There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Zynerba Pharmaceuticals (ZYNE) and Tesaro (TSRO) with bullish sentiments.
Zynerba Pharmaceuticals (ZYNE)
H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Zynerba Pharmaceuticals today and set a price target of $23. The company’s shares closed yesterday at $5.66, close to its 52-week low of $5.03.
According to TipRanks.com, Livnat is a 3-star analyst with an average return of 3.5% and a 51.1% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Pacira Pharmaceuticals, Agile Therapeutics, and Cara Therapeutics.
Currently, the analyst consensus on Zynerba Pharmaceuticals is a Moderate Buy with an average price target of $21.
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Tesaro (TSRO)
H.C. Wainwright analyst Edward White maintained a Buy rating on Tesaro today and set a price target of $69. The company’s shares closed yesterday at $27.01, close to its 52-week low of $23.41.
White observed:
“Our $69 price target is based on a sum-of-the-parts (SOTP) analysis of TESARO. We include a value of $36.10/ share, based on 40x our 2021 non-GAAP EPS estimate of $1.06; $27.67/share, based on the present value of the delta of our 2026 Zejula sales estimate of $2.5 billion minus the $783 million in our 2021 estimate, adjusted for a 3x P/S multiple, discounted at 15% and $4.95/share for TESARO’s early-stage immuno-oncology pipeline. Our 40x P/E multiple is within the range of 20-50x of midcap biotech companies. Our P/S multiple of 3x is in line with TESARO’s peers that range between 2-5x.”
According to TipRanks.com, White is a 5-star analyst with an average return of 12.9% and a 44.0% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Currently, the analyst consensus on Tesaro is a Moderate Buy with an average price target of $51.20, implying an 89.6% upside from current levels. In a report issued on November 2, Cantor Fitzgerald also maintained a Buy rating on the stock with a $68 price target.
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