation scheduled for June 23 [3][5] - The poster will focus on the Activin E-blocking antibody's potential for treating metabolic diseases [5] Company Overview - iBio, Inc. is a biotech company leveraging AI and advanced computational biology to develop biopharmaceuticals targeting cardiometabolic diseases, including obesity [6] - The company aims to transform drug discovery and accelerate development timelines through innovative drug discovery platforms [6]

Core Insights - Lexaria Bioscience Corp. has successfully completed a human study comparing oral DehydraTECH-liraglutide to injected Saxenda®-branded liraglutide, with partial results now available [1][8] - The study demonstrated a 22.7% reduction in adverse events (AEs) for oral DehydraTECH-liraglutide compared to Saxenda®, with significant reductions in nausea (67%) and gastrointestinal AEs (31%) [3][4] - Lexaria is seeking a pharmaceutical partner to develop an FDA-registered oral alternative to current injectable GLP-1 drugs, addressing an unmet market need [2][10] Study Details - The study involved 10 overweight volunteers, comparing daily doses of Saxenda® (0.6 mg) and DehydraTECH-liraglutide (45 mg) over a 7-day period [13] - The primary endpoint was the evaluation of safety and tolerability, with secondary objectives including pharmacokinetics and effects on body weight, blood glucose, and insulin levels [16] - Weight loss was observed in 9 out of 10 participants in both study arms, although it was not the primary goal of the study [5] Technology and Market Context - DehydraTECH is a patented drug delivery technology that enhances bio-absorption and reduces side effects, with 48 patents granted and more pending [17] - The study's results suggest that DehydraTECH-liraglutide could provide a viable oral alternative to Saxenda® and other injectable liraglutide products, which generated significant revenue for Novo Nordisk [12] - Lexaria's approach may allow for an expedited FDA regulatory pathway under the 505(b)(2) application, contingent on demonstrating comparable performance to existing injectable versions [6][10]

Core Viewpoint - Novo Nordisk and Viking Therapeutics are significant players in the obesity treatment market, with Novo Nordisk being a market leader and Viking Therapeutics showing potential as a biotech disruptor [1][2][3]. Group 1: Novo Nordisk (NVO) - Novo Nordisk holds a 54% value market share in the GLP-1 segment as of Q1 2025, making it a leader in the diabetes and obesity treatment market [4]. - Wegovy, a key product for Novo Nordisk, saw an 83% revenue increase in Q1 2025 due to strong prescription growth, contributing positively to overall revenues alongside Ozempic [5]. - The acquisition of CDMO Catalent in late 2024 has enhanced Novo Nordisk's production capacity, resolving the shortage of semaglutide products [6]. - CVS Caremark has designated Wegovy as its preferred GLP-1 therapy for weight loss, effective July 1, which may provide a commercial advantage [7]. - Novo Nordisk is exploring new indications for semaglutide, potentially expanding its patient population and boosting sales [8]. - The company faces competition from Eli Lilly, which markets its own obesity treatments, posing a threat to Novo Nordisk's market share [9]. - NVO's stock has faced pressure due to disappointing data from late-stage studies for its next-generation obesity candidate, CagriSema [10]. Group 2: Viking Therapeutics (VKTX) - Viking Therapeutics is a clinical-stage biotech firm with its investigational drug VK2735 showing blockbuster potential for obesity treatment [2][11]. - The company is conducting a phase II study on the oral formulation of VK2735, with data expected in H2 2025, and plans to start a late-stage study on the subcutaneous version in Q2 2025 [12]. - Viking is expanding its obesity pipeline and plans to file for an investigational new drug application for a novel obesity treatment later this year [13]. - The company is also exploring partnerships for its pipeline candidates, which could provide additional funding [14]. - VKTX is expected to experience a 120% widening of loss per share in 2025 due to the lack of marketed products [16]. Group 3: Financial Estimates and Valuation - The Zacks Consensus Estimate for Novo Nordisk's 2025 sales and EPS indicates a year-over-year increase of approximately 14% and 17%, respectively [15]. - In contrast, VKTX's loss estimates for 2025 and 2026 have widened over the past 60 days [16]. - Year-to-date, NVO shares have declined by about 22%, while VKTX shares have dropped by 33%, compared to a 6% decline in the industry [18]. - Novo Nordisk's shares trade at a price/book (P/B) ratio of 15.46, significantly higher than VKTX's 3.58, indicating a more expensive valuation for NVO [19]. Group 4: Investment Considerations - Both companies hold a Zacks Rank 3 (Hold), making it challenging to choose one over the other [23]. - Novo Nordisk is characterized as a financially robust, dividend-paying blue-chip stock with strong revenue growth driven by demand for its products [23]. - Viking Therapeutics faces challenges due to its lack of marketed drugs and competition from established pharmaceutical companies, making NVO a safer investment choice despite its higher valuation [24].

