Analysts have been eager to weigh in on the Healthcare sector with new ratings on Eyenovia Inc (EYEN), Galectin Therapeutics (GALT) and Advaxis (ADXS).
Eyenovia Inc (EYEN)
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Eyenovia Inc today and set a price target of $12. The company’s shares closed yesterday at $2.72, close to its 52-week low of $2.40.
According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -15.2% and a 25.3% 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 Moderate Buy analyst consensus rating for Eyenovia Inc with a $12 average price target.
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Galectin Therapeutics (GALT)
H.C. Wainwright analyst Ed Arce maintained a Buy rating on Galectin Therapeutics today and set a price target of $12. The company’s shares closed yesterday at $4.58.
Arce observed:
“We believe the most important aspect of this conversion is the elimination of special voting rights and protective provisions that were tethered to the Series B preferred shares, eliminating a major pushback by institutional investors who have largely remained on the sidelines. In parallel, a $10M line of credit (LOC) provided by Galectin Chairman Richard E. Uihlein was extended by two years, allowing Galectin to borrow at the prevailing federal rate published by the IRS (now 2.7%) until December 31, 2021 (with repayment due December 31, 2022). While Galectin has yet to tap into this LOC, it nonetheless further extends Galectin’s cash runway which we project to be year end 2019.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 7.2% and a 36.6% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
Currently, the analyst consensus on Galectin Therapeutics is a Moderate Buy with an average price target of $12.
Advaxis (ADXS)
H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Hold rating on Advaxis today. The company’s shares closed yesterday at $0.30, close to its 52-week low of $0.18.
Ramakanth noted:
“We maintain our Neutral rating of ADXS with no price target due to the significant uncertainties surrounding the company’s core ADXS-NEO and ADXS-HOT programs. (1) clinical; (2) financial; (3) regulatory; (4) commercial; and (5) intellectual property.”
According to TipRanks.com, Ramakanth is ranked 0 out of 5 stars with an average return of -5.1% and a 31.5% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Collplant Holdings Ltd.
Currently, the analyst consensus on Advaxis is a Moderate Buy with an average price target of $3.
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