There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Palatin Technologies (PTN), Axovant Sciences (AXON) and Eyenovia Inc (EYEN) with bullish sentiments.
Palatin Technologies (PTN)
H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Palatin Technologies today and set a price target of $5. The company’s shares closed yesterday at $0.81.
Pantginis wrote:
“Valuation appears attractive to us based on initial addressable market size, and risks to price target achievement. We reiterate our Buy rating and $5 price target. Our price target is based on our clinical net present value (NPV) model, of which 83% is derived from the bremelanotide opportunity and the remainder from PL-8177 and PL-3994. The initial potential addressable market for bremelanotide is approximately 5.8 million women in the U.S.”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -18.4% and a 25.8% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
Palatin Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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Axovant Sciences (AXON)
In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Axovant Sciences, with a price target of $7. The company’s shares closed yesterday at $1.95.
Fein noted:
“Valuation and risks to the achievement of target price. Our price target of $7/share is based on an equally-weighted composite of: (a) $4.68/share, as a 35x multiple of taxed and diluted $1.72 discounted back to FY18 at 20% (in line with the expected PE multiple and discount rate of an early development-stage biotechnology company); and (b) an NPV of $9.56/share (discounted cash flow analysis using a 15% discount rate and 2.0% growth rate, in line with the expected discount and growth parameters of an early development-stage biotechnology company).”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 7.9% and a 42.5% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Currently, the analyst consensus on Axovant Sciences is a Moderate Buy with an average price target of $7.
Eyenovia Inc (EYEN)
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Eyenovia Inc today and set a price target of $12. The company’s shares closed yesterday at $2.64, equals to its 52-week low of $2.64.
Selvaraju commented:
“Our price target is derived from a market value of the firm at $195M, which includes a discounted cash flow-based asset value for all four micro-dosing products, with a 15% discount rate and 1% terminal growth rate.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -13.9% and a 22.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Aerpio Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eyenovia Inc with a $12 average price target.
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