There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Allogene Therapeutics Inc (ALLO), Synlogic Inc (SYBX) and Zynerba Pharmaceuticals (ZYNE) with bullish sentiments.
Allogene Therapeutics Inc (ALLO)
Cowen & Co. analyst Phil Nadeau maintained a Buy rating on Allogene Therapeutics Inc yesterday. The company’s shares closed yesterday at $26.72.
According to TipRanks.com, Nadeau is a 5-star analyst with an average return of 8.3% and a 49.3% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Voyager Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Allogene Therapeutics Inc with a $29 average price target.
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Synlogic Inc (SYBX)
In a report released yesterday, Mark Breidenbach from Oppenheimer maintained a Buy rating on Synlogic Inc, with a price target of $15. The company’s shares closed yesterday at $7.74.
Breidenbach noted:
“Tuesday, Synlogic reported 4Q results and reviewed recent progress. Management reiterated plans to present topline results from ongoing Phase 1/2 trials of by mid-year, which could establish POC in patients with hyperammonemia and phenylketonuria (PKU), respectively. While these trials utilize bacterial slurry formulations, management indicated future trials would use pill-based formulations. While the transition may require clinical bridging studies, we view the new formulations as essential for commercial viability. If the SYNB1020 demonstrates a meaningful impact on serum ammonia, next steps could include a trial in urea cycle disorders (UCD), an indication with an established biomarker-based registrational endpoint. With $123M in cash, we believe Synlogic has adequate resources to sustain operations through 2020. $15 PT.”
According to TipRanks.com, Breidenbach is a 1-star analyst with an average return of -1.8% and a 37.6% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
Currently, the analyst consensus on Synlogic Inc is a Strong Buy with an average price target of $20.67, which is a 167.1% upside from current levels. In a report released yesterday, Chardan Capital also reiterated a Buy rating on the stock with a $20 price target.
Zynerba Pharmaceuticals (ZYNE)
Ladenburg analyst Michael Higgins maintained a Buy rating on Zynerba Pharmaceuticals yesterday and set a price target of $26. The company’s shares closed yesterday at $5.11.
According to TipRanks.com, Higgins ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.8% and a 32.1% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Melinta Therapeutics Inc, Paratek Pharmaceuticals, and Ovid Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zynerba Pharmaceuticals with a $18.50 average price target, representing a 262.0% upside. In a report issued on March 7, Cantor Fitzgerald also maintained a Buy rating on the stock with a $11 price target.
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