Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Acceleron Pharma (NASDAQ:XLRN), Acelrx (NASDAQ:ACRX) and MannKind (NASDAQ:MNKD).
Acceleron Pharma (XLRN)
H.C. Wainwright analyst Edward White maintained a Buy rating on Acceleron Pharma today and set a price target of $73. The company’s shares closed yesterday at $43.65.
White wrote:
“We are lowering our price target to $73, from $74, due to our lower YE18 cash estimate. The price target is based on probability-adjusted revenue forecasts for luspatercept, the company’s earlier stage pipeline and estimated year-end cash. We use the net present value of our revenue forecast through 2026, apply a 65% probability of success and a 2.5x price/sales multiple for luspatercept, and our year-end cash estimate to arrive at our price target.”
According to TipRanks.com, White is a top 100 analyst with an average return of 26.7% and a 56.2% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acceleron Pharma with a $54.29 average price target.
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Acelrx (ACRX)
Oppenheimer analyst Leland Gershell maintained a Hold rating on Acelrx today. The company’s shares closed yesterday at $2.60.
Gershell commented:
“AcelRx’s 2Q18 loss per share was $0.20 vs. our $0.14 estimate. We remain on the sidelines ahead of what we see to be an at-risk FDA decision for Dsuvia, an opioid- based product in review for the treatment of moderate-to-severe pain in medically supervised settings. We lack conviction in the size of its commercial opportunity relative to the large acute pain market. While the ongoing national shortage of existing opioids could provide a tailwind to Dsuvia’s early launch, we caution that this may be short-lived as efforts toward resolution are under way.”
According to TipRanks.com, Gershell is a 1-star analyst with an average return of -14.2% and a 16.7% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Avenue Therapeutics Inc, Evofem Biosciences Inc, and Urogen Pharma Ltd.
Acelrx has an analyst consensus of Moderate Buy, with a price target consensus of $5.50.
MannKind (MNKD)
In a report released today, Oren Livnat from H.C. Wainwright maintained a Buy rating on MannKind, with a price target of $4. The company’s shares closed yesterday at $1.50, close to its 52-week low of $1.09.
Livnat observed:
“Valuation and risks. Our $4 target (from $5) is based on a DCF reflecting only U.S. Afrezza sales, assuming a strong sales ramp in 2019 and beyond, and peak potential approaching $500M. We apply a 16% WACC discount rate, and 2% terminal growth beyond 2026 (or 6x terminal EBITDA multiple). We think positive terminal growth is justified given the broadly applicable inhalable formulation technology platform, issued Afrezza IP to 2032, and likely extremely high generic hurdles preventing a generic Afrezza indefinitely.”
According to TipRanks.com, Livnat is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.6% and a 43.1% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, Pacira Pharmaceuticals, and Jazz Pharmaceuticals.
MannKind has an analyst consensus of Moderate Buy, with a price target consensus of $4.
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