There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Genocea Biosciences (NASDAQ:GNCA) and Concert Pharma (NASDAQ:CNCE) with bullish sentiments.
Genocea Biosciences (GNCA)
In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Genocea Biosciences, with a price target of $5. The company’s shares opened today at $0.66.
Pantginis noted:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $5 price target. Our valuation is based on our clinical net present value (NPV) model, which is currently driven by the company’s lead asset, GEN-009. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”
According to TipRanks.com, Pantginis is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -17.8% and a 26.4% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Genocea Biosciences with a $5 average price target.
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Concert Pharma (CNCE)
In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Concert Pharma. The company’s shares opened today at $14, close to its 52-week low of $12.33.
Yang noted:
“We do not see earnings as the most meaningful indicator of value for early-stage biotechs. Importantly, Concert is on track to report CTP-543 phase 2 data (4mg and 8mg cohorts) in November. We believe positive data in the 8mg cohort would be incrementally positive as Concert continues to enroll patients in the 12mg cohort of the phase 2 program. 12 mg cohort could be available in 3Q19. We updated our model and adjust our PT from $27 to $26. Reiterate Buy.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 18.2% and a 47.5% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
Concert Pharma has an analyst consensus of Strong Buy, with a price target consensus of $26.33.
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