There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Catalyst Pharma (NASDAQ:CPRX), Celldex (NASDAQ:CLDX) and Aerie Pharma (NASDAQ:AERI) with bullish sentiments.
Catalyst Pharma (CPRX)
In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on Catalyst Pharma, with a price target of $6. The company’s shares closed yesterday at $2.93.
Fein observed:
“Our price target of $6/share is based on an equally weighted composite of: (a) $7.18/ share, as a 35x multiple of taxed and diluted 2024 GAAP EPS of $0.61 discounted back to 2018 at 20%; and (b) an NPV of discounted cash flows between 2018-2024 of $7.18/share (discount rate 12%, growth rate 2%).”
According to TipRanks.com, Fein is a 3-star analyst with an average return of 2.5% and a 46.8% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, Strongbridge Biopharma Plc, and Cyclacel Pharmaceuticals.
Catalyst Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $6, a 104.8% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $6 price target.
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Celldex (CLDX)
In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Celldex, with a price target of $2.15. The company’s shares closed yesterday at $0.48, close to its 52-week low of $0.41.
Pantginis wrote:
“Valuation and risks to price target achievement. We maintain our Buy rating and $2.15 price target. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway. Celldex Therapeutics, Inc.”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -13.0% and a 31.7% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.
Currently, the analyst consensus on Celldex is a Moderate Buy with an average price target of $2.15.
Aerie Pharma (AERI)
H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Aerie Pharma today and set a price target of $78. The company’s shares closed yesterday at $64.75.
Livnat wrote:
“Valuation and risk. We project total company peak sales over $1.5B from the Roclatan and Rhopressa glaucoma franchise (not including earlier stage pipeline) with profitability in 2020. Our $78 price target is based on a DCF reflecting: 80% probability of success (Rhopressa approved, Roclatan low-risk 2019 approval, in our view); 13% WACC discount rate; and 1.5% terminal growth beyond 2027 (reflecting IP in 2030’s, likely life-cycle management, and potential earlier pipeline progress). If entirely de- risked, all else equal, our DCF yields a $98/share valuation or $4.9B MCap.”
According to TipRanks.com, Livnat has 0 stars on 0-5 star ranking scale with an average return of -4.8% and a 45.7% 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 Strong Buy analyst consensus rating for Aerie Pharma with a $82.60 average price target, implying a 27.6% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $86 price target.
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