Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Forty Seven Inc (FTSV) and Achaogen (AKAO).
Forty Seven Inc (FTSV)
In a report released today, Mark Breidenbach from Oppenheimer maintained a Buy rating on Forty Seven Inc, with a price target of $35. The company’s shares closed yesterday at $15.46.
Breidenbach commented:
“Thursday, Forty Seven announced 4Q results. On its quarterly call, management reiterated plans to present updated Phase 1b/2 results in NHL at a medical conference in 2Q. We expect a significant update including initial efficacy data from ~40 dose expansion patients, along with extended follow-up from ~30 patients in earlier cohorts. If 5F9’s impressive CR rate can be maintained in the ~70 patient update, we believe it could be a strong candidate for Breakthrough Therapy Designation. Additionally, we expect to see initial data from 5F9 combined with azacitidine in AML in 2Q, while updates from ongoing trials in ovarian and colorectal cancer are slated for 4Q. We’d be buyers of FTSV ahead of the key NHL update. Reiterate Outperform, $35 PT.”
According to TipRanks.com, Breidenbach is a 3-star analyst with an average return of 2.0% and a 41.7% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Forty Seven Inc with a $21 average price target.
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Achaogen (AKAO)
In a report released today, Difei Yang from Mizuho Securities maintained a Hold rating on Achaogen. The company’s shares closed yesterday at $0.46, close to its 52-week low of $0.45.
Yang wrote:
“We continue to see significant risk in AKAO shares even though we believe ZEMDRI has strategic value. We maintain our Neutral rating and reduce our PT from $3 to $2.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 17.1% and a 49.6% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
The word on The Street in general, suggests a Hold analyst consensus rating for Achaogen with a $2 average price target.
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