There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on ImmunoGen (IMGN), Agile Therapeutics (AGRX) and AVEO Pharma (AVEO) with bullish sentiments.
ImmunoGen (IMGN)
In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on ImmunoGen, with a price target of $18. The company’s shares closed yesterday at $5.73, close to its 52-week low of $5.27.
Chattopadhyay said:
“Our 12-month, $18 price target on shares of ImmunoGen is based on a 13-year DCF-driven, sum-of-the-parts analysis. Our DCF analysis is based on: beta of 1.75, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 12.0%, and tax rate of 12% beginning in FY 2028. Note, our $18 price target is leveraged on the outcome of the mirvetuximab soravtansine’s Phase 3 FORWARD I study, which represents approximately 89% of our target (risk-adjusted NPV of $16 per share). Key risks to our valuation include: emergence of ADC-related safety concerns, clinical, regulatory, and financials risks. ImmunoGen, Inc.”
According to TipRanks.com, Chattopadhyay is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.1% and a 37.7% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ImmunoGen with a $17.33 average price target.
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Agile Therapeutics (AGRX)
In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on Agile Therapeutics, with a price target of $4. The company’s shares closed yesterday at $1.02, close to its 52-week low of $0.23.
Livnat commented:
“We expect that meeting will happen by late- November or early-December. Assuming no negative surprises, like an unfeasible non-inferiority margin requirement vs. Xulane, we’d expect Agile could commence dosing by early-January 2019 at the latest. Note that Agile, per an 8-K filing, already entered a clinical research agreement with TKL Research, a specialist dermatology-focused CRO, to potentially conduct the wear study. Again, barring unexpected study complexity, we see no reason why a study couldn’t be very quickly completed, with typical single-arm studies lasting just a week, so this two-arm study likely just two weeks. Assuming acceptable adhesion, we could see an NDA filing by early-2Q19, followed by a likely Advisory Committee meeting to assess Twirla’s efficacy profile.”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 6.7% and a 59.0% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Pacira Pharmaceuticals, Jazz Pharmaceuticals, and Cara Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Agile Therapeutics with a $4 average price target.
AVEO Pharma (AVEO)
In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on AVEO Pharma, with a price target of $9. The company’s shares closed yesterday at $2.54.
Ramakanth wrote:
“We maintain our Buy rating on AVEO and raise our 12- month price target to $9.00 per share, up from $6.50. We derive our price target based on a risk-adjusted NPV analysis of projected tivozanib and ficlatuzumab revenues through 2030 assuming a 12.5% discount rate and 3% terminal growth rate.”
According to TipRanks.com, Ramakanth is a 3-star analyst with an average return of 1.2% and a 35.6% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Trillium Therapeutics.
Currently, the analyst consensus on AVEO Pharma is a Strong Buy with an average price target of $6.33, a 149.2% upside from current levels. In a report issued on October 22, Piper Jaffray also reiterated a Buy rating on the stock with a $5 price target.
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