There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Neurocrine (NBIX) and uniQure NV (QURE) with bullish sentiments.
Neurocrine (NBIX)
H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Neurocrine today and set a price target of $102. The company’s shares closed yesterday at $76.77.
Fein commented:
“We point out that the company recorded Ingrezza sales of $136M (+92% over the same period in 2018) and a total script volume of approximately 24,200 in 1Q19. We view this result as a strong indicator of Ingrezza’s penetration in the market place, given that approximately 50,000 TD patients are diagnosed in the US. With respect to Formulary exclusion list announced last week, we do not believe it would have meaningful impact on Ingrezza’s commercial dynamics as the company noted that less than 1% of the Ingrezza business is affected by this exclusion. Provided that this is a one-off case on the payor’s front, we remain comfortable with Ingrezza’s market strength.”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 7.6% and a 45.1% 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 Neurocrine is a Strong Buy with an average price target of $107.91, which is a 40.6% upside from current levels. In a report issued on April 22, J.P. Morgan also upgraded the stock to Buy with a $106 price target.
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uniQure NV (QURE)
H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on uniQure NV today and set a price target of $73. The company’s shares closed yesterday at $56.64.
Chattopadhyay commented:
“Our $73 price target is based on a 12-year DCF analysis that incorporates rNPV of two clinical-stage pipeline products AMT-061 and AMT-130. For AMT-061, we assume a 70% POS driven by the compelling clinical updates and single- arm Phase 3 involving about 50 patients, along with RMAT and PRIME designations. We anticipate commercial launch during 2H22, with a NAB-based exclusion of 5%, and model risk-adjusted peak sales of roughly $900M, during 2028. We assume a launch price of $1M, which could be a low estimate based on the seven-plus years of anticipated durability.”
According to TipRanks.com, Chattopadhyay is a 2-star analyst with an average return of 0.2% and a 44.3% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.
Currently, the analyst consensus on uniQure NV is a Strong Buy with an average price target of $79.50.
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