There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Asterias Biotherapeutics (AST), Medicines Co (MDCO) and Endo International (ENDP) with bullish sentiments.
Asterias Biotherapeutics (AST)
B.Riley FBR analyst George Zavoico maintained a Buy rating on Asterias Biotherapeutics yesterday and set a price target of $6. The company’s shares opened today at $1.34.
“This morning, 11/8, Asterias Biotherapeutics (Buy, $6 Inc announced that they entered into a definitive merger agreement whereby BioTime will acquire all remaining outstanding common shares not currently owned by BioTime. As a reminder, Asterias was formed in 2012 as a subsidiary of BioTime with the purpose of developing the human embryonic stem cell (hESC) platform technology that BioTime had acquired from Geron Corporation. This platform is currently led by AST-OPC1, an oligodendrocyte progenitor cell therapy currently in a Phase II study to treat severe spinal chord injury, and AST-VAC2, an allogeneic dendritic cell cancer immunotherapy being developed in a Phase I clinical trial to treat non-small cell lung cancer. At the end of 3Q18, BioTime maintained about 40% ownership in Asterias.”
According to TipRanks.com, Zavoico has 0 stars on 0-5 star ranking scale with an average return of -4.4% and a 36.8% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Cellular Biomedicine Group, Catalyst Biosciences Inc, and Actinium Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Asterias Biotherapeutics with a $11 average price target.
Medicines Co (MDCO)
B.Riley FBR analyst Madhu Kumar reiterated a Buy rating on Medicines Co today and set a price target of $70. The company’s shares opened today at $23.91, close to its 52-week low of $23.22.
“Yesterday morning, 11/8/18, The Medicines Company (MDCO) announced 3Q18 earnings and provided a corporate update. We reiterate our optimism for the safety and tolerability profile of the firm’s lead asset, proprotein convertase subtilisin/kexin type 9 (PCSK9) RNAi drug inclisiran (partnered with Alnylam Pharmaceuticals [ALNY]) ahead of topline data from the ongoing Phase III ORION-9/10/11 studies, guided for 2H19. After 3Q18 model updates, we reiterate our MDCO Buy rating and $70 price target.”
According to TipRanks.com, Kumar is a 4-star analyst with an average return of 12.7% and a 41.2% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Clementia Pharmaceuticals Inc.
Medicines Co has an analyst consensus of Strong Buy, with a price target consensus of $61.67, a 157.9% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $50 price target.
Endo International (ENDP)
B.Riley FBR analyst David Buck maintained a Buy rating on Endo International yesterday and set a price target of $20.50. The company’s shares opened today at $13.26.
“Endo posted 3Q18 results with revenues of $745.5M, down 5.3% Y/Y versus our $702.3M/ consensus $692.8M. Branded Sterile Injectable sales of $237.1M grew 17.4% Y/Y and topped our $220.5M/consensus $209.4M. Total generics of $257.9M topped our $233.0M although they missed (FactSet) consensus of $281.4M with two outlier forecasts. Xiaflex brand grew 22% above our $60.4M forecast. Endo’s 3Q18 results included gross margin of 66.9% which rose despite higher mix of lower-margin authorized generics. EPS of $0.71 beat our $0.56/$0.59 consensus. Endo raised its 2018 adjusted EPS guidance from $2.50-$2.60 to $2.65-$2.75 while adjusted EBITDA guidance moves from $1.27B-$1.33B to $1.32B-$1.34B. Endo raised 2018 revenue guidance from $2.75B-$2.85B to $2.87B-$2.92B.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 5.8% and a 52.1% success rate. Buck covers the Healthcare sector, focusing on stocks such as Amneal Pharmaceuticals Inc, Corcept Therapeutics Inc, and Spectrum Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Endo International with a $17.72 average price target, a 33.6% upside from current levels. In a report released today, Canaccord Genuity also upgraded the stock to Buy with a $20 price target.
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