Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Miragen Therapeutics Inc (NASDAQ:MGEN) and Momenta Pharma (NASDAQ:MNTA).
Miragen Therapeutics Inc (MGEN)
Oppenheimer analyst Leah R. Cann maintained a Buy rating on Miragen Therapeutics Inc today and set a price target of $19. The company’s shares closed on Friday at $5.58, close to its 52-week low of $5.01.
Cann observed:
“We estimate remlarsen (MRG-201) could be a modest revenue contributor to miRagen starting in 2024 in the prevention of keloid formation. The preclinical data presented today, and previously presented, are encouraging for this compound clinically for the prevention of corneal and retinal fibrosis and could result in an additional setting for remlarsen (MRG-201). The timing of the phase II study, which initiated in with these preclinical data presented today, support our outlook for miRagen in the anti-fibrotic setting, and could result in upside to our outlook from corneal fibrosis treatment.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 18.1% and a 54.1% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
Currently, the analyst consensus on Miragen Therapeutics Inc is a Strong Buy with an average price target of $18.83.
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Momenta Pharma (MNTA)
Cantor Fitzgerald analyst Brandon Folkes maintained a Hold rating on Momenta Pharma today and set a price target of $24. The company’s shares closed on Friday at $26.30.
Folkes wrote:
“Given the early-stage nature of the company’s auto immune pipeline, we remain on the sidelines at this valuation. We could be more constructive on MNTA stock if the company is able to advance some of its early-stage, novel drugs and show positive data, as we believe these product candidates may have significant value. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $24.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of -0.2% and a 53.7% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.
Currently, the analyst consensus on Momenta Pharma is a Moderate Buy with an average price target of $32.
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