Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Achaogen (NASDAQ:AKAO), Inovio Pharmaceuticals (NASDAQ:INO) and Editas Medicine Inc (NASDAQ:EDIT).
Achaogen (AKAO)
H.C. Wainwright analyst Ed Arce maintained a Buy rating on Achaogen today and set a price target of $19. The company’s shares closed yesterday at $7.05, close to its 52-week low of $6.23.
Arce commented:
“916-3963, POS Risk-adj value Full value Rating ZEMDRI – U.S. 100% $11.00 $11.00 Shares outstanding 45,209 2018 ZEMDRI – EU 85% $3.10 $3.65 Current share price $7.05 Discount rate 13.0% C-Scape – U.S.”
According to TipRanks.com, Arce is a 5-star analyst with an average return of 22.7% and a 41.3% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Paratek Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Achaogen with a $17.40 average price target, implying a 146.8% upside from current levels. In a report issued on July 27, Mizuho Securities also reiterated a Buy rating on the stock with a $20 price target.
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Inovio Pharmaceuticals (INO)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Inovio Pharmaceuticals, with a price target of $13. The company’s shares closed yesterday at $3.92, close to its 52-week low of $3.64.
Selvaraju commented:
“Our 12-month price target is derived from a market value of the firm at $1.3B, which includes a discounted cash flow based asset value for 15% discount rate, 2% terminal growth rate and 80% probability of success. Investment risks include: (1) failure of VGX-3100 in clinical trials; (2) failure of VGX-3100 to secure regulatory approval; (3) failure of VGX-3100 to achieve commercial success due to market size, penetration rate, and/or competition; and (4) potential failures of other pipeline candidates.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -2.8% and a 34.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Inovio Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $11, implying a 180.6% upside from current levels. In a report released yesterday, Maxim Group also maintained a Buy rating on the stock with a $8 price target.
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Editas Medicine Inc (EDIT)
J.P. Morgan analyst Cory Kasimov maintained a Hold rating on Editas Medicine Inc yesterday and set a price target of $36. The company’s shares closed yesterday at $29.09.
Kasimov observed:
“Within this afternoon’s quarterly update, EDIT announced that 1) the IND filing for lead CRISPR compound EDIT-101 for LCA10 is expected to occur in October 2018 (previously mid-2018) and 2) AGN/EDIT have exercised their options in relation to this aforementioned asset (details below). These two updates notwithstanding, the remainder of EDIT’s print/call was relatively uneventful. Overall we continue to think that EDIT is well positioned to ultimately capitalize on the enormous potential of CRISPR. That said, the lack of value inflecting catalysts (outside of regulatory filings) in this emerging (and often volatile) field keeps us on the sidelines for now.”
According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 2.4% and a 40.8% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Global Blood Therapeutics, and Jounce Therapeutics Inc.
Editas Medicine Inc has an analyst consensus of Moderate Buy, with a price target consensus of $43.33, implying a 49.0% upside from current levels. In a report released today, Oppenheimer also assigned a Hold rating to the stock.
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