There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on MacroGenics (NASDAQ:MGNX) and SAGE Therapeutics (NASDAQ:SAGE) with bullish sentiments.
MacroGenics (MGNX)
In a report released today, Boris Peaker from Cowen & Co. maintained a Buy rating on MacroGenics. The company’s shares opened today at $20.71.
According to TipRanks.com, Peaker is a 5-star analyst with an average return of 13.5% and a 47.3% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Stemline Therapeutics Inc, and Mersana Therapeutics Inc.
Currently, the analyst consensus on MacroGenics is a Strong Buy with an average price target of $30, representing a 44.9% upside. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $34 price target.
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SAGE Therapeutics (SAGE)
Canaccord Genuity analyst Sumant Kulkarni maintained a Buy rating on SAGE Therapeutics today and set a price target of $220. The company’s shares opened today at $146.49.
Kulkarni said:
“We hosted SAGE’s CFO Kimi Iguchi and CMO Steve Kanes at our 2018 Boston, MA. While our discussion touched upon several topics, the most important takeaway in our view was that management appears very confident heading into the 4Q18 availability of top-line pivotal trial data on SAGE-217 in postpartum depression (PPD). We believe this is a key stock driver as these data have a read-through for the development of SAGE-217 in major depressive disorder (MDD), which is a significantly larger indication vs. PPD (see here). Recall that SAGE-217 is an oral, small-molecule product with a novel mechanism of action. If approved, SAGE-217 could change the treatment paradigm from the current standard of care that relies on chronic treatment of MDD to an episodic one.”
According to TipRanks.com, Kulkarni is a 3-star analyst with an average return of 3.9% and a 48.2% success rate. Kulkarni covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Intra-Cellular Therapies, and Alder Biopharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for SAGE Therapeutics with a $224 average price target, a 52.9% upside from current levels. In a report issued on August 6, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $206 price target.
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