There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Puma Biotechnology (NYSEArca:PBYI) and Revance Therapeutics (NASDAQ:RVNC) with bullish sentiments.
Puma Biotechnology (PBYI)
In a report released today, Alethia Young from Cantor Fitzgerald maintained a Buy rating on Puma Biotechnology, with a price target of $50. The company’s shares closed yesterday at $38.60, close to its 52-week low of $36.54.
Young wrote:
“: We are lowering our 12-month price target to $50 from $75, but are maintaining our Overweight rating on shares of PBYI. Puma reported Nerlynx sales of $53M, which was under FactSet consensus of $58M. We are not necessarily lowering the price target due to the miss, but rather the explanations behind what are driving Nerlynx trends. We have slowed the ramp, increased discontinuations, and our 2025 Nerlynx revenues are $760M vs. $1.02B. We find the communication patterns related to the Nerlynx launch as highly challenging and tough to interpret. We increased the discount rate from 10% to 11% to proxy our view that we have lower visibility into these launch trends.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 5.2% and a 46.4% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Intercept Pharma, and PTC Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Puma Biotechnology with a $66.67 average price target.
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Revance Therapeutics (RVNC)
Mizuho Securities analyst Difei Yang maintained a Buy rating on Revance Therapeutics today. The company’s shares closed yesterday at $23.01, close to its 52-week low of $21.45.
Yang noted:
“We updated our model and reduce our PT from $48 to $42. Reiterate Buy.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 19.4% and a 48.5% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Nektar Therapeutics.
Revance Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $52.50, a 128.2% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $50 price target.
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