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Analysts Offer Insights on Healthcare Companies: Abeona Therapeutics (ABEO), Foamix Pharma (FOMX) and Pacific Biosciences (PACB)


There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Abeona Therapeutics (NASDAQ:ABEO), Foamix Pharma (NASDAQ:FOMX) and Pacific Biosciences (NASDAQ:PACB) with bullish sentiments.

Abeona Therapeutics (ABEO)

In a report released today, Difei Yang from Mizuho Securities initiated coverage with a Buy rating on Abeona Therapeutics and a price target of $17. The company’s shares opened today at $9.98, close to its 52-week low of $9.66.

Yang wrote:

“We believe agreement with regulators regarding design and initiation of pivotal trials are likely to be important catalysts for the shares and we anticipate this could happen by the end of 1H19. We initiate coverage with a Buy rating and $17 PT.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 21.9% and a 51.6% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Abeona Therapeutics with a $29.50 average price target, which is a 195.6% upside from current levels. In a report issued on October 1, Cantor Fitzgerald also maintained a Buy rating on the stock with a $36 price target.

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Foamix Pharma (FOMX)

Cantor Fitzgerald analyst Louise Chen initiated coverage with a Buy rating on Foamix Pharma today and set a price target of $15. The company’s shares opened today at $4.96.

Chen observed:

“. We are initiating coverage of FOMX with an OW rating and a 12-month price target of $15. We use a blend of EV/EBITDA, DCF and Bear-case analysis to arrive at our PT. We expect the successful commercialization of FMX101 (acne) and FMX103 (rosacea) to drive upward earnings revisions to levels not yet reflected in consensus expectations and FOMX’s stock higher. We think the peak sales for potential for both products as well as the rest of FOMX’s pipeline, is still underappreciated by the Street.”

According to TipRanks.com, Chen is a 4-star analyst with an average return of 8.3% and a 40.9% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Foamix Pharma with a $18.67 average price target, representing a 276.4% upside. In a report issued on October 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $11 price target.

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Pacific Biosciences (PACB)

Cantor Fitzgerald analyst Jordan Abrams reiterated a Buy rating on Pacific Biosciences today and set a price target of $8. The company’s shares opened today at $4.02.

Abrams noted:

“: We reiterate our Overweight rating on PACB and raise our 12-month PT to $8, from $5. Earlier this week, we conducted a 25 person survey of high volume genomic centers asking end-users about PACB’s 8M SMRT cell expected to launch in 2019. 11 respondents (44%) plan to use PacBio’s 8M SMRT of samples, compared to 22 respondents (88%) that currently use of samples or not at all. Most significantly, our analysis of user data suggests a mean utilization of ~14% with PacBio’s 8M SMRT Cell, a substantial increase from the ~3% share PacBio has now.”

Abrams has an average return of 4.9% when recommending Pacific Biosciences.

According to TipRanks.com, Abrams is ranked #3898 out of 4897 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pacific Biosciences with a $8 average price target.

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