.jpg "CymaBay Therapeutics (NASDAQ: CBAY)")
There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on CymaBay Therapeutics (NASDAQ: CBAY) and Wright Medical Group (NASDAQ: WMGI) with bullish sentiments.
CymaBay Therapeutics (NASDAQ: CBAY)
Cantor Fitzgerald analyst William Tanner reiterated a Buy rating on CymaBay Therapeutics (NASDAQ: CBAY) yesterday and set a price target of $16. The company’s shares closed yesterday at $11.66.
Tanner commented:
“Seladelpar heading to Phase 3 testing in 2H18. CBAY expects to conclude discussions with U.S. and European regulators regarding the design of the pivotal Phase 3 trial. Management believes it possible to communicate details by the end of 2Q18. We would not be surprised if the trial design were similar to the Phase 2 study, a fact that might provide investors with increased comfort that the Phase 3 trial will yield data that support approval.”
According to TipRanks.com, Tanner is a 4-star analyst with an average return of 7.6% and a 50.6% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.
Currently, the analyst consensus on CymaBay Therapeutics is Strong Buy and the average price target is $19.86, representing a 70.3% upside.
In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $20 price target.
See today’s analyst top recommended stocks >>
Wright Medical Group (NASDAQ: WMGI)
Cantor Fitzgerald analyst Craig Bijou reiterated a Buy rating on Wright Medical Group (NASDAQ: WMGI) yesterday and set a price target of $30. The company’s shares closed yesterday at $20.98.
Bijou wrote:
“Strong 1Q results driven by shoulders. WMGI started the year off strong reporting 1Q revenue of $199MM, beating the Street (FactSet) by $5MM. Organic growth in the quarter was 9.2% y/y, ahead of our expectations and primarily driven by upper extremities. Upper ext. growth was 20% in the quarter, with 24% y/y growth in U.S. shoulders, driven primarily by the PERFORM Simpliciti stemless shoulder. EBITDA of $27MM, beat consensus by $3M and represented a margin of 13.4%, 310bps ahead of the prior year quarter.”
According to TipRanks.com, Bijou is a 4-star analyst with an average return of 23.9% and a 71.4% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Stryker Corporation.
Wright Medical Group has an analyst consensus of Strong Buy, with a price target consensus of $27.
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