There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Amag Pharmaceuticals (NASDAQ:AMAG) and Arqule (NASDAQ:ARQL) with bullish sentiments.
Amag Pharmaceuticals (AMAG)
In a report released yesterday, David Buck from B.Riley FBR maintained a Buy rating on Amag Pharmaceuticals, with a price target of $29. The company’s shares opened today at $18.29.
Buck observed:
“We are reviewing our AMAG (BUY) $29 price target and sales/adjusted EBITDA and EPS forecasts following 3Q18 results and sharp intraday share price weakness of about ~17%. AMAG’s 3Q18 results were in line to better; however, outlook commentary disappointed. The key takeaway from 3Q18 results is that revenues of $122.2M, down 1.7% Y/Y excluding the divested CBR business, topped our $113.9M forecast and consensus of $121.1M. Key takeaway points were Makena revenues of $80.2M declined less than we thought and topped our $74.1M/consensus $79.2M with $40.3M from the Makena SC auto-injector. Updated 2018 guidance and comments about 2019 are near-term pressures on AMAG shares. 2018 adjusted EBITDA at $119.3M versus $135.9M for 9M 2017.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 10.8% and a 55.1% success rate. Buck covers the Healthcare sector, focusing on stocks such as Amneal Pharmaceuticals Inc, Corcept Therapeutics Inc, and Spectrum Pharmaceuticals.
Amag Pharmaceuticals has an analyst consensus of Hold, with a price target consensus of $21.67.
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Arqule (ARQL)
B.Riley FBR analyst George Zavoico reiterated a Buy rating on Arqule today and set a price target of $6.75. The company’s shares opened today at $3.75.
Zavoico commented:
“Wednesday morning (10/31) on its 3Q18 financial results conference call, ArQule updated (1) patient enrollment in a dose-escalating Phase Ia/Ib trial of its selective and reversible Bruton’s tyrosine kinase (BTK) inhibitor ARQ531 in patients with relapsed or refractory B cell malignancies and (2) the continuing development of miransertib, a selective pan-AKT inhibitor, in Phase I and II trials for Proteus syndrome and PI3K-related overgrowth spectrum (PROS) of disorders, both rare diseases. ArQule guided to presenting safety and efficacy results of the first six cohorts of its Phase I trial of ARQ531 at the annual meeting of the Hematology (ASH) in early December.”
According to TipRanks.com, Zavoico is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.3% and a 37.2% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Cellular Biomedicine Group, Catalyst Biosciences Inc, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Arqule is a Strong Buy with an average price target of $6.92, an 84.5% upside from current levels. In a report issued on October 19, Roth Capital also maintained a Buy rating on the stock with a $7 price target.
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