H.C. Wainwright Significantly Raises OvaScience Price Target Following Investor Day
In a research report released today, H.C. Wainwright analyst Andrew Fein maintained a Buy rating on OvaScience, Inc. (NASDAQ:OVAS) and raised his price target to $100 (from $40), following the management’s enthusiasm during the company’s investor day in NYC.
Fein wrote, “As the company consolidates its operations and starts generating revenue from its pilot geographies, we believe that perhaps the most valuable feature of the rollout is the company’s planned AUGMENT international registry, which may eventually serve to: (1) generate data on the performance of the technology, in general and in specific population subsets, which may in turn be leveraged to assure the more data-driven analysts, investors, and clinicians; (2) provide a framework for approaching regulatory agencies (including the FDA), in lieu of a formal RCT; and (3) provide another attractive asset to a potential partner or acquirer with existing operations or an interest in women’s health (complementing the appeal of the technology itself and its delivery infrastructure).”
The analyst concluded, “Based on management’s strong execution record to date in speeding IVF technologies from preclinical to clinical and to commercial stage, and our new assumptions on the IVF market opportunity for AUGMENT, we are reiterating our Buy Rating and raising our PT to $100.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Fein has a total average return of 11.6% and a 42.6% success rate. Fein has an 229.5% average return when recommending OVAS, and is ranked #561 out of 3434 analysts.