There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Portola Pharma (NASDAQ:PTLA), Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) and Loxo Oncology (NASDAQ:LOXO) with bullish sentiments.
Portola Pharma (PTLA)
In a report released today, Phil Nadeau from Cowen & Co. maintained a Buy rating on Portola Pharma, with a price target of $50. The company’s shares opened today at $33.03, close to its 52-week low of $30.10.
According to TipRanks.com, Nadeau is a 5-star analyst with an average return of 12.7% and a 56.0% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Voyager Therapeutics Inc.
Currently, the analyst consensus on Portola Pharma is a Strong Buy with an average price target of $65, a 96.8% upside from current levels. In a report issued on August 2, Oppenheimer also assigned a Buy rating to the stock with a $80 price target.
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Rhythm Pharmaceuticals Inc (RYTM)
Needham analyst Alan Carr maintained a Buy rating on Rhythm Pharmaceuticals Inc today and set a price target of $42. The company’s shares opened today at $32.84.
Carr said:
“Rhythm reported 2Q18 financial results yesterday and we spoke w/ mgmt for an update. As a reminder, the company completed enrollment of both setmelanotide Phase 3 trials in POMC and LepR Deficiency patients in Jun 2018. Mgmt reiterated guidance for results from these trials in 3Q19. We expect positive outcomes based on Phase 2 data. Encouraging long-term Phase 2 data in Bardet-Biedl (BBS) and initial Phase 2 data in Alstrom, POMC Heterozygous, and POMC Epigenetic were announced earlier this year and mgmt reiterated plans to start a single Phase 3 trial w/ both Bardet-Biedl and Alstrom patients in 2H18. Demonstration of consistent impact on appetite and weight across several genetic obesity diseases in 2Q18 has increased our conviction. BUY.”
According to TipRanks.com, Carr is a 3-star analyst with an average return of 3.4% and a 41.8% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Lexicon Pharmaceuticals, and Aquinox Pharmaceuticals.
Currently, the analyst consensus on Rhythm Pharmaceuticals Inc is a Moderate Buy with an average price target of $41.
Loxo Oncology (LOXO)
Cowen & Co. analyst Marc Frahm maintained a Buy rating on Loxo Oncology today. The company’s shares opened today at $162.08.
According to TipRanks.com, Frahm is a 1-star analyst with an average return of -4.4% and a 50.0% success rate. Frahm covers the Healthcare sector, focusing on stocks such as Merrimack Pharmaceuticals, Adaptimmune Therapeutics, and Blueprint Medicines.
Loxo Oncology has an analyst consensus of Strong Buy, with a price target consensus of $216.29, a 33.4% upside from current levels. In a report released today, William Blair also maintained a Buy rating on the stock.
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