There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on ImmunoGen (NASDAQ:IMGN) and G1 Therapeutics Inc (NASDAQ:GTHX) with bullish sentiments.
ImmunoGen (IMGN)
H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on ImmunoGen today and set a price target of $18. The company’s shares closed on Friday at $7.43.
Chattopadhyay said:
“The augmented balance sheet takes ImmunoGen into its potential marketing approval in 2020, in our view. ImmunoGen announced the closing of its previously disclosed underwritten public offering that netted approximately $163M on ImmunoGen’s balance sheet. As a result, ImmunoGen has ended 2Q18 with roughly $345.1M in cash and equivalents, and its bolstered balance sheet takes ImmunoGen one-plus years past the Phase 3 readout from the fully- enrolled FORWARD I program expected during 1H19, based on our calculations.”
According to TipRanks.com, Chattopadhyay is ranked 0 out of 5 stars with an average return of -4.4% and a 36.3% 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 $19 average price target.
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G1 Therapeutics Inc (GTHX)
H.C. Wainwright analyst Edward White maintained a Buy rating on G1 Therapeutics Inc today and set a price target of $75. The company’s shares closed on Friday at $46.81.
White wrote:
“Due to the dilution associated with the capital raise last quarter, we are lowering our price target to $75 from $79. We base our $75 price target on probability-adjusted revenue forecasts for trilaciclib in first line SCLC, second and third line SCLC, and metastatic TNB cancer plus lerociclib in ER+, HER2- breast cancer and EGFR mutant NSCLC.”
According to TipRanks.com, White is a 5-star analyst with an average return of 16.1% and a 47.1% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Currently, the analyst consensus on G1 Therapeutics Inc is a Strong Buy with an average price target of $78.33.
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