Healthcare analysts weigh in today on biotech companies Synergy Pharmaceuticals Inc (NASDAQ:SGYP) and Mast Therapeutics Inc (NYSEMKT:MSTX). The analysts positively viewed SGYP’s Plecanatide NDA submission, and MSTX’s positive top-line data for AIR001.
Synergy Pharmaceuticals Inc
Rodman & Renshaw analyst Ram Selvaraju reiterated a Buy rating on shares of Synergy Pharma, with a price target of $20, after the company announced it has filed plecanatide’s NDA in treating chronic idiopathic constipation (CIC).
Selvaraju commented, “The filing was completed on schedule, and we anticipate that Synergy should receive notification of acceptance of the NDA filing from the FDA later this quarter. We anticipate that an approval decision date will be provided at that time, probably at the start of 2017. Synergy has indicated that, pending plecanatide’s approval, it intends to launch the product in the U.S. market for CIC in the first quarter of 2017. Plecanatide has generated positive pivotal trial data from two placebo-controlled, randomized, double-blinded Phase 3 studies in CIC patients (p<0.001 and p<0.004 with respect to the primary endpoint, defined as a statistically significant difference in the percentage of patients classified as durable overall responders vs. placebo). In the wake of the timely filing of the plecanatide NDA, we reiterate our Buy rating.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ram Selvaraju has a yearly average return of 0.3% and a 41.5% success rate. Selvaraju has a -29.6% average return when recommending SGYP, and is ranked #1713 out of 3622 analysts.
As of this writing, all the 5 analysts polled by TipRanks rate Synergy stock a Buy. With a return potential of 298%, the stock’s consensus target price stands at $15.
Mast Therapeutics Inc
Canaccord analyst John Newman reiterated a Buy rating on shares of Mast Therapeutics, with a $3.00 price target, after the company announced positive phase IIa data for the company’s second asset, AIR001, in patients with heart failure with preserved ejection fraction.
Newman noted, “MSTX announced that AIR001, nebulized inhaled sodium nitrate, met its primary endpoint in a Phase 2a trial in the treatment of heart failure with preserved ejection fraction (HFpEF), a positive for the firm’s pipeline. The mid-stage trial in n=30 patients showed a statistically significant improvement over placebo as measured by a change in pulmonary capillary wedge pressure (PCWP) after exercise compared to baseline.”
According to TipRanks.com, analyst John Newman has a yearly average return of -18.1% and a 19.4% success rate. Newman has a -13.8% average return when recommending MSTX, and is ranked #3606 out of 3622 analysts.
In closing, all the 5 analysts polled by TipRanks rate Mast Therapeutics stock a Buy. With a return potential of 645%, the stock’s consensus target price stands at $3.