There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Intec Pharma Ltd (NTEC) and Allogene Therapeutics Inc (ALLO) with bullish sentiments.
Intec Pharma Ltd (NTEC)
Ladenburg analyst Michael Higgins maintained a Buy rating on Intec Pharma Ltd today and set a price target of $15. The company’s shares opened today at $6.29.
Higgins commented:
“We believe Intec’s cash is sufficient into 1H’20, assuming 2H’19 burn is reduced as the ACCORDANCE trial winds down. We continue to look for Intec to secure a U.S. marketing agreement on AP-CD/LD by YE’19, assuming positive ACCORDANCE data and may also secure an upfront payment from Novartis in 2H’19 should AP-Novartis proceed to a Phase 2 trial.”
According to TipRanks.com, Higgins has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.2% and a 34.1% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Paratek Pharmaceuticals, and Zynerba Pharmaceuticals.
Currently, the analyst consensus on Intec Pharma Ltd is a Strong Buy with an average price target of $14.33, which is a 127.8% upside from current levels. In a report issued on April 30, Maxim Group also maintained a Buy rating on the stock with a $12 price target.
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Allogene Therapeutics Inc (ALLO)
Cowen & Co. analyst Phil Nadeau maintained a Buy rating on Allogene Therapeutics Inc today. The company’s shares opened today at $29.77.
According to TipRanks.com, Nadeau is a 5-star analyst with an average return of 9.7% and a 51.8% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Phasebio Pharmaceuticals Inc, and Rocket Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Allogene Therapeutics Inc with a $41 average price target, a 37.7% upside from current levels. In a report issued on May 2, Oppenheimer also initiated coverage with a Buy rating on the stock with a $45 price target.
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