There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Savara Inc (NASDAQ:SVRA) and Iterum Therapeutics Plc (NASDAQ:ITRM) with bullish sentiments.
Savara Inc (SVRA)
In a report released today, Dewey Steadman from Canaccord Genuity maintained a Buy rating on Savara Inc, with a price target of $25. The company’s shares opened today at $10.92.
Steadman said:
“We expect top line data from the ongoing IMPALA study in 2Q/19; we’re also encouraged that all IMPALA patients that have completed the study to date have elected to enroll in the IMPALA-X extension study. AeroVanc data likely in 2Q/19. The 200-patient pivotal AVAIL study of AeroVanc in CF- associated MRSA is around half-enrolled, and Savara expects to report top line data in 2Q/19. If approved, AeroVanc could represent the first inhaled therapy for MRSA infections in CF patients that now afflict close to 30% of all CF patients. Savara observed in earlier work that younger CF patients show a greater response to AeroVanc and FDA agreed to a trial design that allows a trial weighted toward patients 6-21 years of age with a primary endpoint for that age group.”
According to TipRanks.com, Steadman is a 3-star analyst with an average return of 3.3% and a 38.3% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Pacira Pharmaceuticals, and Perrigo Company plc.
Currently, the analyst consensus on Savara Inc is a Strong Buy with an average price target of $23.20, implying an 112.5% upside from current levels. In a report issued on August 3, H.C. Wainwright also maintained a Buy rating on the stock with a $22 price target.
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Iterum Therapeutics Plc (ITRM)
Needham analyst Alan Carr maintained a Buy rating on Iterum Therapeutics Plc today and set a price target of $20. The company’s shares opened today at $8.67, close to its 52-week low of $8.13.
Carr said:
“Iterum announced 2Q18 financial results today. As a reminder, the company completed an IPO in May 2018. Iterum announced last week the initiation of the first of three planned Phase 3 trials of lead asset sulopenem, SURE1, in uncomplicated Urinary Tract Infections (uUTI). Trials in complicated Urinary Tract Infections (cUTI) and complicated Intra-Abdominal Infections (cIAI) are expected to start within the next few months. Current oral antibiotics for UTI are inadequate, leading to increased reliance on more potent, but less convenient, IV antibiotics. Sulopenem offers the well-established potency of a carbapenem as well as the flexibility of both IV and oral administration. We acknowledge Phase 3 data will not be available until late 2019, but we believe the stock is underappreciated. BUY.”
According to TipRanks.com, Carr is a 3-star analyst with an average return of 3.3% and a 41.6% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Rhythm Pharmaceuticals Inc, and Lexicon Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Iterum Therapeutics Plc with a $20.75 average price target.
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