There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Global Blood Therapeutics (GBT), Coherus Biosciences (CHRS) and Ligand Pharma (LGND) with bullish sentiments.
Global Blood Therapeutics (GBT)
In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on Global Blood Therapeutics, with a price target of $125. The company’s shares closed on Friday at $38.55.
Chattopadhyay noted:
“We continue to expect voxelotor in conjunction with HU to become the standard-of-care, especially in younger patients, which could make these patients asymptomatic much like SCD-trait subjects. Our Buy rating and the price target of $125 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 9.9%, 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.”
According to TipRanks.com, Chattopadhyay has 0 stars on 0-5 star ranking scale with an average return of -4.6% and a 37.9% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Voyager Therapeutics Inc, Mersana 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 $84.89 average price target, implying a 120.2% upside from current levels. In a report issued on October 23, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $96 price target.
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Coherus Biosciences (CHRS)
H.C. Wainwright analyst Jason Kolbert reiterated a Buy rating on Coherus Biosciences today and set a price target of $28. The company’s shares closed on Friday at $12.30.
Kolbert commented:
“We know that a key element of Amgen’s (AMGN; not rated) lifecycle management plan to protect Neulasta market share has been to convert patients from Neulasta to Onpro (an at home delivery system, a device loaded with Neulasta). Yes, it appears to be a convenient system for at home delivery of the drug, however, there may be some increased risks associated with its use too. With a price advantage and a made in America message, we expect UDENYCA to win share in the $4B U.S. market.”
According to TipRanks.com, Kolbert has 0 stars on 0-5 star ranking scale with an average return of -6.3% and a 36.9% success rate. Kolbert covers the Healthcare sector, focusing on stocks such as Cytori Therapeutics Inc, Anavex Life Sciences, and Can-Fite BioPharma.
Coherus Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $32.67, a 165.6% upside from current levels. In a report issued on November 2, Maxim Group also maintained a Buy rating on the stock with a $25 price target.
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Ligand Pharma (LGND)
In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Ligand Pharma, with a price target of $281. The company’s shares closed on Friday at $165.72.
Pantginis observed:
“Valuation and risks to price target achievement. We maintain our Buy rating and are increasing our price target to $281 from $280. The increase to our target is based on the brexanolone AdCom and: (1) increasing our projected chance of success for the drug to 95% from 95%; and (2) increasing our projected peak sales from $685 million to $750 million. We highlight that this projection currently only counts the U.S. market opportunity for the drug.”
According to TipRanks.com, Pantginis has currently no stars on a ranking scale of 0-5 stars, with an average return of -15.0% and a 27.1% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
Currently, the analyst consensus on Ligand Pharma is a Strong Buy with an average price target of $256.50, representing a 54.8% upside. In a report issued on October 29, Roth Capital also upgraded the stock to Buy with a $195 price target.
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