There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Adamas Pharmaceuticals (ADMS) and MyoKardia Inc (MYOK) with bullish sentiments.
Adamas Pharmaceuticals (ADMS)
Northland Securities analyst Carl Byrnes maintained a Buy rating on Adamas Pharmaceuticals today and set a price target of $28. The company’s shares opened today at $8.70, close to its 52-week low of $7.42.
Byrnes said:
“We remain confident in GOCOVRI’s success, along w/ significant upside potential from ADS-5102 for MS walking impairment. GOCOVRI sales for ’18 totaled $34MM, comparing to $22.5MM at the time of our initiation of coverage in late-2017. While sequential Rx growth has slowed, we anticipate sustained sequential growth supporting our OP rating. Adamas reported 4Q results w/ GOCOVRI sales at $13.3MM, aligned with guidance provided in early-January. Paid prescriptions for the 4Q period totaled 5,730, up sequentially from 4,740. R&D and SG&A expense line items totaled $10.6MM and $27.6MM, respectively, which were lower than expected. EPS tracked ($1.06) vs. the consensus of ($1.33), attributable to lower-than-anticipated operating expenses. The Co. ended the December 31st 2018 period w/ cash of $211MM, w/ cash used in the 4Q period ~$22MM.”
According to TipRanks.com, Byrnes is a 2-star analyst with an average return of 1.2% and a 34.8% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Flexion Therapeutics, Heron Therapeutics, and vTv Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Adamas Pharmaceuticals with a $22.20 average price target, a 155.2% upside from current levels. In a report released today, Piper Jaffray also maintained a Buy rating on the stock with a $23 price target.
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MyoKardia Inc (MYOK)
Cowen & Co. analyst Ritu Baral maintained a Buy rating on MyoKardia Inc today and set a price target of $73. The company’s shares opened today at $51.24.
According to TipRanks.com, Baral is a top 100 analyst with an average return of 29.4% and a 52.8% success rate. Baral covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Allena Pharmaceuticals Inc, and Scholar Rock Holding Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for MyoKardia Inc with a $79.67 average price target, which is a 55.5% upside from current levels. In a report issued on February 21, BMO Capital also initiated coverage with a Buy rating on the stock with a $85 price target.
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