There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Eiger Biopharmaceuticals (NASDAQ:EIGR) and Sorrento Therapeutics (NASDAQ:SRNE) with bullish sentiments.
Eiger Biopharmaceuticals (EIGR)
In a report released yesterday, Madhu Kumar from B.Riley FBR reiterated a Buy rating on Eiger Biopharmaceuticals, with a price target of $21. The company’s shares opened today at $9.60.
Kumar said:
“BioPharmaceuticals (EIGR) announced 2Q18 earnings and provided a corporate update. We continue to reiterate that Eiger’s lead asset, prenylation and CYP3A inhibitor combination lonafarnib and ritonavir (L/R), has the potential to transform the treatment of chronic hepatitis δ virus (HDV) infection, with the start of the Phase III D-LIVR trial, guided for 4Q18, to serve potentially as a positive catalyst for EIGR shares. After 2Q18 earnings, while we lower our price target from $24 to $21, we reiterate our Buy rating on EIGR shares.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 27.3% and a 50.4% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Clementia Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Eiger Biopharmaceuticals with a $31.75 average price target, implying a 230.7% upside from current levels. In a report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $53 price target.
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Sorrento Therapeutics (SRNE)
B.Riley FBR analyst Andrew D’silva maintained a Buy rating on Sorrento Therapeutics today and set a price target of $15. The company’s shares opened today at $5.45.
D’silva commented:
“Sorrento Therapeutics (SRNE) filed its 10-Q for 2Q18, and provided an update on its Phase Ib resiniferatoxin (RTX) trial in osteoarthritis (OA), BMO yesterday, 8/13; SRNE does not host a conference call. Its 2Q18 top-line/adj. EPS came in at $3.9M/($0.25), compared to our/consensus’ estimates of $4.1M/($0.20) and $3.3M/($0.20), respectively. The EPS miss was primarily due to higher R&D, as SRNE continues to advance its pipeline and likely began spending on its RTX candidate for OA in humans during the period. While the majority of SRNE’s long-term value is locked in its product pipeline, we continue to believe the risk/reward dynamic, related to its various candidates, is favorable: The company has numerous high-value opportunities that primarily extend across immuno-oncology (IO), pain management, and animal health.”
According to TipRanks.com, D’silva is a 5-star analyst with an average return of 26.8% and a 53.1% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cytori Therapeutics Inc, Oramed Pharmaceuticals, and Kindred Biosciences.
Sorrento Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $21.42, a 293.0% upside from current levels. In a report issued on August 10, Oppenheimer also assigned a Buy rating to the stock with a $10 price target.
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