There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Savara Inc (NASDAQ:SVRA) and Galmed Pharmaceuticals (NASDAQ:GLMD) with bullish sentiments.
Savara Inc (SVRA)
Canaccord Genuity analyst Dewey Steadman maintained a Buy rating on Savara Inc today and set a price target of $25. The company’s shares opened today at $11.18.
Steadman commented:
“We maintain our BUY rating on SVRA shares. With an advcom set for next week, management gave little color on expectations for the meeting. Insmed management understandably avoided direct questions about expectations for the full-day advcom on Tuesday but did indicate that label discussions might occur during the meeting. Recall, Insmed is seeking approval for the treatment of NTM caused by Mycobacterium avium complex (MAC) in adults as part of a combination antibacterial treatment regimen. Ideally, ALIS will be added to current standards of care in NTM (generally a cocktail of other antibiotics) for long-term treatment.”
According to TipRanks.com, Steadman is a 3-star analyst with an average return of 6.1% and a 46.5% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Pacira Pharmaceuticals, and Perrigo Company plc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Savara Inc with a $29 average price target.
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Galmed Pharmaceuticals (GLMD)
Maxim Group analyst Jason McCarthy maintained a Buy rating on Galmed Pharmaceuticals today and set a price target of $27. The company’s shares opened today at $13.20.
McCarthy commented:
“Galmed reported 2Q18 with a net loss of $2.7M and ended the period with $94M in cash, including $70.3M in net proceeds from the June equity financing. Factoring in the capital raise slightly lowers our price target to $27, from $30, which still represents significant upside at the current valuation.”
According to TipRanks.com, McCarthy is a 4-star analyst with an average return of 11.0% and a 43.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Galmed Pharmaceuticals with a $38 average price target, implying a 187.9% upside from current levels. In a report issued on July 20, Raymond James also initiated coverage with a Buy rating on the stock with a $26 price target.
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