There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on BioMarin (BMRN) and Rocket Pharmaceuticals Inc (RCKT) with bullish sentiments.
BioMarin (BMRN)
In a report released today, Eliana Merle from Cantor Fitzgerald reiterated a Buy rating on BioMarin, with a price target of $126. The company’s shares opened today at $97.06.
Merle wrote:
“. Reiterate OW and $126 PT. We think progress updates at R&D day today were supportive of the pipeline’s long-term potential. Key takeaways: New vosoritide data was supportive of Ph3 success and BMRN sounds more confident in Valrox accelerated filing after further regulatory interactions. We continue to think that the company’s pipeline is undervalued at this level and we see highly favorable risk/reward into key pipeline updates in 2019. We think the base business alone (without any pipeline) is worth ~$85-$95/sh and that the company’s powerful rare disease and gene therapy platform is underappreciated.”
According to TipRanks.com, Merle is ranked #3582 out of 4907 analysts.
Currently, the analyst consensus on BioMarin is a Strong Buy with an average price target of $120.20, a 23.8% upside from current levels. In a report issued on October 23, Canaccord Genuity also reiterated a Buy rating on the stock with a $116 price target.
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Rocket Pharmaceuticals Inc (RCKT)
In a report released today, Raju Prasad from William Blair maintained a Buy rating on Rocket Pharmaceuticals Inc. The company’s shares opened today at $18.30.
According to TipRanks.com, Prasad is a 2-star analyst with an average return of 1.2% and a 31.4% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Audentes Therapeutics, and Spark Therapeutics.
Rocket Pharmaceuticals Inc has an analyst consensus of Moderate Buy.
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