There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Evoke Pharma (NASDAQ: EVOK), CytomX Therapeutics Inc (NASDAQ: CTMX) and Biogen Inc (NASDAQ: BIIB) with bullish sentiments.
Evoke Pharma (NASDAQ: EVOK)
B.Riley FBR analyst David Buck reiterated a Buy rating on Evoke Pharma (NASDAQ: EVOK) yesterday and set a price target of $5. The company’s shares closed yesterday at $2.87.
Buck observed:
“BMO on 6/4/18, Evoke Pharma (EVOK) announced the submission of its 505(b)(2) NDA to the FDA for Gimoti (metoclopramide nasal spray) for the relief of symptoms in women with gastroparesis. Dosing is expected to be four times per day for a duration of four weeks. Specific dosages filed as part of the Gimoti NDA remain undisclosed. As part of its discussion with the agency during review, we expect Evoke to propose a post-approval safety study and a risk evaluation and mitigation strategy. We see the Gimoti NDA submission as an incremental positive and a risk-reducing event for Evoke. The submission on June 1st should pave the way for FDA acceptance of the NDA in early August leading to a PDUFA date that would be in 2Q19.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 15.8% and a 75.8% success rate. Buck covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics Inc, Spectrum Pharmaceuticals, and Supernus Pharmaceuticals.
Currently, the analyst consensus on Evoke Pharma is Moderate Buy and the average price target is $7, representing a 143.9% upside.
In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $9 price target.
See today’s analyst top recommended stocks >>
CytomX Therapeutics Inc (NASDAQ: CTMX)
Cowen & Co. analyst Boris Peaker maintained a Buy rating on CytomX Therapeutics Inc (NASDAQ: CTMX) on June 4. The company’s shares closed yesterday at $22.06.
According to TipRanks.com, Peaker is a 5-star analyst with an average return of 16.6% and a 51.2% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Stemline Therapeutics Inc, Mersana Therapeutics Inc, and Jounce Therapeutics Inc.
Currently, the analyst consensus on CytomX Therapeutics Inc is Strong Buy and the average price target is $39.33, representing a 78.3% upside.
In a report issued on June 1, SunTrust Robinson also initiated coverage with a Buy rating on the stock with a $38 price target.
Biogen Inc (NASDAQ: BIIB)
In a report released yesterday, Salim Syed from Mizuho Securities maintained a Buy rating on Biogen Inc (NASDAQ: BIIB), with a price target of $423. The company’s shares closed yesterday at $298.64.
According to TipRanks.com, Syed is a 3-star analyst with an average return of 2.7% and a 48.3% success rate. Syed covers the Healthcare sector, focusing on stocks such as Nektar Therapeutics, Akebia Therapeutics, and Spark Therapeutics.
Currently, the analyst consensus on Biogen Inc is Moderate Buy and the average price target is $340.95, representing a 14.2% upside.
In a report issued on May 30, Canaccord Genuity also assigned a Buy rating to the stock with a $335 price target.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
