There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Amgen Inc (AMGN) and Bausch Health Companies Inc (BHC) with bullish sentiments.
Amgen Inc (AMGN)
In a report released today, Salim Syed from Mizuho Securities assigned a Buy rating to Amgen Inc, with a price target of $211. The company’s shares opened today at $189.22.
Syed noted:
“We also plan to unveil our buyside survey results in full detail and provide additional commentary on what we’re hearing from investors. This webinar will last 60 minutes. We will have slides (and I can’t promise a replay). Hope you can tune in. ===Ways to Access this Webinar=== 1. Link to add this webinar to your calendar ==> Click Here 2. Full-length URL (to use on day of webinar … click on it or cut/paste into your browser) ==> https://mizuhogroup.webex.com/mizuhogroup/onstage/ g.php?MTID=e55aa48dfcfbba81a9521ea1537d2ea77 3. Need audio-only cuz you’re travelling? ==> Email Me Please call / email with any questions – Salim PLEASE REFER TO PAGE 3 OF THIS REPORT FOR IMPORTANT DISCLOSURE AND ANALYST CERTIFICATION INFORMATION. Mizuho Securities USA LLC does and seeks to do business with companies covered in its research reports.”
According to TipRanks.com, Syed is a 3-star analyst with an average return of 2.6% and a 53.5% success rate. Syed covers the Healthcare sector, focusing on stocks such as Atara Biotherapeutics, Wave Life Sciences, and Biogen Inc.
Currently, the analyst consensus on Amgen Inc is a Moderate Buy with an average price target of $211.50, implying an 11.8% upside from current levels. In a report issued on January 29, Oppenheimer also maintained a Buy rating on the stock with a $224 price target.
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Bausch Health Companies Inc (BHC)
Mizuho Securities analyst Irina Rivkind Koffler reiterated a Buy rating on Bausch Health Companies Inc today and set a price target of $39. The company’s shares opened today at $25.33.
Rivkind Koffler commented:
“We previously highlighted a potential +/- 10% stock move on the news because the drug is an important growth driver for Bausch’s Ortho Dermatologics segment, and is critical to stabilizing this struggling business. Dermatology has been declining -17.3% YTD, and will be further impacted in 2019 by the Elidel LOE and potential generic entrants for Jublia. There is a lot riding on Duobrii, which needs a strong launch to get in front of competitors like Dermavant and Sienna that are both working on their own topical agents in psoriasis. We believe approval is also de-risked by Bausch’s Bryhali (halobetasol lotion), which was approved in Nov 2018. While we acknowledge the possibility of a downward move in the stock after its +37% move in 2019, we believe that approval is a much more likely outcome and reiterate our Buy rating.”
According to TipRanks.com, Koffler is a 4-star analyst with an average return of 7.6% and a 43.1% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Assertio Therapeutics Inc, Eagle Pharmaceuticals Inc, and Supernus Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bausch Health Companies Inc with a $33.14 average price target.
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