There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Syros Pharmaceuticals (SYRS) and Acelrx (ACRX) with bullish sentiments.
Syros Pharmaceuticals (SYRS)
In a report released yesterday, Mark Breidenbach from Oppenheimer reiterated a Buy rating on Syros Pharmaceuticals, with a price target of $13. The company’s shares closed yesterday at $6.90.
Breidenbach noted:
“Thursday, Syros announced 4Q earnings and provided a business update. The company is honing its development plans for SY-1425 in combination with azacitidine (azaC) by focusing on AML patients with relapsed/refractory disease, which we believe offers the path of least resistance to market. In 2H19, additional data from the ongoing Phase 2 trial in newly diagnosed patients could support the company’s biomarker-driven strategy. We expect updated SY-1365 data from dose-expansion cohorts in the ongoing Phase 1 trial in 2H19, and management announced a new expansion cohort focusing on clear cell ovarian cancer to pursue encouraging signs of clinical activity reported last November. With multiple de-risking clinical readouts anticipated over the next 12-18 months, we reiterate our Outperform rating, $13 PT.”
According to TipRanks.com, Breidenbach is a 1-star analyst with an average return of -2.3% and a 39.2% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
Currently, the analyst consensus on Syros Pharmaceuticals is a Moderate Buy with an average price target of $13.
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Acelrx (ACRX)
Cantor Fitzgerald analyst Brandon Folkes reiterated a Buy rating on Acelrx yesterday and set a price target of $9. The company’s shares closed yesterday at $3.76.
Folkes wrote:
“. Post 4Q18 earnings, we reiterate our Overweight rating and 12-month price target of $9. With the launch of Dsuvia, we believe investor focus can now shift to the fundamental value of the company rather than the overhang of whether an opioid would be approved by the FDA. As ACRX launches a true alternative to IV opioids, during the continued IV opioid shortage we expect investors to begin to appreciate the value of the product. We believe that Dsuvia offers an advancement in delivery of adequate pain treatment by eliminating the need for an invasive and time-consuming IV set-up in the emergency room as well as an out- patient or short stay in a patient surgery setting.”
According to TipRanks.com, Folkes is a 3-star analyst with an average return of 4.7% and a 42.4% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Opiant Pharmaceuticals Inc, Eagle Pharmaceuticals Inc, and Collegium Pharmaceutical.
Currently, the analyst consensus on Acelrx is a Strong Buy with an average price target of $8.
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