There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Insmed (NASDAQ:INSM), Dicerna Pharma (NASDAQ:DRNA) and Kindred Biosciences (NASDAQ:KIN) with bullish sentiments.
Insmed (INSM)
In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on Insmed, with a price target of $43. The company’s shares closed yesterday at $14.01, close to its 52-week low of $13.88.
Fein observed:
“Our price target of $43/share is based on: (a) $40/share, as a 35x multiple of taxed and diluted FY28 GAAP EPS of $7.04 discounted back to and (b) an NPV of $47/share (discount rate 12.0%, growth rate 2%). Risks to our investment thesis and target price include: (1) failure of ALIS in the (2) failure of ALIS to achieve peak commercial revenue estimates in our model due to market size, penetration rates and/or pricing or other limiting factors.”
According to TipRanks.com, Fein is a 5-star analyst with an average return of 9.3% and a 43.2% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Insmed has an analyst consensus of Strong Buy, with a price target consensus of $43.40.
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Dicerna Pharma (DRNA)
In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Dicerna Pharma, with a price target of $24. The company’s shares closed yesterday at $13.66.
According to TipRanks.com, Arce is a 5-star analyst with an average return of 13.3% and a 39.1% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Dicerna Pharma with a $19.17 average price target, representing a 40.3% upside. In a report issued on October 26, Cowen & Co. also maintained a Buy rating on the stock.
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Kindred Biosciences (KIN)
H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Kindred Biosciences today and set a price target of $16. The company’s shares closed yesterday at $12.31.
Ramakanth noted:
“We maintain our Buy rating of KIN and our 12-month price target to $16.00 per share. We derive our price target based on a risk-adjusted net present value analysis of projected product revenues through 2027 assuming a 10% discount rate and 3% terminal growth rate. We derive an rNPV of $395M for the pipeline products and add in $110M in cash and cash equivalents to arrive at a 12-month price target of $15.74 per diluted share, which we round to $16.00.”
According to TipRanks.com, Ramakanth is a 1-star analyst with an average return of -0.8% and a 33.1% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Tyme Technologies Inc.
Kindred Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $19, implying a 54.3% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $25 price target.
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