There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on SAGE Therapeutics (NASDAQ: SAGE) and Mylan Inc (NASDAQ: MYL) with bullish sentiments.
SAGE Therapeutics (NASDAQ: SAGE)
In a report released today, Ritu Baral from Cowen & Co. maintained a Buy rating on SAGE Therapeutics (NASDAQ: SAGE), with a price target of $207. The company’s shares opened today at $142.94.
According to TipRanks.com, Baral is a top 25 analyst with an average return of 33.3% and a 54.8% success rate. Baral covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Allena Pharmaceuticals Inc.
Currently, the analyst consensus on SAGE Therapeutics is Strong Buy and the average price target is $214.88, representing a 50.3% upside.
In a report issued on April 23, BMO Capital also reiterated a Buy rating on the stock with a $203 price target.
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Mylan Inc (NASDAQ: MYL)
Guggenheim analyst Rohit Vanjani assigned a Buy rating to Mylan Inc (NASDAQ: MYL) today and set a price target of $59. The company’s shares opened today at $36.78.
Vanjani said:
“We note that neither Mylan nor Biocon would comment on Neulasta’s updated timing. We spoke with a manufacturing consultant who believed that biosimilar Neulasta would not receive an approval until the Form 483 issues were resolved. We expect an update on Mylan’s earnings call on Wednesday, 5/9/18. Biocon Form 483: Biocon announced yesterday (5/1/18) that the FDA issued a Form 483 with 7 observations relating to the company’s Bangalore, India site. As a reminder, MYL has a partnership with Biocon to produce biosimilars Neulasta/Herceptin out of the same facility. The TAD for biosimilar Neulasta is on 6/4/18. Biocon noted that the observations were largely procedural and aimed at continuous improvement. Further, the company indicated that it would respond to the FDA “well within” the typical 15 day response period.”
According to TipRanks.com, Vanjani is a 4-star analyst with an average return of 10.7% and a 50.0% success rate. Vanjani covers the Healthcare sector, focusing on stocks such as Sienna Biopharmaceuticals Inc, Revance Therapeutics, and Endo International.
Mylan Inc has an analyst consensus of Moderate Buy, with a price target consensus of $50.50.
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