Core Viewpoint - Pepsi was once regarded as a top consumer staple due to its consistent dividend growth over 50 years and strong share performance, but recent developments may indicate a shift in its market position [1] Financial Performance - Pepsi has maintained a growing dividend for 50 consecutive years, highlighting its commitment to returning value to shareholders [1] - The company's share price performance has been strong historically, contributing to its reputation as a reliable investment [1] Market Position - The perception of Pepsi as a leading consumer staple has changed over the past two years, suggesting potential challenges in its market standing [1]

Core Viewpoint - The Zacks Oil and Gas - Refining & Marketing MLP industry is facing significant challenges due to inflation, economic slowdowns, and lower commodity prices, which are compressing margins and affecting earnings estimates for 2025 and 2026. However, some midstream firms with fee-based models and diversified infrastructure are showing resilience and have outperformed the broader market over the past year [1][10]. Industry Overview - Master limited partnerships (MLPs) operate differently from regular stocks, with unitholders being partners in the business. These entities combine the tax benefits of limited partnerships with the liquidity of publicly traded securities, typically focusing on oil and natural gas pipelines and storage facilities [2]. Trends Impacting the Industry - Economic slowdowns and inflation risks are significant concerns, as they can impact volumes and profit margins for refining and marketing MLPs. A global economic slowdown could lead to reduced fuel consumption, further tightening margins [3]. - Midstream operators are demonstrating resilience through integrated, fee-based business models, which provide stable earnings despite global price fluctuations and seasonal disruptions [4]. - Lower commodity prices and uncertainties around tariffs, particularly on steel, could exert pressure on margins, potentially affecting customer drilling programs and long-term forecasts [5]. Industry Ranking and Outlook - The Zacks Oil and Gas - Refining & Marketing MLP industry currently holds a Zacks Industry Rank of 166, placing it in the bottom 33% of 246 Zacks industries, indicating a bearish outlook [6][8]. - Earnings estimates for the industry have declined, with a 7.5% decrease for 2025 and a 2.3% decrease for 2026 over the past year, reflecting a negative sentiment among analysts [9]. Performance Metrics - The industry has outperformed both the broader Zacks Oil - Energy Sector and the S&P 500 over the past year, gaining 24.9% compared to a 6.5% decrease in the sector and an 11.2% increase in the S&P 500 [10]. - The current valuation of the industry, based on the trailing 12-month EV/EBITDA ratio, is 10.83X, significantly lower than the S&P 500's 16.60X, indicating a reasonable valuation relative to the broader market [13]. Notable Companies - **Global Partners LP**: A midstream logistics and fuel marketing firm with a strong terminal network and retail presence. It has a projected 17.8% year-over-year earnings per unit growth for 2025 and offers a 5.9% yield [15][16]. - **Targa Resources**: A leading midstream player specializing in natural gas services, with a projected 39.2% earnings per share growth for 2025. It has recently increased its dividend by 33% year-over-year [18][19]. - **Sunoco LP**: A major distributor of motor fuels with a projected 21% earnings per unit growth for 2025. It offers a 6.3% yield and is expanding through strategic acquisitions [21][22].

Industry Overview - Energy stocks are gaining strength as macro conditions improve and demand drivers increase, with recession fears easing and tariff negotiations progressing [1] - The global buildout of data centers is expected to significantly increase electricity demand, benefiting utilities, natural gas providers, and midstream energy firms [2] Crude Oil Market - Crude oil prices have shown technical strength, indicating a potential bottom, with recent price action suggesting a bullish reversal pattern [5][6] - A key resistance level has emerged near $64, and a breakout above this level could lead to a sustained move towards $70 [7] Company Highlights - **National Fuel Gas (NFG)**: - Vertically integrated natural gas company with a diverse business model, benefiting from multiple points along the energy value chain [8] - Currently holds a Zacks Rank 2 (Buy) with upward earnings revisions indicating analyst confidence [9] - Shares trade at 11.7x forward earnings, below the 10-year median of 14x and the industry average of 16.8x, with projected earnings growth of 20.4% annually over the next three to five years, resulting in a PEG ratio of 0.58 [10] - **Epsilon Energy (EPSN)**: - Small-cap natural gas exploration and production company focused on the Appalachian Basin, emphasizing capital efficiency and shareholder returns [11] - Holds a Zacks Rank 1 (Strong Buy) with earnings estimates surging, including a 38% increase for the current quarter [14] - Technical analysis shows a bullish flag pattern, with a breakout above $7.30 likely to trigger further buying [15] - **Global Partners (GLP)**: - Diversified midstream energy company involved in the wholesale, distribution, and retail of petroleum products, with a strong cash flow and market exposure [16] - Offers a 6% dividend yield, supported by consistent cash generation and a 10% average annual dividend increase over the last five years [17] - Holds a Zacks Rank 1 (Strong Buy) with significant earnings estimate revisions, including a 42.9% increase for the current quarter [18] Investment Outlook - With improving macro conditions, rising energy demand, and technical support in crude oil prices, the outlook for energy stocks is strengthening [20] - National Fuel Gas, Epsilon Energy, and Global Partners present a compelling mix of value, growth, and yield, making them attractive options for investors [20]

Company Overview - Epsilon Energy Ltd. (EPSN) is a notable stock within the Oils-Energy group, which consists of 246 companies [2] - The company currently holds a Zacks Rank of 2 (Buy), indicating a positive outlook based on earnings estimates and revisions [3] Performance Comparison - Year-to-date, Epsilon Energy Ltd. has returned 7.3%, significantly outperforming the average loss of 3.1% in the Oils-Energy sector [4] - In comparison, Global Partners LP (GLP) has returned 0.2% since the beginning of the year, also outperforming the sector [4] Industry Context - Epsilon Energy Ltd. is part of the Oil and Gas - Integrated - United States industry, which ranks 142 in the Zacks Industry Rank, with an average loss of 5.7% this year [6] - Global Partners LP belongs to the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry, currently ranked 166, with a year-to-date decline of 2.6% [7] Analyst Sentiment - The Zacks Consensus Estimate for Epsilon Energy's full-year earnings has increased by 29.7% over the past quarter, reflecting stronger analyst sentiment and an improving earnings outlook [3]