There’s a lot to be optimistic about in the NA sector as 2 analysts just weighed in on Electrocore Llc (ECOR) and Vericel Corp (VCEL) with bullish sentiments.
Electrocore Llc (ECOR)
In a report issued on November 13, Sean Lavin from BTIG maintained a Buy rating on Electrocore Llc, with a price target of $20. The company’s shares closed yesterday at $6.88, close to its 52-week low of $6.39.
Lavin noted:
“Q3 report surprised us with revenue well below estimates (~$150K vs our ~$1M) but strong patient and physician demand. With over 4500 prescriptions in the quarter – and about 2000 scripts in October alone – there is clearly prescriber/patient enthusiasm for gammaCore. But early reimbursement wins are taking longer than expected to turn into sales. At this time almost all patients are receiving the device through sample and copay assistance programs, with important payor coverage catalysts slated for early 2019. With patients getting gammaCore for free at this point and then pushing insurers to eventually cover it, it is difficult to determine how prescribing trends may evolve as reimbursement becomes the norm and as ECOR eventually must require payment.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 9.6% and a 57.1% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
Electrocore Llc has an analyst consensus of Moderate Buy, with a price target consensus of $25, which is a 263.4% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $30 price target.
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Vericel Corp (VCEL)
BTIG analyst Ryan Zimmerman reiterated a Buy rating on Vericel Corp today and set a price target of $20. The company’s shares closed yesterday at $16.20, close to its 52-week high of $17.51.
Zimmerman said:
“$20 PT We hosted investor meetings with mgmt. of VCEL which included Nick Colangelo, President & CEO and Gerard Michel, CFO and VP of Corporate Development for multiple days of meetings in the Midwest. Investors were interested in understanding a variety of topics including the recently increased TAM, sales force dynamics, thoughts around FY19 guidance, use of cash, and other areas of the business. We continue to believe there is still limited investor awareness of VCEL although it appears to be increasing. The combination of quarterly performance, improving margins, future opportunity, high revenue growth, and current valuation has us reiterating our Buy. In addition, we’ve built a more comprehensive productivity analysis of the sales force to better inform our FY19 revenue estimates, which we increase following positive investor meetings.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 21.0% and a 58.1% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and OrthoPediatrics Corp.
Currently, the analyst consensus on Vericel Corp is a Strong Buy with an average price target of $19.10, a 17.9% upside from current levels. In a report issued on November 6, Piper Jaffray also maintained a Buy rating on the stock with a $19 price target.
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