Analysts have been eager to weigh in on the Healthcare sector with new ratings on Concert Pharma (NASDAQ:CNCE) and Teva Pharma (NYSE:TEVA).
Concert Pharma (CNCE)
Mizuho Securities analyst Difei Yang maintained a Buy rating on Concert Pharma today and set a price target of $27. The company’s shares opened today at $16.18, close to its 52-week low of $13.57.
Yang noted:
“We do not see earnings as the most meaningful indicator of value for a development-stage biotech. More importantly, Concert continues its steady progress on the clinical development front. A key catalyst is expected in 4Q18 with top-line readouts from the phase 2a trial of CTP-543 in alopecia areata at the 4 mg and 8 mg doses. A protocol amendment is also planned to evaluate the highest 12 mg dose. We anticipate data from the high-dose cohort will likely read out in 4Q19.”
According to TipRanks.com, Yang is a top 100 analyst with an average return of 24.1% and a 55.8% 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 Moderate Buy analyst consensus rating for Concert Pharma with a $26.50 average price target.
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Teva Pharma (TEVA)
In a report released today, Louise Chen from Cantor Fitzgerald maintained a Hold rating on Teva Pharma, with a price target of $25. The company’s shares opened today at $22.88.
Chen observed:
“. Post TEVA’s beat and raise quarter, we maintain our Neutral rating and 12-month PT of $25. We think TEVA has a good plan in place to return the company to growth. That said, implementation and positive results from its efforts will take time, in our view. We would be more positive on TEVA shares if generic drug pricing were to improve and/or the brand drug launches and pipeline advancements were to exceed expectations.”
According to TipRanks.com, Chen ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.3% and a 40.2% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Melinta Therapeutics Inc, and Aclaris Therapeutics Inc.
Currently, the analyst consensus on Teva Pharma is a Hold with an average price target of $21.91, a -4.2% downside from current levels. In a report issued on July 31, RBC Capital also reiterated a Hold rating on the stock with a $19 price target.
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