There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Evofem Biosciences Inc (NASDAQ:EVFM) and Zoetis (NYSE:ZTS) with bullish sentiments.
Evofem Biosciences Inc (EVFM)
In a report released today, Leland Gershell from Oppenheimer maintained a Buy rating on Evofem Biosciences Inc, with a price target of $9. The company’s shares closed yesterday at $1.99, close to its 52-week low of $1.79.
Gershell commented:
“The most notable update from EVFM’s 2Q18 report is that it now expects to report top-line results from the pivotal AMPOWER trial in late 2018, earlier than its prior 1Q19 guidance. As a reminder, the trial’s threshold for success is a cumulative pregnancy rate over seven cycles of <16.5%. With Amphora's prior Phase 3 trial having demonstrated a 10.5% rate with typical use of the product, we are optimistic for a positive outcome. As a hormone-free, use-as-needed contraceptive option for women, Amphora represents a unique product profile within the ~$5.5B US prescription contraceptive market. We expect Amphora to launch in 2020, and to ramp to peak 2032 sales of $345M. We have updated our estimates to reflect recent company developments."
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -14.2% and a 16.7% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Urogen Pharma Ltd, and Catalyst Pharma.
Evofem Biosciences Inc has an analyst consensus of Strong Buy, with a price target consensus of $10.75.
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Zoetis (ZTS)
Stifel Nicolaus analyst Jonathan Block reiterated a Buy rating on Zoetis today and set a price target of $95. The company’s shares closed yesterday at $91.43, close to its 52-week high of $91.80.
According to TipRanks.com, Block is a 5-star analyst with an average return of 24.0% and a 77.7% success rate. Block covers the Healthcare sector, focusing on stocks such as DENTSPLY SIRONA Inc, Idexx Laboratories, and Align Tech.
Currently, the analyst consensus on Zoetis is a Strong Buy with an average price target of $94.17, which is a 3.0% upside from current levels. In a report issued on July 30, Merrill Lynch also maintained a Buy rating on the stock with a $100 price target.
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