There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Bioxcel Therapeutics Inc (BTAI), Seres Therapeutics (MCRB) and Acelrx (ACRX) with bullish sentiments.
Bioxcel Therapeutics Inc (BTAI)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Bioxcel Therapeutics Inc, with a price target of $25. The company’s shares closed on Friday at $7.77.
Selvaraju commented:
“Valuation methodology, risks, and uncertainties. We utilize a discounted cash flow (DCF)-based assessment, which yields a total rNPV of $400M for for BXCL701. We thus derive a total enterprise value of $575M, which translates into a price objective of $25.00 based on 23M fully-diluted shares outstanding as of end-2019.”
According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.6% and a 34.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Bioxcel Therapeutics Inc is a Moderate Buy with an average price target of $23, which is a 196.0% upside from current levels. In a report issued on March 8, Canaccord Genuity also reiterated a Buy rating on the stock with a $21 price target.
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Seres Therapeutics (MCRB)
H.C. Wainwright analyst Vernon Bernardino reiterated a Buy rating on Seres Therapeutics today and set a price target of $13. The company’s shares closed on Friday at $5.11, close to its 52-week low of $4.42.
Bernardino commented:
“We reiterate our Buy rating but with a PT lowered to $13 from $16 previously. Specifically, we discounted free cash flows for each year by 25%; divided them by our projected number of shares for each year to account for the effects of share dilution; and using a 2% terminal growth rate, and a probability-of-success of 72%, we derived an adjusted per share value of $13. Seres ended 4Q18 with $85.8M in cash and equivalents, which we estimate operationally sufficient into 2H19.”
According to TipRanks.com, Bernardino is ranked #4896 out of 5218 analysts.
Currently, the analyst consensus on Seres Therapeutics is a Strong Buy with an average price target of $14, implying a 174.0% upside from current levels. In a report issued on March 6, Cowen & Co. also maintained a Buy rating on the stock.
Acelrx (ACRX)
In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Acelrx, with a price target of $9. The company’s shares closed on Friday at $3.27.
Arce noted:
“We note that in addition to the unique intrinsic benefits of DSUVIA, the continuing widespread IV opioid shortage across the healthcare system is also likely contributing to strong early demand of DSUVIA, in our view. Another likely driver of early DSUVIA demand, in our view, is the now widely accepted principles of enhanced recovery after surgery (ERAS), which, among other things, recommends avoiding invasive treatments whenever possible. Furthermore, AcelRx has so far executed contracts with group purchasing organizations (GPOs) covering about 80% of its initial launch target hospitals, with over 90% coverage expected by year end. AcelRx set the WAC at $58.31 for each DSUVIA single-dose applicator (SDA), sold as a package of ten.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 7.9% and a 40.1% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
Currently, the analyst consensus on Acelrx is a Strong Buy with an average price target of $8.40, a 156.9% upside from current levels. In a report issued on March 7, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $9 price target.
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