Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Spectrum Pharmaceuticals (SPPI) and CareDx (CDNA).
Spectrum Pharmaceuticals (SPPI)
In a report released today, Edward White from H.C. Wainwright reiterated a Buy rating on Spectrum Pharmaceuticals, with a price target of $40. The company’s shares closed yesterday at $10.33.
White commented:
“Our $40 price target is derived from an NPV of Spectrum’s proprietary pipeline, a sum-of-the-parts analysis based on the P/E value of its current commercial business, plus cash. We assume a 20% discount rate for the NPV of the pipeline and a P/S multiple of 3x. We value the pipeline at $12.19 per share (x3= $36.57), the current commercial business at $1.48 per share and YE18 estimated fully diluted net cash at $1.49 per share.”
According to TipRanks.com, White is a 5-star analyst with an average return of 14.1% and a 46.0% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Synthetic Biologics Inc, and Karyopharm Therapeutics.
Spectrum Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $30.50.
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CareDx (CDNA)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Hold rating on CareDx, with a price target of $27. The company’s shares closed yesterday at $27.31, close to its 52-week high of $30.80.
Selvaraju commented:
“As we roll forward the DCF analysis, our estimated market value of the firm has increased slightly to $1,127M from $1,123M, Our price target is derived from the market value of the firm, which includes a discounted cash flow analysis based asset value for pre- and post-transplant tests, using a 15% discount rate and 2%.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -14.5% and a 27.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for CareDx with a $34.75 average price target.
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