There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Provention Bio Inc (PRVB) and Dicerna Pharma (DRNA) with bullish sentiments.
Provention Bio Inc (PRVB)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Provention Bio Inc, with a price target of $7.50. The company’s shares closed yesterday at $2.55, close to its 52-week low of $1.52.
Selvaraju said:
“We value Provention Bio using a discounted cash flow (DCF)-based methodology, which ascribes a 70% probability of approval to PRV-031, a 50% probability of approval to 40% probability of approval to PRV-300. We do not currently assign value to any of the company’s other assets.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -16.0% and a 23.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Currently, the analyst consensus on Provention Bio Inc is a Moderate Buy with an average price target of $7.50.
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Dicerna Pharma (DRNA)
H.C. Wainwright analyst Ed Arce maintained a Buy rating on Dicerna Pharma today and set a price target of $24. The company’s shares closed yesterday at $9.74, close to its 52-week low of $8.71.
Arce wrote:
“We note that the global burden of HBV remains quite high at about 250M people, mostly in Africa and parts of Asia. Current therapies for HBV infection, such as nucleoside analogs (entecavir, tenofovir) and pegylated interferon, aim to suppress the virus; however, they only partially reduce the disease burden and they require life-long therapy.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 5.6% and a 35.1% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Dicerna Pharma with a $21.20 average price target, which is an 117.7% upside from current levels. In a report issued on January 22, Chardan Capital also upgraded the stock to Buy with a $18 price target.
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