There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Momenta Pharma (MNTA), BioMarin (BMRN) and Alnylam Pharma (ALNY) with bullish sentiments.
Momenta Pharma (MNTA)
In a report released today, Derek Archila from Stifel Nicolaus maintained a Buy rating on Momenta Pharma, with a price target of $39. The company’s shares opened today at $14.48, close to its 52-week low of $11.72.
Archila noted:
“We ultimately view today’s financial results as a non-event given the company’s strategic shift to focusing on its proprietary pipeline. Overall, our long-term thesis on MNTA shares is unchanged as we remain positive on MNTA’s M281 (anti-FcRn) program though, we recognize shares may remain challenged in the near-term given the company’s financial overhang, modest near-term catalysts and controversy surrounding M281’s safety profile (which we have stated previously we are not overly concerned about: see note here).”
According to TipRanks.com, Archila has 0 stars on 0-5 star ranking scale with an average return of -7.2% and a 33.3% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Pacira Pharmaceuticals.
Momenta Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $30.33, representing a 109.5% upside. In a report issued on November 5, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $35 price target.
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BioMarin (BMRN)
Cowen & Co. analyst Phil Nadeau maintained a Buy rating on BioMarin today and set a price target of $150. The company’s shares opened today at $99.06.
According to TipRanks.com, Nadeau is a 5-star analyst with an average return of 8.2% and a 50.0% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Allogene Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for BioMarin with a $120.20 average price target, implying a 21.3% upside from current levels. In a report issued on October 23, Canaccord Genuity also reiterated a Buy rating on the stock with a $116 price target.
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Alnylam Pharma (ALNY)
Cowen & Co. analyst Ritu Baral maintained a Buy rating on Alnylam Pharma today and set a price target of $147. The company’s shares opened today at $76.05, close to its 52-week low of $71.85.
According to TipRanks.com, Baral is a top 100 analyst with an average return of 26.8% and a 49.0% success rate. Baral covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Allena Pharmaceuticals Inc, and Ionis Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alnylam Pharma with a $146.50 average price target, a 92.6% upside from current levels. In a report released today, Piper Jaffray also reiterated a Buy rating on the stock with a $160 price target.
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