Analysts have been eager to weigh in on the Healthcare sector with new ratings on Sientra (NASDAQ:SIEN) and Madrigal Pharmaceuticals Inc (NASDAQ:MDGL).
Sientra (SIEN)
Maxim Group analyst Anthony Vendetti reiterated a Hold rating on Sientra today. The company’s shares closed yesterday at $21.38, close to its 52-week high of $21.91.
Vendetti wrote:
“Market close, SIEN reported better-than-expected 2Q18 revenue, with most of the beat coming from miraDry. The higher revenue was mostly offset by higher-than-expected expenses, leading to relatively inline EPS. SIEN appointed Patrick Williams, who had been the CFO since October 2016, as GM of miraDry. Paul Little was named the company’s new CFO.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 9.5% and a 53.7% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
Currently, the analyst consensus on Sientra is a Strong Buy with an average price target of $21.25.
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Madrigal Pharmaceuticals Inc (MDGL)
H.C. Wainwright analyst Ed Arce maintained a Buy rating on Madrigal Pharmaceuticals Inc today and set a price target of $313. The company’s shares closed yesterday at $245.51.
Arce commented:
“We look forward to further insights on MGL-3196, in particular, more details on topline biopsy readings such as two-point reduction in NAS (NAFLD Activity Score) and resolution of NASH; more granular data around the categories of patients in the study; some data on the 36-week extension cohorts; and likely more details around ongoing FDA interactions regarding the upcoming Phase 3 study. Overall, based on the outstanding results from its Phase 2 NASH study (NCT02912260; see our June 1 note, “A New Leader in NASH Emerges”), we continue to believe that the upcoming Phase 3 study (initiation still expected YE18 or January 2019) is substantially de- risked from a development standpoint, and we still believe a take-out scenario is likely, though not imminent. Affirm Buy. Phase 3 plan continues take shape.”
According to TipRanks.com, Arce is a 5-star analyst with an average return of 21.9% and a 41.8% success rate. Arce covers the Healthcare sector, focusing on stocks such as Conatus Pharmaceuticals, Paratek Pharmaceuticals, and Avenue Therapeutics Inc.
Currently, the analyst consensus on Madrigal Pharmaceuticals Inc is a Strong Buy with an average price target of $321.17, which is a 30.8% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $300 price target.
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