There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Kindred Biosciences (KIN), Kala Pharmaceuticals Inc (KALA) and Coherus Biosciences (CHRS) with bullish sentiments.
Kindred Biosciences (KIN)
H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Kindred Biosciences today and set a price target of $19. The company’s shares closed yesterday at $8.97, close to its 52-week low of $8.04.
Ramakanth commented:
“We maintain our Buy rating of KIN and our 12-month price target of $19.00 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 a 3% terminal growth rate. We derive an rNPV of $764M for the pipeline products and add in $96M in cash and cash equivalents to arrive at a 12-month price target of $18.57 per diluted share, which we round to $19.00. Risks: (1) clinical and regulatory; (2) commercial; (3) partnership; (4) financial; and (5) intellectual property.”
According to TipRanks.com, Ramakanth is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.7% and a 32.2% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Gritstone Oncology Inc.
Currently, the analyst consensus on Kindred Biosciences is a Strong Buy with an average price target of $19.50, an 117.4% upside from current levels. In a report issued on April 26, Cantor Fitzgerald also maintained a Buy rating on the stock with a $25 price target.
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Kala Pharmaceuticals Inc (KALA)
H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Kala Pharmaceuticals Inc today and set a price target of $15. The company’s shares closed yesterday at $6.94.
Selvaraju observed:
“As we roll forward the DCF analysis, the estimated market value of the firm has increased to $515M from $505M, which includes a discounted cash flow-based asset value of $590M for INVELTYS (100% probability of success) and KPI-121 0.25% (65% probability of success), with a 15% discount rate and 0.5%.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 1.7% and a 38.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Kala Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $23, implying a 231.4% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $11 price target.
Coherus Biosciences (CHRS)
In a report released today, Douglas Tsao from H.C. Wainwright maintained a Buy rating on Coherus Biosciences, with a price target of $28. The company’s shares closed yesterday at $16.10.
According to TipRanks.com, Tsao is a 3-star analyst with an average return of 2.7% and a 54.2% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Crinetics Pharmaceuticals Inc, Revance Therapeutics, and Radius Health.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Coherus Biosciences with a $28.20 average price target.
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