There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on T2 Biosystems (TTOO) and Evolus Inc (EOLS) with bullish sentiments.
T2 Biosystems (TTOO)
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on T2 Biosystems today and set a price target of $11. The company’s shares closed on Friday at $2.62, close to its 52-week low of $2.41.
Selvaraju said:
“Our price target is derived from an estimated market value of the firm at $557M, which includes a discounted cash flow analysis based asset value of $600M for T2Dx instrument and test panels, with a 15% discount rate and 0% terminal growth rate, excluding $42M outstanding debt.”
According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of -0.5% and a 33.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for T2 Biosystems with a $10.67 average price target, which is a 307.3% upside from current levels. In a report issued on May 16, Alliance Global Partners also initiated coverage with a Buy rating on the stock with a $5 price target.
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Evolus Inc (EOLS)
Mizuho Securities analyst Irina Rivkind Koffler maintained a Buy rating on Evolus Inc today and set a price target of $31. The company’s shares closed on Friday at $16.10.
Rivkind Koffler said:
“We advise buying the dip as our investment thesis hasn’t changed: Evolus has a high-quality cosmetic toxin in a rapidly growing market that is backed by a seasoned, innovative management team. The company already signed up 2,100 clinics as customers, assuring rapid uptake. We believe that the “unveiling” of the patient loyalty program later in the year will serve as a key catalyst for the stock.”
According to TipRanks.com, Koffler is a 1-star analyst with an average return of -1.5% and a 37.6% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Bausch Health Companies Inc, and Assertio Therapeutics Inc.
Evolus Inc has an analyst consensus of Strong Buy, with a price target consensus of $33.60, a 108.7% upside from current levels. In a report issued on May 8, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $35 price target.
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