Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Corcept Therapeutics Inc (CORT) and ANI Pharmaceuticals Inc (ANIP).
Corcept Therapeutics Inc (CORT)
In a report released yesterday, David Buck from B.Riley FBR maintained a Hold rating on Corcept Therapeutics Inc, with a price target of $12. The company’s shares opened today at $12.06.
Buck observed:
“We reiterate our Neutral rating for Corcept (CORT) shares and our $12 per share price target. Corcept’s results for 4Q18 were in line with CORT’s pre-announcement with 4Q18 revenues of $66.8M, up 25.8% Y/Y , representing a slowdown from 50.7% growth in 3Q18. Full year 2018 sales, all from Korlym (Cushing’s Syndrome), grew 58% Y/Y and adjusted EPS grew 68% Y/Y . We maintain our full year adjusted EPS forecasts at 1.02 for 2019, $1.20 for 2020, and $1.10 for 2021 (at a fully taxed 25% rate), which reflects slowing revenue growth and continued investment spending on R&D. Corcept’s disclosure of Phase II top-line data for follow-on Cushing’s Syndrome drug relacorilant was positive as was an additional clinical update.”
According to TipRanks.com, Buck is ranked 0 out of 5 stars with an average return of -3.8% and a 37.3% success rate. Buck covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Supernus Pharmaceuticals, and Amag Pharmaceuticals.
Corcept Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $17, representing a 41.0% upside. In a report released yesterday, Cantor Fitzgerald also reiterated a Hold rating on the stock with a $14 price target.
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ANI Pharmaceuticals Inc (ANIP)
In a report released today, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on ANI Pharmaceuticals Inc, with a price target of $74. The company’s shares opened today at $64.58.
Folkes commented:
“. Post 4Q18, we are reiterating our Overweight rating and our 12-month price target of $74. The company continues to advance its potentially transformational corticotropin product, and has committed to an sNDA filing goal of 1Q2020, while continuing to deliver strong top and bottom line growth. If ANIP is successful in gaining approval for this product, and is able to capture a small portion of the Acthar market, this could result in an additional $150MM+ in revenue for the company. For context, the midpoint of the company’s 2019 revenue guidance is $238MM.”
According to TipRanks.com, Folkes is a 3-star analyst with an average return of 2.1% and a 38.8% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
ANI Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $74.
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