There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Orthofix (OFIX) and RegenXBio (RGNX) with bullish sentiments.
Orthofix (OFIX)
Cantor Fitzgerald analyst Craig Bijou reiterated a Buy rating on Orthofix today and set a price target of $66. The company’s shares opened today at $60.70.
Bijou commented:
“. We reiterate our Overweight rating and $66 PT on OFIX shares. We hosted investor meetings for OFIX late last week and are encouraged by the potential of the company’s spine realignment under one leader. We believe the recent organizational changes make strategic sense and should allow OFIX to have a more concentrated focus on its core competencies, leading to accelerating spine growth. We think the 3Q rebound is a positive sign after the 2Q miss. We continue to believe that OFIX added a premium asset with its Spinal Kinetics acquisition and the M6 disc will help the company expand its distribution channel and introduce surgeons to its other differentiated technologies.”
According to TipRanks.com, Bijou is a 4-star analyst with an average return of 14.4% and a 61.0% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.
Orthofix has an analyst consensus of Strong Buy, with a price target consensus of $65.33, a 7.6% upside from current levels. In a report issued on October 29, BTIG also maintained a Buy rating on the stock with a $61 price target.
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RegenXBio (RGNX)
Raymond James analyst Reni Benjamin maintained a Buy rating on RegenXBio today. The company’s shares opened today at $69.94.
Benjamin wrote:
“We are maintaining our Outperform rating for REGENXBIO. Today, the company granted Abeona a worldwide license to the company’s proprietary NAV adeno- associated virus 9 (AAV9) vector for the treatment of four diseases. Under the terms of agreement, the company is guaranteed $40 million, the potential of an additional $140 million in commercial milestones and annual payments, as well as low double-digit royalties. With each new licensee, we continue to believe that other companies in the gene therapy space could find themselves working with REGENXBIO in the future, leading to similar deal terms for the company.”
According to TipRanks.com, Benjamin has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.0% and a 35.6% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences Inc, Asterias Biotherapeutics, and Adaptimmune Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for RegenXBio with a $105.25 average price target, representing a 50.5% upside. In a report released today, Chardan Capital also reiterated a Buy rating on the stock with a $127.50 price target.
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