There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Wave Life Sciences (WVE), Tyme Technologies Inc (TYME) and Avenue Therapeutics Inc (ATXI) with bullish sentiments.
Wave Life Sciences (WVE)
In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on Wave Life Sciences, with a price target of $49. The company’s shares closed yesterday at $35.56, close to its 52-week low of $32.25.
“2019, WAVE completed a secondary offering of 3.95M shares at $38/share, with gross proceeds of approximately $150M. In addition, WAVE granted the underwriters a 30-day option to purchase up to an additional 592,500 shares. Our model now reflects a pro forma cash and equivalents of $362M. We value WAVE $49/share based on a risk-adjusted, sum-of-parts DCF analysis: beta of 0.75, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 6.5%, and tax rate of 15% beginning in FY 2027.”
According to TipRanks.com, Chattopadhyay ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.9% and a 42.4% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.
Currently, the analyst consensus on Wave Life Sciences is a Strong Buy with an average price target of $63.
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Tyme Technologies Inc (TYME)
In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Tyme Technologies Inc, with a price target of $9.50. The company’s shares closed yesterday at $3.11.
“We maintain our Buy rating of TYME and our 12-month price target of $9.50 per share. We derive our price target based on a net present value analysis of projected SM-88 revenues through FY2030 assuming a 12% discount rate and 2% terminal growth rate.”
According to TipRanks.com, Ramakanth has 0 stars on 0-5 star ranking scale with an average return of -2.8% and a 36.0% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, Collplant Holdings Ltd, and Leap Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tyme Technologies Inc with a $9.50 average price target.
Avenue Therapeutics Inc (ATXI)
In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Avenue Therapeutics Inc, with a price target of $11. The company’s shares closed yesterday at $5.81.
“We apply a 20% discount rate to future net income projections, which we view as appropriate for a micro-cap development stage biotech company. With one pivotal Phase 3 study complete and the second trial underway, we apply a 65% probability of success (POS) to this program. Risks to our estimates, PT and rating include: (1) clinical trial failures; (2) unforeseen safety or tolerability issues; (3) meaningful delays to the expected development timelines; and (4) failure to secure timely FDA approval. For definitions and the distribution of analyst ratings, analyst certifications, and other disclosures, please refer to pages 2 – 3 of this report.Important Disclaimers This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c).”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 6.9% and a 37.6% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
Avenue Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $10.50.
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