Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Alder Biopharmaceuticals (NASDAQ: ALDR), MiMedx Group (NASDAQ: MDXG) and Mesoblast Ltd (NASDAQ: MESO).
Alder Biopharmaceuticals (NASDAQ: ALDR)
In a report released today, Sumant Kulkarni from Canaccord Genuity maintained a Buy rating on Alder Biopharmaceuticals (NASDAQ: ALDR), with a price target of $20. The company’s shares opened today at $18.25, close to its 52-week high of $20.
Kulkarni observed:
“We like incoming CEO Azelby’s commercial and business development experience This morning, ALDR announced that it appointed Robert Azelby as CEO and a member of the board. Mr. Azelby is a biotech industry veteran who was most recently EVP/chief commercial officer at Juno Therapeutics, which Celgene acquired earlier this year. Prior to that, he spent several years at Amgen, where he gained US and ex-US experience, and was eventually involved in leading the US oncology unit. He was also a board member at Cascadian Therapeutics, which Seattle Genetics bought in Mar-18. We are yet to speak with Mr.”
According to TipRanks.com, Kulkarni is a 3-star analyst with an average return of 4.2% and a 51.3% success rate. Kulkarni covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Intra-Cellular Therapies, and Voyager Therapeutics Inc.
Currently, the analyst consensus on Alder Biopharmaceuticals is Strong Buy and the average price target is $22.83, representing a 25.1% upside.
In a report issued on May 31, RBC Capital also maintained a Buy rating on the stock with a $24 price target.
See today’s analyst top recommended stocks >>
MiMedx Group (NASDAQ: MDXG)
In a report released today, Michael Matson from Needham maintained a Hold rating on MiMedx Group (NASDAQ: MDXG). The company’s shares opened today at $5.88, close to its 52-week low of $5.80.
Matson noted:
“On 6/7/18, MDXG announced that it plans to restate its financial results from 2012-3Q17 and withdrew its previous 2018 guidance. MDXG also announced the departure of both its CFO and the appointment of Edward Borkowski as Interim CFO. While we believe MDXG could be worth more than where it is trading today (~$6-7), we also believe that there are near-term risks including the restatement and potential delisting that could lead to additional downside and we maintain our Hold rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 10.5% and a 62.9% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
MiMedx Group has an analyst consensus of Hold.
Mesoblast Ltd (NASDAQ: MESO)
Maxim Group analyst Jason McCarthy maintained a Buy rating on Mesoblast Ltd (NASDAQ: MESO) today and set a price target of $14. The company’s shares opened today at $6.02.
McCarthy wrote:
“Mesoblast reported (5/30) the March quarter (FY June) with a net loss of $21M and ended the period with $59.5M in cash on the balance sheet. The company has a $75M 4-year credit facility of which $35M was drawn in March. We estimate the company has runway into 4Q18.”
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 13.8% and a 44.3% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
Currently, the analyst consensus on Mesoblast Ltd is Strong Buy and the average price target is $15.20, representing a 152.5% upside.
In a report released today, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $17 price target.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
