There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on IMV Inc. (IMV) and Biogen Inc (BIIB) with bullish sentiments.
IMV Inc. (IMV)
In a report released today, Joseph Pantginis from H.C. Wainwright initiated coverage with a Buy rating on IMV Inc. and a price target of $11.50. The company’s shares closed on Friday at $3.60, equals to its 52-week low of $3.60.
Pantginis observed:
“Valuation and risks to price target achievement. We are instituting a Buy rating and $11.50 price target. Our valuation is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Our valuation is currently based on the opportunities in the U.S. for only DPX-Survivac, the leading asset, in ovarian cancer (approximately 43% valuation contribution, 30% chance of success), DLBCL (15% valuation contribution, 15% chance of success), and the indications in the basket trial (41% valuation contribution, 10% chance of success).”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -14.0% and a 30.7% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Iovance Biotherapeutics Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for IMV Inc..
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Biogen Inc (BIIB)
In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Biogen Inc, with a price target of $300. The company’s shares closed on Friday at $216.71, close to its 52-week low of $216.49.
Fein said:
“To reflect the discontinuation of aducanumab, we made modifications to our models accordingly, and lowered our PT from $363 to $300. Our new PT of $300 is based on a discounted cash flow analysis using a 10% discount rate and 1% growth rate, in line with the expected discount and growth parameters of a commercial multiproduct biotechnology company. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) a smaller than anticipated commercial opportunity due to market size, competition, and/or pricing.”
According to TipRanks.com, Fein is a 5-star analyst with an average return of 8.1% and a 47.4% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, DBV Technologies SA – American, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Biogen Inc with a $267.50 average price target, which is a 23.4% upside from current levels. In a report issued on March 21, Oppenheimer also assigned a Buy rating to the stock with a $290 price target.
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