There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Advaxis (NASDAQ: ADXS) and ChemoCentryx (NASDAQ: CCXI) with bullish sentiments.
Advaxis (NASDAQ: ADXS)
In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Advaxis (NASDAQ: ADXS), with a price target of $3. The company’s shares closed yesterday at $1.90, close to its 52-week low of $1.51.
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 8.4% and a 40.9% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Trillium Therapeutics.
Advaxis has an analyst consensus of Moderate Buy, with a price target consensus of $5.50.
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ChemoCentryx (NASDAQ: CCXI)
In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on ChemoCentryx (NASDAQ: CCXI), with a price target of $20. The company’s shares closed yesterday at $11.77.
“We base our $20 price target on probability-adjusted revenue forecasts for avacopan in AAV and C3G. We use the net present value of our revenue forecast through 2028, apply a 30% probability of success (POS) for avacopan in AAV, a 25% POS for avacopan in C3G, a 3x price/sales multiple, and our estimated fully diluted year- end 2018 net cash of $2.17/share to arrive at our price target. Our P/S multiple of 3x is in-line with ChemoCentryx’s peers that range between 2-5x. We use a 25% discount rate for the pipeline, which includes CCX140, CCX872 and avacopan for HS, as it is above the marketed products discount rate due to development risks but within the typical range of 15-25% for products in development. We project revenues of $72M for avacopan in AAV in 2021, growing to $1.4B in 2028. For avacopan in C3G, we estimate revenues of $10M in 2024, increasing to $124M in 2028.”
According to TipRanks.com, White is a 5-star analyst with an average return of 26.4% and a 54.1% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Synthetic Biologics Inc, and Karyopharm Therapeutics.
ChemoCentryx has an analyst consensus of Moderate Buy, with a price target consensus of $18.50.
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