Analysts have been eager to weigh in on the Healthcare sector with new ratings on Endologix Inc (ELGX), Intercept Pharma (ICPT) and United Therapeutics (UTHR).
Endologix Inc (ELGX)
BTIG analyst Sean Lavin maintained a Buy rating on Endologix Inc on November 1 and set a price target of $4. The company’s shares closed on Friday at $1.31, close to its 52-week low of $1.08.
Lavin said:
“and Endologix reported its Q3 with few surprises given the preannouncement at the early October analyst day. Total revenue of $34.8M came in slightly above the preannounced range. Management said it felt AFX performed well in the US and Latin America, and that Ovation had a nice quarter in the US and Europe. The company reiterated its plan to go deeper into larger accounts and noted that this allowed gross margins to increase in the quarter while spend decreased ~7%. We believe ELGX offers a versatile slew of EVAR options, has a chance to be acquired, and has a shot to show premium data and/or a mortality benefit from the Nellix EVAS2 trial in 2020. We reiterate our Buy.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 12.3% and a 61.0% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
Currently, the analyst consensus on Endologix Inc is a Hold with an average price target of $3.58.
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Intercept Pharma (ICPT)
Jefferies analyst Michael Yee maintained a Buy rating on Intercept Pharma on October 31 and set a price target of $135. The company’s shares closed on Friday at $109.55.
Yee commented:
“Ocaliva PBC sales in-line but new mgmt comments suggest new pt enrollments into the prescription hub picked up noticeably coming out of summer and expanded salesforce should help drive more growth towards $300M+ peak sales providing $50-60/sh downside support. Big upside pot’l from Phase III NASH data est early 2019 should be positive and de-risking event and could have stock +100% and more towards $150-200+ based on our upside scenarios. Key thesis on ICPT right now is we think there is significant upside vs downside into the Phase III NASH data guided for H1:19 (although we think it’s earlier side of that guidance).”
According to TipRanks.com, Yee is a 4-star analyst with an average return of 4.0% and a 50.5% success rate. Yee covers the Healthcare sector, focusing on stocks such as Odonate Therapeutics Llc, Rubius Therapeutics Inc, and Vertex Pharmaceuticals.
Currently, the analyst consensus on Intercept Pharma is a Moderate Buy with an average price target of $142.22, a 29.8% upside from current levels. In a report issued on October 31, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $170 price target.
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United Therapeutics (UTHR)
In a report issued on October 31, Eun Yang from Jefferies maintained a Sell rating on United Therapeutics, with a price target of $98. The company’s shares closed on Friday at $114.64.
Yang noted:
“In 3Q, a products sales beat (vs our est/cons) largely resulted from no Remodulin generic launch yet & lower-than-expected impact from Adcirca generic (launched in Aug.). While 3Q results were better than expected, declining revenues & looming generic threats (uncertain magnitudes of impact), coupled with increasing OpEx, keep us cautious on UTHR shares. In 3Q18, ~24%/8% higher total revenue of ~$413M (vs ours/cons) (Chart 1) included ~47%/5% higher ~17%/13% higher ~25%/9% higher Adcirca sales of $75M (generic entry on 8/13/18) & ~2%/4% lower Orenitram of $54M.”
According to TipRanks.com, Yang is a 4-star analyst with an average return of 5.5% and a 52.1% success rate. Yang covers the Healthcare sector, focusing on stocks such as Dova Pharmaceuticals Inc, Amag Pharmaceuticals, and Array Biopharma.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for United Therapeutics with a $142.40 average price target.
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