There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Global Blood Therapeutics (GBT), Revance Therapeutics (RVNC) and Aduro BioTech (ADRO) 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 $150. The company’s shares closed yesterday at $53.08.
Chattopadhyay commented:
“Our Buy rating and $150 are based on a DCF analysis, derived using a beta of 1.45, 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 a 3-star analyst with an average return of 1.8% and a 49.0% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Voyager Therapeutics Inc, Autolus Therapeutics Plc, and Mersana Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Global Blood Therapeutics with a $89.11 average price target, implying a 67.9% upside from current levels. In a report issued on February 22, Guggenheim also initiated coverage with a Buy rating on the stock with a $75 price target.
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Revance Therapeutics (RVNC)
H.C. Wainwright analyst Douglas Tsao maintained a Buy rating on Revance Therapeutics today and set a price target of $25. The company’s shares closed yesterday at $16.98, close to its 52-week low of $15.38.
According to TipRanks.com, Tsao is a 1-star analyst with an average return of -0.4% and a 48.2% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Crinetics Pharmaceuticals Inc, Radius Health, and Evolus Inc.
Currently, the analyst consensus on Revance Therapeutics is a Strong Buy with an average price target of $40.57, which is a 138.9% upside from current levels. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $37 price target.
Aduro BioTech (ADRO)
In a report released today, Mark Breidenbach from Oppenheimer maintained a Buy rating on Aduro BioTech, with a price target of $7. The company’s shares closed yesterday at $4.28.
Breidenbach observed:
“Wednesday, Aduro reported 4Q18 results, and we discussed recent progress with management. The company has focused its development efforts on its STING and BION-1301 programs, which could deliver important de-risking data in 2019. We believe initial clinical results from the combination of ADU-S100 with spartalizumab could be presented at a medical conference in mid-to-late 2019, and these data could guide which indications Aduro and partner Novartis decide to explore in planned dose expansion cohorts. Additionally, first-in-human data from BION-1301 in multiple myeloma (MM) could be presented in 2H19. With a respectable cash position of ~ $278M that could potentially sustain operations until 2022, we believe Aduro has adequate resources to deliver critical proof-of-concept data that could reinvigorate investor interest. Reiterate Outperform, $7 PT.”
According to TipRanks.com, Breidenbach is a 1-star analyst with an average return of -0.2% and a 41.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aduro BioTech with a $7 average price target.
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