There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Selecta Biosciences (NASDAQ:SELB) and SCYNEXIS (NASDAQ:SCYX) with bullish sentiments.
Selecta Biosciences (SELB)
In a report released today, John Newman from Canaccord Genuity maintained a Buy rating on Selecta Biosciences, with a price target of $40. The company’s shares opened today at $13.50.
Newman noted:
“We expect Selecta to present positive 5-dose Phase 2 combination data for SEL-212 in severe gout during 3Q18, and see significant upside for the stock. Selecta is likely to present data from multiple dosing cohorts, with up to n=20 patients from each cohort. We suspect focus will be on the 0.15 mg/kg SVP-rapamycin + 0.20 pegsiticase dose, but await upcoming data. We see little reason that SEL-212 will not reproduce data at 5 months similar to that seen at 3 months, where ~80% Serum Uric Acid control was shown.”
According to TipRanks.com, Newman is a 5-star analyst with an average return of 19.5% and a 48.3% success rate. Newman covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Atara Biotherapeutics, and Gemphire Therapeutics.
Currently, the analyst consensus on Selecta Biosciences is a Strong Buy with an average price target of $34.33, which is a 154.3% upside from current levels. In a report issued on June 27, Janney Montgomery also initiated coverage with a Buy rating on the stock with a $33 price target.
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SCYNEXIS (SCYX)
In a report released today, Dewey Steadman from Canaccord Genuity maintained a Buy rating on SCYNEXIS, with a price target of $4. The company’s shares opened today at $1.92.
Steadman commented:
“We think this positive data should help lift the overhang on SCYX shares since the discontinuation of the original IV formulation several quarters ago, potentially giving investors a fresh look at the Scynexis story. We reiterate our BUY rating and $4 PT.”
According to TipRanks.com, Steadman is a 4-star analyst with an average return of 6.5% and a 53.1% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Pacira Pharmaceuticals, and Perrigo Company plc.
SCYNEXIS has an analyst consensus of Strong Buy, with a price target consensus of $5.83, a 203.6% upside from current levels. In a report issued on June 27, Maxim Group also initiated coverage with a Buy rating on the stock with a $6 price target.
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