There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Nektar Therapeutics (NKTR) and PTC Therapeutics (PTCT) with bullish sentiments.
Nektar Therapeutics (NKTR)
In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Nektar Therapeutics, with a price target of $81. The company’s shares closed on Friday at $34.02, close to its 52-week low of $33.50.
Yang observed:
“We continue to see merit in the NKTR-214/Opdivo combo as we have not seen evidence that would indicate NKTR-214/Opdivo confers no benefits to patients over current standard of care. We expect continued data updates in various tumor settings over the coming months to drive NKTR shares.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 18.1% and a 45.8% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
Currently, the analyst consensus on Nektar Therapeutics is a Strong Buy with an average price target of $77.25, implying a 127.1% upside from current levels. In a report issued on November 8, Cowen & Co. also maintained a Buy rating on the stock with a $86 price target.
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PTC Therapeutics (PTCT)
In a report released today, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on PTC Therapeutics, with a price target of $61. The company’s shares closed on Friday at $33.76.
Young commented:
“: We are reiterating our Overweight rating, but lowering our price target to $61 from $66, driven by a higher R&D expense run-rate. 3Q Translarna sales were notably lower at $30M vs. Bloomberg consensus of $45M. Management noted lumpiness around quarterly ordering patterns and noted that it had received a “significant” order for Latin America around the end of 3Q. Emflaza was roughly in line with consensus, although the company lowered the high end of 2018 guidance to $90-95M from $90-110M. We think the shares were weak due to questions about trends that underpin Translarna, as the drug has been on the market for almost 4 years in ex-US.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 3.7% and a 46.3% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.
Currently, the analyst consensus on PTC Therapeutics is a Moderate Buy with an average price target of $50.20, implying a 48.7% upside from current levels. In a report issued on November 5, Credit Suisse also maintained a Buy rating on the stock with a $55 price target.
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