Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Pacific Biosciences (PACB) and Celyad (CYAD).
Pacific Biosciences (PACB)
In a report released today, Jordan Abrams from Cantor Fitzgerald downgraded Pacific Biosciences to Hold, with a price target of $8. The company’s shares closed on Friday at $7.74, close to its 52-week high of $7.84.
Abrams noted:
“: We are downgrading the shares of PACB to PACB’s announced acquisition by ILMN (Not Covered). On Nov. 1, after the market close, PACB announced an agreement to be acquired by ILMN for $8 per share, or ~$1.2B total EV. We view the likelihood of a higher bidder to be low. We also think regulatory risk to the deal remains low. The acquisition is expected to be completed mid-2019. We spoke to a number of industry participants to assess the likelihood of a higher bidder and regulatory approval.”
Abrams has an average return of 61.3% when recommending Pacific Biosciences.
According to TipRanks.com, Abrams is ranked #1760 out of 4900 analysts.
Pacific Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $7.25.
See today’s analyst top recommended stocks >>
Celyad (CYAD)
In a report released today, Raju Prasad from William Blair maintained a Buy rating on Celyad. The company’s shares closed on Friday at $28.
According to TipRanks.com, Prasad is a 2-star analyst with an average return of 0.0% and a 31.5% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Global Blood Therapeutics, and Audentes Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Celyad with a $48.50 average price target, a 73.2% upside from current levels. In a report issued on November 1, H.C. Wainwright also maintained a Buy rating on the stock with a $46 price target.
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