Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Can-Fite BioPharma (NYSE:CANF) and Acorda Therapeutics (NASDAQ:ACOR).
Can-Fite BioPharma (CANF)
In a report released today, Jason Kolbert from H.C. Wainwright reiterated a Buy rating on Can-Fite BioPharma, with a price target of $8. The company’s shares opened today at $1.34, close to its 52-week low of $1.12.
Kolbert wrote:
“We also note that Namodenoson has both Track status in the hepatocellular carcinoma (HCC) indication. Namodenoson could be approved based on this study. The trial is a Phase 2 study, but given the unmet medical need, if the data is strong enough, it could be used as a registrational study. For this reason and for ethical reasons, management has been advised not to alter the original study design (statistical plan).”
According to TipRanks.com, Kolbert is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.0% and a 34.4% success rate. Kolbert covers the Healthcare sector, focusing on stocks such as Cytori Therapeutics Inc, Anavex Life Sciences, and Coherus Biosciences.
Currently, the analyst consensus on Can-Fite BioPharma is a Moderate Buy with an average price target of $8.
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Acorda Therapeutics (ACOR)
Cantor Fitzgerald analyst Charles Duncan reiterated a Hold rating on Acorda Therapeutics today and set a price target of $32. The company’s shares opened today at $18.70, close to its 52-week low of $15.60.
Duncan noted:
“. We are reiterating our Neutral rating and $32 PT for ACOR. This morning, Acorda reported 3Q18 Ampyra net revenues of $137.8M & cash of $460.9M. The revenues were higher than our model of $75.1M and Factset $80.1M, but declined 8% from $150.3M in 2Q18. In advance of Inbrija PDUFA date of Jan. 5, 2019, we maintain our Neutral rating until gaining visibility on Inbrija approval and launch numbers, which we think have potential to impress in the large PD OFF- period market. Questions on the earnings call centered on Inbrija approvability and launch strategy, including potential ex-US partnership (for which the company is engaged in talks). We believe the strong cash position will fund operations through the potential Inbrija launch and beyond into 2020.”
According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.4% and a 43.0% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Acorda Therapeutics is a Moderate Buy with an average price target of $24.50.
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