There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on BioNano Genomics Inc (NASDAQ:BNGO) and MannKind (NASDAQ:MNKD) with bullish sentiments.
BioNano Genomics Inc (BNGO)
Maxim Group analyst Jason McCarthy maintained a Buy rating on BioNano Genomics Inc today and set a price target of $11. The company’s shares closed yesterday at $6.72.
McCarthy wrote:
“On 11/1 Illumina (ILMN – NR) announced it will acquire Pacific Biosciences (PACB – 71% premium to the 30-day VWAP of PACB shares. The deal is expected to close in 2019.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 6.9% and a 44.0% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
BioNano Genomics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $11.50.
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MannKind (MNKD)
In a report released today, Oren Livnat from H.C. Wainwright maintained a Buy rating on MannKind, with a price target of $4. The company’s shares closed yesterday at $1.92.
Livnat noted:
“We had already been below the low-end of that. We don’t think investors had put much stock in the target at this point, and are likely relieved to have no guidance until the product—now supported by cash resources and published STAT data—can get onto a consistent growth trend. The company indicated that internal metrics are consistent with at least 10% month-over-month growth in October, and are confident in solid sequential growth in 4Q. We’ve had to take down near-term estimates down on slower growth, dropping our Afrezza Rx volume projections 23% in 4Q18 and 26% in 2019-2020. However, we assume lower gross-to-net discounts going forward, with price- protection contracts expiring January 2019, so our Afrezza net sales estimates drop a smaller 14-15%, and that is partially offset by lower projected OPEX (Figure 2).”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 7.6% and a 61.3% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, Pacira Pharmaceuticals, and Jazz Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MannKind with a $4 average price target.
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