There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Intra-Cellular Therapies (ITCI) and CymaBay Therapeutics (CBAY) with bullish sentiments.
Intra-Cellular Therapies (ITCI)
In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Intra-Cellular Therapies, with a price target of $32. The company’s shares opened today at $18.32.
Duncan observed:
“We reiterate our Overweight rating and price target of $32. On Wednesday, BMO Intra-Cellular reported 3Q18 financial performance ending the period with cash of $376M. Our model projects sufficient funding through several clinical milestones including NDA acceptance/approval of lumateperone for schizophrenia and P3 data in bipolar depression (two trials, now expected in 1H19). The key questions on the earnings call, which we view as resulting in a market inefficiency, centered on the data analysis and release of the P3 401 & 404 studies of luma’ in BpD. First, we don’t expect the efficacy data for the two studies to be pooled; but analyzed separately at the same time.”
According to TipRanks.com, Duncan is a 2-star analyst with an average return of 0.5% and a 44.6% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Intra-Cellular Therapies with a $32 average price target.
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CymaBay Therapeutics (CBAY)
In a report released today, Jay Olson from Oppenheimer reiterated a Buy rating on CymaBay Therapeutics, with a price target of $18. The company’s shares opened today at $10.90.
Olson said:
“CBAY reported 3Q18 results highlighting progress with seladelpar clinical development. A Ph2b study in NASH should complete enrollment in 1Q19, sooner than previously expected (2Q19). The Ph2b NASH study is currently enrolling up to 175 patients with and NASH confirmation by biopsy. The primary endpoint is relative change in MRI-PDFF at week 12. A Ph3 PBC study is enrolling ~240 patients with similar design to the Ph2 PBC study which has 52-week data to be presented at AASLD, thus providing an important de-risking event for Ph3. CBAY announced (10/30) termination of its gout program which lowers our PT to $18 ($20 prior). We update our model and reiterate our Outperform rating.”
According to TipRanks.com, Olson has 0 stars on 0-5 star ranking scale with an average return of -5.5% and a 37.6% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for CymaBay Therapeutics with a $22 average price target, a 101.8% upside from current levels. In a report issued on November 2, H.C. Wainwright also maintained a Buy rating on the stock with a $23 price target.
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