There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Galectin Therapeutics (NASDAQ: GALT), Corium (NASDAQ: CORI) and Taro Pharma (NYSE: TARO) with bullish sentiments.
Galectin Therapeutics (NASDAQ: GALT)
In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Galectin Therapeutics (NASDAQ: GALT), with a price target of $12. The company’s shares closed yesterday at $4.
Arce commented:
“We also believe the shares are likely to see further significant gains in the comings days, as GALT briefly traded above $6 per share as recently as four months ago, and yet yesterday’s announcement is, in our view, the most meaningful stock catalyst since the topline results of the Phase 2b NASH-CX trial in early December 2017. While the prospect of Galectin’s GR-MD-02 becoming a Phase 3 NASH asset clearly comes as a surprise to some, we continue to believe (see our Dec. 7 note, “Landmark in NASH Cirrhosis; Raise PT to $10″) that the results of NASH-CX enables multiple paths for a pivotal Phase 3 program. Yesterday, Galectin confirmed the target population of the Phase 3 trial to be patients with NASH cirrhosis without esophageal varices.”
According to TipRanks.com, Arce is a 5-star analyst with an average return of 20.8% and a 42.6% success rate. Arce covers the Healthcare sector, focusing on stocks such as Collegium Pharmaceutical, Conatus Pharmaceuticals, and Aurinia Pharmaceuticals.
Galectin Therapeutics has an analyst consensus of Hold.
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Corium (NASDAQ: CORI)
H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Corium (NASDAQ: CORI) today and set a price target of $14. The company’s shares closed yesterday at $9.06.
Livnat noted:
“We think recent stock pullback is unwarranted as base business chugs along and main pipeline driver progresses. Corium reported fiscal 2Q18 (March 2018) results, with revenue and gross margins beating our estimates for the third consecutive quarter, offset by higher R&D—which should have peaked this quarter—netting a loss per share approximately in line with estimates (ex-items). CORI stock has declined 30% (vs. XBI +3%) since its recapitalization at the end of February, which is a bit of a mystery to us since we aren’t aware of any negative fundamental developments for the key pipeline driver, a weekly donepezil patch for Alzheimer’s, or any material updates to its partner Agile’s (AGRX; Buy rated) Twirla contraceptive patch.”
According to TipRanks.com, Livnat has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.6% and a 40.4% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, Pacira Pharmaceuticals, and Jazz Pharmaceuticals.
Currently, the analyst consensus on Corium is Moderate Buy and the average price target is $14, representing a 54.5% upside.
In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $14 price target.
Taro Pharma (NYSE: TARO)
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Taro Pharma (NYSE: TARO) today and set a price target of $124. The company’s shares closed yesterday at $111.82.
Selvaraju said:
“We are updating our F4Q18 projections in anticipation of Taro’s earnings release later this week. Our top-line estimate currently stands at $166.6M vs. the prior $186.6M, given residual erosion of existing franchise sales and gradual contribution from new product revenue, including the introduction of Pliaglis, which was launched only a few months ago. Our F4Q18 earnings per share is currently $1.51 vs. the prior $2.22, while our full-year fiscal 2018 EPS estimate is now $4.58 vs. the previous $5.28. We note that longer-term growth prospects should continue to improve, as the overall generics sector outlook gets better and Taro benefits from the durability of certain product formulations and further new brand launches while remaining favorably positioned due to its robust cash position and lack of long-term debt.”
According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -3.4% and a 38.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Taro Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $124.
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