There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Alnylam Pharma (NASDAQ:ALNY), Revance Therapeutics (NASDAQ:RVNC) and Ultragenyx (NASDAQ:RARE) with bullish sentiments.
Alnylam Pharma (ALNY)
BMO Capital analyst Do Kim reiterated a Buy rating on Alnylam Pharma yesterday and set a price target of $127. The company’s shares closed yesterday at $95.22.
According to TipRanks.com, Kim is a 4-star analyst with an average return of 20.3% and a 55.9% success rate. Kim covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Akcea Therapeutics Inc, and VBI Vaccines.
Currently, the analyst consensus on Alnylam Pharma is a Strong Buy with an average price target of $152.29, which is a 59.9% upside from current levels. In a report issued on July 23, Piper Jaffray also reiterated a Buy rating on the stock with a $160 price target.
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Revance Therapeutics (RVNC)
Mizuho Securities analyst Difei Yang maintained a Buy rating on Revance Therapeutics today and set a price target of $48. The company’s shares closed yesterday at $29.75.
Yang noted:
“We do not see earnings as the most meaningful indicator of value for a development-stage biotech. Revance remains on track to report results from the long-term safety study (SAKURA 3) of RT-002 in glabellar lines in 4Q18. Following this, Revance is expected to file its BLA for RT-002 in glabellar lines in 1H19. We continue to see RT-002 as a differentiated long duration neurotoxin that has the potential to seriously challenge the current market order.”
According to TipRanks.com, Yang is a top 100 analyst with an average return of 24.2% and a 55.7% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Revance Therapeutics with a $51.50 average price target, a 73.1% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $50 price target.
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Ultragenyx (RARE)
In a report released yesterday, Arlinda Lee from Canaccord Genuity reiterated a Buy rating on Ultragenyx, with a price target of $90. The company’s shares closed yesterday at $79.58.
According to TipRanks.com, Lee is a 1-star analyst with an average return of 0.0% and a 41.0% success rate. Lee covers the Healthcare sector, focusing on stocks such as Eloxx Pharmaceuticals Inc, Karyopharm Therapeutics, and Aquinox Pharmaceuticals.
Currently, the analyst consensus on Ultragenyx is a Strong Buy with an average price target of $75.71, a -4.9% downside from current levels. In a report issued on July 25, Cowen & Co. also assigned a Buy rating to the stock.
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