There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Celgene (CELG), Global Blood Therapeutics (GBT) and RedHill Biopharma (RDHL) with bullish sentiments.
Celgene (CELG)
In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Celgene, with a price target of $163. The company’s shares opened today at $73.88, close to its 52-week low of $66.62.
Cann noted:
“ASH data for AUGMENT, TRANSCEND, BELIEVE and MEDALIST, were very impressive. The TRANSCEND data in relapsed/refractory CLL demonstrated very high ORRs with good durability. We currently have no impact by 2022 for JCAR17, but believe it has important potential post-2022. The positive AUGMENT data are very encouraging in this difficult to treat setting, and could provide a new chemotherapy- free option for these patients. Results from the BELIEVE study support luspatercept as a potential new treatment for adult patients with β-thalassemia, and results from MEDALIST support luspatercept in the treatment of patients with lower-risk MDS. These results for luspatercept in beta-thalassemia and in low-risk MDS could provide potential upside to our outlook, which remains unchanged at this time.”
According to TipRanks.com, Cann is a 4-star analyst with an average return of 3.6% and a 42.8% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Celgene with a $115.56 average price target, which is a 56.4% upside from current levels. In a report issued on November 26, Jefferies also maintained a Buy rating on the stock with a $115 price target.
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Global Blood Therapeutics (GBT)
H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on Global Blood Therapeutics today and set a price target of $150. The company’s shares opened today at $44.06.
Chattopadhyay wrote:
“Our Buy rating and new price target of $150 (raised from $125 previously) are based on a DCF analysis, derived using a beta of 1.40, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 10.0%, and tax rate of 15% beginning in FY 2024. We estimate approximately 70K patients in U.S., 42K patients in the $60K (increased from $75K and $50K) U.S. and EU launch prices, respectively, a 2020 commercial launch, 70% compliance, and 23% gross- to-net.”
According to TipRanks.com, Chattopadhyay is ranked 0 out of 5 stars with an average return of -6.8% and a 36.8% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Mersana Therapeutics Inc, Voyager Therapeutics Inc, and Jounce Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Blood Therapeutics with a $87.75 average price target, implying a 99.2% upside from current levels. In a report issued on November 19, Wedbush also reiterated a Buy rating on the stock with a $73 price target.
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RedHill Biopharma (RDHL)
In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on RedHill Biopharma, with a price target of $36. The company’s shares opened today at $8.71.
Ramakanth wrote:
“We are maintaining our Buy rating on RedHill and our 12-month price target of $36.00 per ADS based on the average of two valuation methods: (1) price-sales multiple using 7x 2025 sales estimate discounted at 14%; and (2) price-earnings multiple analysis applying a 15x multiple to our 2025 estimated earnings also discounted at 14%. (1) commercial; (2) regulatory; (3) clinical; (4) partnership; (5) financial; and (6) intellectual property.”
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 3.4% and a 37.9% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Tyme Technologies Inc.
RedHill Biopharma has an analyst consensus of Moderate Buy, with a price target consensus of $27.50.
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