There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Alder Biopharmaceuticals (NASDAQ: ALDR), MyoKardia Inc (NASDAQ: MYOK) and Allena Pharmaceuticals Inc (NASDAQ: ALNA) with bullish sentiments.
Alder Biopharmaceuticals (NASDAQ: ALDR)
Canaccord Genuity analyst Sumant Kulkarni maintained a Buy rating on Alder Biopharmaceuticals (NASDAQ: ALDR) yesterday and set a price target of $20. The company’s shares opened today at $14.70.
Kulkarni noted:
“We acknowledge the modest delay in the filing timeline, but continue to believe that ALDR’s intravenously-delivered product, which acts more quickly and has an effect that lasts longer vs. competitors’ subcutaneous products, could have a place in the treatment paradigm for migraine prevention. In our view, investor focus will now be on results from the pharmacokinetic (pK) comparability study that ALDR expects to report in 2H18, which will be a necessary component of the BLA filing; these data will compare product from a new manufacturer vs. that made at an older manufacturer (used in initial studies), which could present some risk.”
According to TipRanks.com, Kulkarni is a 1-star analyst with an average return of -2.7% and a 39.4% success rate. Kulkarni covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Intra-Cellular Therapies, and Voyager Therapeutics Inc.
Currently, the analyst consensus on Alder Biopharmaceuticals is Strong Buy and the average price target is $22.67, representing a 54.2% upside.
In a report released today, BMO Capital also maintained a Buy rating on the stock with a $21 price target.
See today’s analyst top recommended stocks >>
MyoKardia Inc (NASDAQ: MYOK)
Cowen & Co. analyst Ritu Baral maintained a Buy rating on MyoKardia Inc (NASDAQ: MYOK) yesterday and set a price target of $73. The company’s shares opened today at $44.90.
According to TipRanks.com, Baral is a top 25 analyst with an average return of 34.3% and a 55.9% success rate. Baral covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Allena Pharmaceuticals Inc.
MyoKardia Inc has an analyst consensus of Strong Buy, with a price target consensus of $73.50.
Allena Pharmaceuticals Inc (NASDAQ: ALNA)
Wedbush analyst Liana Moussatos reiterated a Buy rating on Allena Pharmaceuticals Inc (NASDAQ: ALNA) today and set a price target of $38. The company’s shares opened today at $16.27, close to its 52-week high of $17.56.
According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 9.2% and a 42.8% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Catabasis Pharmaceuticals, Global Blood Therapeutics, and Miragen Therapeutics Inc.
Currently, the analyst consensus on Allena Pharmaceuticals Inc is Strong Buy and the average price target is $40.50, representing a 148.9% upside.
In a report issued on April 24, B.Riley FBR also initiated coverage with a Buy rating on the stock with a $23.50 price target.
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