There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on MEI Pharma (MEIP) and T2 Biosystems (TTOO) with bullish sentiments.
MEI Pharma (MEIP)
In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on MEI Pharma, with a price target of $10. The company’s shares closed yesterday at $2.66.
Fein commented:
“ASCO Intermittent dosing decreases toxicity while maintaining efficacy. The data presented at ASCO reinforce our positive view on ME-401’s potential in B-cell lymphomas, and lends additional evidence supporting the intermittent schedule (IS) as enhancing the drug’s clinical profile. We highlight the following data points that speak to the advantages of IS: (1) IS reduced toxicity. The rate of Grade 3 diarrhea/colitis was 16.1% in CS vs. 8.7% in IS, and the rate of Grade 3 rash was 12.9% in CS vs. 0% in IS. Meanwhile, treatment discontinuation rate due to adverse events (AEs) was 13% in CS vs. 0% in IS; (2) IS is sufficient to maintain treatment efficacy.”
According to TipRanks.com, Fein is a 2-star analyst with an average return of 0.3% and a 39.2% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, DBV Technologies SA – American, and Proteostasis Therapeutics Inc.
Currently, the analyst consensus on MEI Pharma is a Moderate Buy with an average price target of $8.50.
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T2 Biosystems (TTOO)
H.C. Wainwright analyst Yi Chen reiterated a Buy rating on T2 Biosystems today and set a price target of $10. The company’s shares closed yesterday at $1.64, close to its 52-week low of $1.60.
According to TipRanks.com, Chen has currently no stars on a ranking scale of 0-5 stars, with an average return of -26.4% and a 35.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aslan Pharmaceuticals Ltd, Seelos Therapeutics Inc, and Eyenovia Inc.
Currently, the analyst consensus on T2 Biosystems is a Strong Buy with an average price target of $10.50, which is a 540.2% upside from current levels. In a report issued on May 24, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $10 price target.
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