Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Hologic (NASDAQ:HOLX) and Acorda Therapeutics (NASDAQ:ACOR).
In a report released today, Michael Matson from Needham maintained a Buy rating on Hologic, with a price target of $48. The company’s shares opened today at $38.70.
“Yesterday afternoon, HOLX filed an 8-K providing updated expectations for the TempSure Vitalia system suspension. Management now estimates the Vitalia suspension to result in $15M impact to F4Q18 Cynosure revenue. A prior 8-K noted on 8/13/18 noted that HOLX had included ~$7M of Vitalia sales in its F4Q18 guidance but that the actual impact could be larger than this due to refunds. Management reiterated F4Q18 revenue guidance of $800-815M given strong performance in HOLX’s other businesses but guided to the low-end of its prior range of $0.58-0.60. Despite the near-term financial impact, we think that the Vitalia suspension was the right thing to do and over the longer run this should serve to improve HOLX’s image and brand in the aesthetics market.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 14.9% and a 64.9% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
Currently, the analyst consensus on Hologic is a Moderate Buy with an average price target of $45.38.
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Acorda Therapeutics (ACOR)
Cantor Fitzgerald analyst Charles Duncan maintained a Hold rating on Acorda Therapeutics today and set a price target of $32. The company’s shares opened today at $15.75, close to its 52-week low of $15.60.
“We are Neutral on ACOR with a 12-month price target of $32. Acorda has suffered several commercial/pipeline setbacks which challenged sentiment. Ampyra recently lost commercial exclusivity, & we expect competition to drive sales down sharply. In addition, several pipeline candidates have not panned out, all likely well reflected in shares. On the brighter side, we see significant potential for Inbrija in PD. Based on our diligence, we believe Inbri’ addresses a key unmet need for improved acute treatment of OFF episodes & could become a new SOC, with time.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 3.4% and a 47.0% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Deciphera Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Acorda Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $25.88, representing a 64.3% upside. In a report issued on September 10, Janney Montgomery also maintained a Hold rating on the stock with a $20 price target.
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