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Analysts Are Bullish on These Healthcare Stocks: Agile Therapeutics (AGRX), NovaBay Pharma (NBY)


There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Agile Therapeutics (AGRX), NovaBay Pharma (NBY) and Avenue Therapeutics Inc (ATXI) with bullish sentiments.

Agile Therapeutics (AGRX)

H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Agile Therapeutics today and set a price target of $4. The company’s shares closed yesterday at $0.79, close to its 52-week low of $0.23.

Livnat observed:

“We don’t think this should even be required, as Twirla is a different product than Xulane/Ortho Evra, not a generic copy, so its benefit-risk profile—which we think is better—should stand on its own merits. Nevertheless, the minutes were consistent with our expectation for a straightforward two-week crossover study (one week on each patch) to show that Twirla adhesion is non-inferior (NI) to Xulane. The company has not disclosed the specific NI margin that the agency is requiring, but the planned sample size of only n=80 suggests to us that the FDA has given them some NI breathing room. We are confident in success based on Phase 3 adhesion data (more below). Agile already had the study teed up and ready to go, and has immediately initiated it with a dermatology-specialized CRO, TKL Research.”

According to TipRanks.com, Livnat is a 1-star analyst with an average return of -3.0% and a 48.4% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Zynerba Pharmaceuticals, and Pacira Pharmaceuticals.

Agile Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $3.50.

See today’s analyst top recommended stocks >>

NovaBay Pharma (NBY)

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on NovaBay Pharma today and set a price target of $2. The company’s shares closed yesterday at $1.02, close to its 52-week low of $0.71.

Selvaraju observed:

“Our 12-month price target is derived from a market value of the firm at $50M, which includes a discounted cash flow based asset value for Avenova, using 15% discount rate and 2% terminal growth rate.”

According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -15.3% and a 26.3% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

NovaBay Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $2.50.

Avenue Therapeutics Inc (ATXI)

In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Avenue Therapeutics Inc, with a price target of $11. The company’s shares closed yesterday at $5.36, close to its 52-week high of $6.

Arce commented:

“We expect IV Tramadol 50 mg to provide comparable pain alleviation to patients who underwent abdominoplasty surgery in this second Phase 3 trial.”

According to TipRanks.com, Arce is a 4-star analyst with an average return of 7.4% and a 36.8% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.

Currently, the analyst consensus on Avenue Therapeutics Inc is a Moderate Buy with an average price target of $10.50.

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