Analysts Are Bullish on These Healthcare Stocks: Proteostasis Therapeutics Inc (PTI), Merit Medical Systems (MMSI)


There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Proteostasis Therapeutics Inc (PTI), Merit Medical Systems (MMSI) and GlycoMimetics (GLYC) with bullish sentiments.

Proteostasis Therapeutics Inc (PTI)

In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Proteostasis Therapeutics Inc, with a price target of $15. The company’s shares opened today at $4.54.

Fein commented:

“Our price target of $15 is based on a probability-adjusted $12 from PTI-428 in F508del CF (12% discount rate, 2% growth rate, in line with the expected discount and growth parameters of a development-stage company) + $3 in cash. 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. Proteostasis Therapeutics, Inc.”

According to TipRanks.com, Fein is a 4-star analyst with an average return of 5.4% and a 40.7% success rate. Fein covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Cyclacel Pharmaceuticals.

Currently, the analyst consensus on Proteostasis Therapeutics Inc is a Strong Buy with an average price target of $14.75, which is a 224.9% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $21 price target.

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Merit Medical Systems (MMSI)

Barrington analyst Michael Petusky maintained a Buy rating on Merit Medical Systems today and set a price target of $68. The company’s shares opened today at $55.

Petusky wrote:

“We will take our 2018 non- GAAP EPS estimate down by $0.02 to $1.63 and leave our previous 2019 non-GAAP EPS estimate unchanged at $1.95.”

According to TipRanks.com, Petusky is a 4-star analyst with an average return of 9.9% and a 52.2% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and DENTSPLY SIRONA Inc.

Currently, the analyst consensus on Merit Medical Systems is a Strong Buy with an average price target of $73.67, representing a 33.9% upside. In a report released yesterday, Needham also reiterated a Buy rating on the stock with a $73 price target.

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GlycoMimetics (GLYC)

GlycoMimetics received a Buy rating and a $24 price target from H.C. Wainwright analyst Edward White today. The company’s shares opened today at $10.54, close to its 52-week low of $10.01.

White commented:

“We base our $24 price target on probability-adjusted forecasts for uproleselan in AML and MM as well as rivipansel in SCD VOC. We use the net present value of our revenue forecast through 2027, apply a 60% POS for AML (in 15% POS for MM (in 70% POS for SCD VOC (in 4x price/sales multiple for AML and MM totaling an estimated uproleselan value of $16.10, a value of $4.72 for rivipansel, and 2019 estimated year-end net cash of $3.27 per share, to arrive at our price target.”

According to TipRanks.com, White is a 5-star analyst with an average return of 13.1% and a 43.5% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.

GlycoMimetics has an analyst consensus of Strong Buy, with a price target consensus of $29.50.

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