There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Advaxis (NASDAQ:ADXS) and Concert Pharma (NASDAQ:CNCE) with bullish sentiments.
Advaxis (ADXS)
In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Advaxis, with a price target of $2. The company’s shares closed yesterday at $0.85, close to its 52-week low of $0.84.
Ramakanth said:
“We maintain our Buy rating of ADXS and lower our 12- month price target to $2.00 per diluted share (from $3.00). We derive our price target based on the average of two valuation methods: (1) price- sales multiple (6x 2026 sales estimate at 14% discount); and (2) price- earnings multiple (19x 2026 earnings estimate at 14% discount).”
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 8.7% and a 41.6% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Trillium Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Advaxis with a $2 average price target.
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Concert Pharma (CNCE)
H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Concert Pharma today and set a price target of $26. The company’s shares closed yesterday at $14.10, close to its 52-week low of $13.55.
Fein commented:
“Our price target of $26/share is comprised of $15.19 from CTP-543 in AA + $3.18 from AVP-786 in AD agitation + $8.09 in cash and is based on a discounted cash flow analysis (2018-2026) using a 12% discount rate and 1% growth rate, in line with the expected discount and growth parameters of a development-stage biotechnology company.”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 5.8% and a 46.2% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Concert Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $26.50.
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