There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Organovo Holdings (NYSE: ONVO), G1 Therapeutics Inc (NASDAQ: GTHX) and Myriad Genetics (NASDAQ: MYGN) with bullish sentiments.
Organovo Holdings (NYSE: ONVO)
In a report issued on June 1, Sean Lavin from BTIG maintained a Buy rating on Organovo Holdings (NYSE: ONVO), with a price target of $3. The company’s shares closed on Friday at $1.45.
Lavin noted:
“FQ4 revenue of $1.1 came in lighter than our $1.3M forecast. Disappointingly, management shied away from providing specific guidance for FY19 except to say that it “expects overall growth … from all parts of the business.” Though commentary on the aggregate market opportunity remains encouraging, we did not walk away with incremental comfort around the near-term ramp and admit that our FY19 estimates are somewhat fluid. We maintain our Buy rating as we feel the overall value of the business is not entirely reflected in the share price; however, we feel this remains a speculative rating.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 15.5% and a 63.8% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Tactile Systems Technology, and Obalon Therapeutics Inc.
Organovo Holdings has an analyst consensus of Hold.
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G1 Therapeutics Inc (NASDAQ: GTHX)
BTIG analyst Dane Leone maintained a Buy rating on G1 Therapeutics Inc (NASDAQ: GTHX) yesterday and set a price target of $60. The company’s shares closed on Friday at $43.60.
Leone observed:
“ASCO, we attended the poster session for G1T38 and spoke with the presenter. The data update for G1T38 remains consistent with our thesis and we make no change to our model estimates for US FDA approval by mid-2023 with ~$156m in revenues for the year. We Maintain our Buy rating and $60 PT.”
According to TipRanks.com, Leone is a top 100 analyst with an average return of 21.9% and a 74.6% success rate. Leone covers the Healthcare sector, focusing on stocks such as Voyager Therapeutics Inc, Vertex Pharmaceuticals, and Blueprint Medicines.
Currently, the analyst consensus on G1 Therapeutics Inc is Strong Buy and the average price target is $60.33, representing a 38.4% upside.
In a report issued on May 29, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $61 price target.
Myriad Genetics (NASDAQ: MYGN)
In a report issued on June 1, Sung Ji Nam from BTIG reiterated a Buy rating on Myriad Genetics (NASDAQ: MYGN), with a price target of $47. The company’s shares closed on Friday at $39.47, close to its 52-week high of $41.57.
Ji Nam noted:
“$47 (from $42) and ~3x LTM sales transaction value for a company with >$134mm in LTM revenue, steady 20+% top line growth, and high-50% range gross margin has left us scratching our heads (admittedly, the Counsyl shareholders could gain upside from choosing up to 25% of the transaction consideration in MYGN shares), the strategic rationale for MYGN makes a lot of sense to us, in terms of: 1) enhancing the growth profile through high-growth businesses with established reimbursement; 2) the combined product portfolio providing potential revenue synergies from the strengthened competitive position and relationship with payers; and 3) potential to realize meaningful cost synergies as Counsyl’s test menu squarely fits into MYGN’s operational and commercial infrastructure.”
According to TipRanks.com, Nam is a 4-star analyst with an average return of 7.4% and a 71.6% success rate. Nam covers the Healthcare sector, focusing on stocks such as Oxford Immunotec, Thermo Fisher, and Quotient Ltd.
Myriad Genetics has an analyst consensus of Moderate Buy, with a price target consensus of $36.33.
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