There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Karyopharm Therapeutics (KPTI) and ImmunoGen (IMGN) with bullish sentiments.
Karyopharm Therapeutics (KPTI)
H.C. Wainwright analyst Edward White reiterated a Buy rating on Karyopharm Therapeutics today and set a price target of $30. The company’s shares closed on Friday at $10.40, close to its 52-week low of $9.
White commented:
“We continue to believe that selinexor could be approved for use in r/ r DLBCL patients, and we are encouraged by the data.”
According to TipRanks.com, White is a 5-star analyst with an average return of 14.4% and a 43.9% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Karyopharm Therapeutics with a $24.75 average price target.
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ImmunoGen (IMGN)
H.C. Wainwright analyst Debjit Chattopadhyay reiterated a Buy rating on ImmunoGen today and set a price target of $18. The company’s shares closed on Friday at $5.51, close to its 52-week low of $5.16.
Chattopadhyay wrote:
“Valuation; reiterating Buy. Our 12-month, $18 price target on shares of ImmunoGen is based on a 13-year DCF-driven, sum-of-the-parts analysis. Our DCF analysis is based on: beta of 1.75, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 12.0%, and tax rate of 12% beginning in FY 2028. Note, our $18 price target is leveraged on the outcome of the mirvetuximab soravtansine’s Phase 3 FORWARD I study, which represents approximately 89% of our target (risk-adjusted NPV of $16 per share). Key risks to our valuation include: emergence of ADC-related safety concerns, clinical, regulatory, and financials risks.”
According to TipRanks.com, Chattopadhyay has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.8% and a 36.8% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Mersana Therapeutics Inc, and Voyager Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ImmunoGen with a $17 average price target, implying a 208.5% upside from current levels. In a report released yesterday, Piper Jaffray also reiterated a Buy rating on the stock with a $14 price target.
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