There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Melinta Therapeutics Inc (NASDAQ:MLNT) and Inovio Pharmaceuticals (NASDAQ:INO) with bullish sentiments.
Melinta Therapeutics Inc (MLNT)
H.C. Wainwright analyst Ed Arce maintained a Buy rating on Melinta Therapeutics Inc today and set a price target of $14. The company’s shares closed on Friday at $4.50, close to its 52-week low of $3.95.
Arce noted:
“We note that, from a historical perspective, there is a very high correlation between CHMP recommendations and EC approvals. As such, we believe final approval is now virtually a no-risk event. Vabomere revenues from Europe are not yet in our model, however, as we recently noted, this approval is likely, in our view, to enable and accelerate potential EU partnership discussions for commercialization rights to Vabomere, Orbactiv and Minocin. As with Baxdela, we believe it likely that the $30M EU approval milestone due on VAbomere is ultimately paid by a future partner. While management continues to demonstrate achievement of stated catalysts, we affirm our Buy rating on MLNT shares.”
According to TipRanks.com, Arce is a 5-star analyst with an average return of 21.6% and a 43.3% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Collegium Pharmaceutical, and Conatus Pharmaceuticals.
Melinta Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $14.50, representing a 222.2% upside. In a report issued on September 18, Cantor Fitzgerald also maintained a Buy rating on the stock with a $15 price target.
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Inovio Pharmaceuticals (INO)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Inovio Pharmaceuticals, with a price target of $13. The company’s shares closed on Friday at $4.73.
Selvaraju commented:
“Our 12-month price target is derived from a market value of the firm at $1.3B, which includes a discounted cash flow-based asset value for 15% discount rate, 2% terminal growth rate and 80% probability of success. Risks include, but are not limited to: (1) failure of VGX-3100 in clinical trials; (2) failure of VGX-3100 to secure regulatory approval; (3) failure of VGX-3100 to achieve commercial success due to market size, penetration rate, and/or competition; and (4) potential failures of other pipeline candidates.”
According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 4.3% and a 44.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Inovio Pharmaceuticals is a Strong Buy with an average price target of $11.
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