There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Eagle Pharmaceuticals Inc (NASDAQ:EGRX) and Xencor Inc (NASDAQ:XNCR) with bullish sentiments.
Eagle Pharmaceuticals Inc (EGRX)
Cantor Fitzgerald analyst Brandon Folkes reiterated a Buy rating on Eagle Pharmaceuticals Inc today and set a price target of $81. The company’s shares opened today at $82.89, close to its 52-week high of $85.66.
Folkes wrote:
“. Post 2Q18, we are reiterating our Overweight rating and a 12-month price target of $81. Eagle has carved out a leading position in the specialty pharma market, focusing on large product opportunities that the company targets via its 505(b)(2) strategy, bringing improved products to market that compete with the incumbent brand. We believe the current stock price offers an attractive risk reward profile, as we expect upwards earnings revisions to the Street’s current forecasts as the company advances its pipeline and provides date-certain launch timeframes for its pipeline, which targets over $3B in net revenues. We model growth for Eagle beyond 2020, driven by Bendamustine durability and the company’s pipeline.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -2.9% and a 40.7% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Collegium Pharmaceutical.
Currently, the analyst consensus on Eagle Pharmaceuticals Inc is a Strong Buy with an average price target of $75.75, a -8.6% downside from current levels. In a report issued on July 24, Piper Jaffray also reiterated a Buy rating on the stock with a $86 price target.
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Xencor Inc (XNCR)
Piper Jaffray analyst Edward Tenthoff reiterated a Buy rating on Xencor Inc today and set a price target of $52. The company’s shares opened today at $38.99.
According to TipRanks.com, Tenthoff is a 4-star analyst with an average return of 10.8% and a 42.1% success rate. Tenthoff covers the Healthcare sector, focusing on stocks such as Eloxx Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Aptevo Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Xencor Inc with a $45.75 average price target.
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