There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Aduro BioTech (ADRO), Tocagen Inc (TOCA) and T2 Biosystems (TTOO) with bullish sentiments.
Aduro BioTech (ADRO)
In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Aduro BioTech, with a price target of $7. The company’s shares closed yesterday at $4.28.
Pantginis observed:
“Valuation and risks to price target achievement. We maintain our Buy rating and $7 price target. The STING program currently contributes approximately 53% to our valuation (no contribution from early stage Lilly program currently) and the APRIL program approximately 43%, with the remainder coming from the anti-CD27 program being developed by Merck (MRK; not rated). Our target is based on our clinical net present value (NPV) model. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”
According to TipRanks.com, Pantginis has currently no stars on a ranking scale of 0-5 stars, with an average return of -15.8% and a 28.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Iovance Biotherapeutics Inc.
Currently, the analyst consensus on Aduro BioTech is a Strong Buy with an average price target of $7, implying a 63.6% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $7 price target.
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Tocagen Inc (TOCA)
In a report released today, Gbola Amusa from Chardan Capital reiterated a Buy rating on Tocagen Inc, with a price target of $25. The company’s shares closed yesterday at $11.24.
Amusa noted:
“We note patients in the control arm will be able to receive Optune (developed by unrated Novocure), while patients in the Toca 511 arm will not. We understand Tocagen will be providing the investigational drug material and supplemental support while the bulk of the study will be funded by NRG. Unlike the study in recurrent HGG, the study in newly-diagnosed patients will be limited to glioblastoma to reduce patient heterogeneity. As other forms of newly-diagnosed glioma can exhibit widely varying disease trajectories, we see this strategy as increasing the odds of success in this difficult indication. We reduce our PT from $30 to $25 to account for recent share dilution.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 15.9% and a 47.4% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catalyst Biosciences Inc, and Voyager Therapeutics Inc.
Tocagen Inc has an analyst consensus of Hold.
T2 Biosystems (TTOO)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on T2 Biosystems, with a price target of $14. The company’s shares closed yesterday at $3.76, close to its 52-week low of $2.94.
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -8.8% and a 36.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on T2 Biosystems is a Moderate Buy with an average price target of $7.75, a 106.1% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $11 price target.
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