There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Exelixis (EXEL) and ADMA Biologics (ADMA) with bullish sentiments.
Exelixis (EXEL)
Oppenheimer analyst Silvan Tuerkcan maintained a Buy rating on Exelixis today and set a price target of $31. The company’s shares closed yesterday at $21.68.
Tuerkcan commented:
“EXEL reported 4Q $176.2M revenue beating $170.0M consensus driven by Cabometyx sales of $171.6M vs $166M consensus. Cabometyx sales grew 8% ($13.4M) q/q. Growth was high quality despite continued 1L ICI combination penetration with underlying product demand growth of 6% q/q and 66% y/y. There was modest (25%) impact from stocking ($3.3M) and negligible impact from a price increase which was offset by a 1.5% GtN increase. A focus was the potential impact of recent 1L RCC ICI combo data for Opdivo+Yervoy (BMY), Keytruda (MRK)+Inlyta (PFE). EXEL is confident in Cabometyx growth primarily in 2L as ICI combinations are used more frequently in 1L. We see additional upside from several pipeline readouts in 2019 including 9ER and commercial execution in HCC.”
According to TipRanks.com, Tuerkcan is ranked #2605 out of 5152 analysts.
Currently, the analyst consensus on Exelixis is a Strong Buy with an average price target of $33.
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ADMA Biologics (ADMA)
In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on ADMA Biologics, with a price target of $14. The company’s shares closed yesterday at $3.48.
Gershell commented:
“$72.5M senior secured loan agreement with large equity holder OS) as announced yesterday replaces prior Marathon facility with favorable terms as well as extends cash runway w/o dilution, pending product approvals which we continue to anticipate. Importantly, this deal should provide some relief to investors’ concerns around ADMA’s finances, which appeared to increasingly weigh on shares as the company had indicated its need to raise capital by the end of 2Q19. While we have greater visibility on regulatory timelines for RI-002 (4/2/19 PDUFA) vs. Bivigam (action date not yet assigned following response to CRL), we are optimistic for positive FDA decisions on both and view these as triggers for share outperformance.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -6.6% and a 30.3% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and AzurRx BioPharma Inc.
ADMA Biologics has an analyst consensus of Strong Buy, with a price target consensus of $11.25, implying a 223.3% upside from current levels. In a report issued on February 7, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $10 price target.
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