There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Innovate Biopharmaceuticals Inc (NASDAQ:INNT) and SuperCom (NASDAQ:SPCB) with bullish sentiments.
Innovate Biopharmaceuticals Inc (INNT)
H.C. Wainwright analyst Ram Selvaraju initiated coverage with a Buy rating on Innovate Biopharmaceuticals Inc today and set a price target of $35. The company’s shares closed yesterday at $8.08, close to its 52-week low of $3.43.
Selvaraju observed:
“We believe that INN-202, Innovate’s enteric-coated oral capsule formulation of larazotide for treatment of celiac disease, represents the only agent regulating intestinal permeability—the so-called “leaky gut”—in development to treat celiac disease. When the connections between epithelial cells of the gut become dysfunctional, pro-inflammatory substances can spill out into the systemic circulation, contacting and activating immune cells and contributing to autoimmune disease and chronic inflammation. Decreasing gut permeability has been shown to exert therapeutic benefit in both celiac disease and other GI tract disorders. We note that there is no currently-available pharmacotherapy to treat celiac disease, and the only available treatment is to eat a gluten- free diet (no bread, no pasta, and no cereal).”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 1.2% and a 44.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Innovate Biopharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $35.
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SuperCom (SPCB)
H.C. Wainwright analyst Kevin Dede assigned a Buy rating to SuperCom today and set a price target of $5. The company’s shares closed yesterday at $1.94, close to its 52-week low of $1.53.
According to TipRanks.com, Dede has 0 stars on 0-5 star ranking scale with an average return of -11.2% and a 40.0% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as Top Image Systems, Microvision, and Resonant.
SuperCom has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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