Analysts have been eager to weigh in on the Healthcare sector with new ratings on Clovis Oncology (NASDAQ:CLVS), ObsEva SA (NASDAQ:OBSV) and Strongbridge Biopharma Plc (NASDAQ:SBBP).
Clovis Oncology (CLVS)
Oppenheimer analyst Leah R. Cann initiated coverage with a Hold rating on Clovis Oncology today. The company’s shares closed yesterday at $36.88, close to its 52-week low of $35.04.
Cann noted:
“The initiation of the ATHENA study for the combination of a check point inhibitor with a PARP inhibitor for maintenance treatment of ovarian cancer could support increased use of Rubraca in this setting. Importantly, the participation of the prestigious cooperative groups, ENGOT and GOG, could expedite the study and will increase its impact when completed. GOG and ENGOT are the two largest cooperative groups in the US and Europe dedicated to the treatment of gynecological cancers. Based on the timing of the study, we are not making any changes to our outlook at this time.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 20.5% and a 54.9% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
Clovis Oncology has an analyst consensus of Strong Buy, with a price target consensus of $77.
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ObsEva SA (OBSV)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on ObsEva SA, with a price target of $44. The company’s shares closed yesterday at $14.76.
Selvaraju commented:
“Valuation methodology, risks and uncertainties. Our risk-adjusted net present value (rNPV) approach currently ascribes $1.68B to OBE2109, now known as linzagolix (as opposed to the prior $1.08B valuation for this candidate) and $170M to nolasiban. We utilize an 85% probability of success for linzagolix, reflecting the risk mitigation associated with the release of positive data from the EDELWEISS Phase 2b trial. The current total valuation of $1.85B translates to $44.00 per share, assuming roughly 42M fully-diluted shares outstanding as of mid-2019.”
According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.8% and a 33.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.
Currently, the analyst consensus on ObsEva SA is a Strong Buy with an average price target of $33.80, a 129.0% upside from current levels. In a report issued on August 6, Wedbush also initiated coverage with a Buy rating on the stock with a $34 price target.
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Strongbridge Biopharma Plc (SBBP)
In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Strongbridge Biopharma Plc, with a price target of $17. The company’s shares closed yesterday at $4.50, close to its 52-week low of $4.30.
Piros observed:
“: We reiterate our Overweight rating and are raising our 12-month PT to $17 from $14, following Strongbridge’s Phase 3 SONICS results and 2Q18 financial results. Shares were trading up 21% pre-market. Strongbridge reported top-line data, which demonstrated a robust reduction in the primary endpoint of urinary free cortisol (UFC) for 30% of patients following treatment with RECORLEV in Cushing’s syndrome (p<0.025). Notably, safety of the drug was established, as measured by limited and manageable events of elevated alanine aminotransferase (ALT). Given the positive data, Strongbridge is exploring accelerated approval with the FDA for RECORLEV."
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -8.3% and a 39.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Global Blood Therapeutics, and Bellicum Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Strongbridge Biopharma Plc with a $17.50 average price target.
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