Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Lexicon Pharmaceuticals (LXRX), Cellular Biomedicine Group (CBMG) and MacroGenics (MGNX).
Lexicon Pharmaceuticals (LXRX)
In a report released today, Alan Carr from Needham maintained a Hold rating on Lexicon Pharmaceuticals. The company’s shares opened today at $5.80, close to its 52-week low of $5.29.
Carr observed:
“The FDA Cmtee voted 8-8 on Zynquista approval for Type 1 Diabetes (T1D). We now believe FDA approval in this indication is possible, but not probable (PDUFA 3/22/19) and have removed the revenue stream from our model. Diabetic Ketoacidosis, as expected, was the focus of the mtg. Nearly all members, regardless of vote, believed that the drug would only be appropriate for a small subset of particularly attentive T1D patients. As a reminder, 11 Phase 3 trials are underway by collaborator 2 Diabetes. We continue to have a favorable bias towards a positive outcome from that program (DKA risk is smaller in T2D and sotagliflozin may have advantages over SGLT2 inhibitors in T2D patients w/ renal impairment), but we remain on sidelines for now. HOLD.”
According to TipRanks.com, Carr is a 3-star analyst with an average return of 2.1% and a 41.9% success rate. Carr covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Iterum Therapeutics Plc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lexicon Pharmaceuticals with a $17.50 average price target.
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Cellular Biomedicine Group (CBMG)
In a report released yesterday, George Zavoico from B.Riley FBR maintained a Buy rating on Cellular Biomedicine Group, with a price target of $38. The company’s shares opened today at $20.22.
Zavoico said:
“This morning, Inc., (CBMG) announced that AlloJoin, its off-the-shelf, allogeneic, human adipose tissue-derived mesenchymal progenitor cell (haMPC) therapy, was granted approval to advance into a Phase II clinical trial in China. This follows submission of an IND application to the NMPA (National Medical Products Administration; formerly the 60-day priority review period. With regulatory reforms designed to bring the Chinese pharmaceutical and biotech industry up to international standards in place, CBMG was compelled to submit an IND to the NMDA despite having successfully completed a small Phase I trial of AlloJoin early in 2018.”
According to TipRanks.com, Zavoico is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.5% and a 40.4% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Miragen Therapeutics Inc, and Asterias Biotherapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cellular Biomedicine Group with a $38 average price target.
MacroGenics (MGNX)
Cowen & Co. analyst Boris Peaker maintained a Buy rating on MacroGenics today. The company’s shares opened today at $12.58, close to its 52-week low of $11.16.
According to TipRanks.com, Peaker is a 4-star analyst with an average return of 4.2% and a 41.4% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Corvus Pharmaceuticals Inc, and Stemline Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MacroGenics with a $27.50 average price target, implying an 118.6% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $34 price target.
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