There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Second Sight Medical Products (EYES) and ADMA Biologics (ADMA) with bullish sentiments.
Second Sight Medical Products (EYES)
H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Second Sight Medical Products today and set a price target of $2.50. The company’s shares closed yesterday at $0.84, close to its 52-week low of $0.64.
Dayal commented:
“We are lowering our price target on EYES to $2.50 from $5.00 to account for the company scaling back its efforts around Argus II to support the development of Orion. In the same context, we believe our expectations of revenue generation from better-sighted RP patients also needs to be pushed out beyond 2020, as the company’s resources over the next 18-24 months will be primarily consumed by Orion. Please see the Valuation section on the next page for more details.”
According to TipRanks.com, Dayal has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.9% and a 45.0% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and Orion Energy Systems.
Currently, the analyst consensus on Second Sight Medical Products is a Moderate Buy with an average price target of $5.
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ADMA Biologics (ADMA)
In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on ADMA Biologics, with a price target of $12. The company’s shares closed yesterday at $3.89.
McCarthy noted:
“ADMA reported 4Q18 revenue of $4.1M (combination of plasma centers, Nabi- HB, and license revenue) and a net loss of ($18M). The company ended the period with $22.8M in cash. The company could access an additional $27.5M from the second tranche related to the debt refinancing on 2/19. This is based on approval of either Bivigam (prior approval supplement, PAS) or RI-002. However, we expect ADMA is going to need to raise capital, the timing of which and at what valuation may be dictated by the outcomes for Bivigam and/or RI-002.”
According to TipRanks.com, McCarthy has 0 stars on 0-5 star ranking scale with an average return of -4.9% and a 32.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Inovio Pharmaceuticals, and Vertex Pharmaceuticals.
Currently, the analyst consensus on ADMA Biologics is a Strong Buy with an average price target of $11.25, implying a 189.2% upside from current levels. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $14 price target.
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