There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on G1 Therapeutics Inc (GTHX), Mirati Therapeutics (MRTX) and Pulse Biosciences (PLSE) with bullish sentiments.
G1 Therapeutics Inc (GTHX)
B.Riley FBR analyst Harshita Polishetty reiterated a Buy rating on G1 Therapeutics Inc yesterday and set a price target of $55. The company’s shares closed yesterday at $21.40, close to its 52-week low of $13.87.
Polishetty commented:
“Yesterday evening (04/29), G1 Therapeutics announced positive feedback from its end-of-Phase II meeting with the FDA for trilaciclib for myelopreservation in small cell lung cancer (SCLC). The FDA indicated that the company doesn’t need to conduct additional trials in SCLC and could file for approval based on currently available data. As a reminder, trilaciclib is being evaluated in four randomized Phase II clinical trials, three of which are in SCLC. Based on the FDA interactions, the company’s next steps involve requesting a pre-New Drug Application (NDA) meeting with the FDA, which we expect to take place in 2H19. We had an opportunity to speak with management, and they indicated that the company plans to work on the NDA and Marketing Authorization Application (MAA) in parallel, with an NDA filing expected in 2020.”
According to TipRanks.com, Polishetty is a 3-star analyst with an average return of 6.5% and a 64.3% success rate. Polishetty covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Karyopharm Therapeutics, and ChemoCentryx.
G1 Therapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $63.50, which is a 196.7% upside from current levels. In a report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $72 price target.
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Mirati Therapeutics (MRTX)
H.C. Wainwright analyst Edward White maintained a Buy rating on Mirati Therapeutics today and set a price target of $84. The company’s shares closed yesterday at $59.49.
White commented:
“We are lowering our FY19E EPS estimate to ($4.83) from ($3.78) due to our increased expense estimates. Mirati ended 1Q19 with $301.0M in cash and equivalents. the company raised net proceeds of $107.9M from a public equity offering. We continue to believe Mirati has a cash runway through 2020.”
According to TipRanks.com, White is a 5-star analyst with an average return of 13.8% and a 48.3% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Aileron Therapeutics Inc.
Currently, the analyst consensus on Mirati Therapeutics is a Moderate Buy with an average price target of $80.71, which is a 35.7% upside from current levels. In a report issued on April 29, Oppenheimer also maintained a Buy rating on the stock with a $77 price target.
Pulse Biosciences (PLSE)
In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Pulse Biosciences, with a price target of $27. The company’s shares closed yesterday at $16.02.
Ramakanth commented:
“We maintain our Buy rating of PLSE and our 12-month price target of $27 per share. We derive our price target based on a risk- adjusted NPV (rNPV) analysis of projected CellFX revenues through 2030 assuming a 12.5% discount rate, formulated by our calculation of Pulse’s weighted average cost of capital, and a 3% terminal growth rate.”
According to TipRanks.com, Ramakanth has 0 stars on 0-5 star ranking scale with an average return of -9.2% and a 32.7% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Gritstone Oncology Inc.
Currently, the analyst consensus on Pulse Biosciences is a Moderate Buy with an average price target of $27.
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