There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Editas Medicine Inc (NASDAQ:EDIT) and Kura Oncology (NASDAQ:KURA) with bullish sentiments.
Editas Medicine Inc (EDIT)
In a report released today, Gbola Amusa from Chardan Capital reiterated a Buy rating on Editas Medicine Inc, with a price target of $55. The company’s shares closed yesterday at $29.09.
Amusa wrote:
“We would view tangible progress on the LCA10 program as a strong positive for the company’s follow-on ocular programs, particularly in Usher syndrome, which would use the same AAV vectors and promoters as EDIT-101 to drive editing in photoreceptor cells. As we discuss in the Framework (see CGEF), validated delivery routes and demonstrated therapeutic thresholds can accelerate the development of therapeutics for follow-on indications.”
According to TipRanks.com, Amusa is a 5-star analyst with an average return of 25.0% and a 54.4% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Applied Genetic Technologies.
Currently, the analyst consensus on Editas Medicine Inc is a Moderate Buy with an average price target of $47, a 61.6% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock.
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Kura Oncology (KURA)
In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Kura Oncology, with a price target of $31. The company’s shares closed yesterday at $21.15, close to its 52-week high of $24.03.
Pantginis noted:
“Valuation and impediments to achieving price target. We reiterate our Buy rating and $31 price target. Our valuation is based on our clinical net present value (NPV) model, which 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. Kura Oncology, Inc.”
According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -13.8% and a 31.2% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Checkpoint Therapeutics Inc.
Currently, the analyst consensus on Kura Oncology is a Strong Buy with an average price target of $33, representing a 56.0% upside. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $35 price target.
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