Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on ConforMIS (NASDAQ:CFMS), Acorda Therapeutics (NASDAQ:ACOR) and FibroGen (NASDAQ:FGEN).
ConforMIS (CFMS)
In a report released yesterday, Ryan Zimmerman from BTIG maintained a Buy rating on ConforMIS, with a price target of $3. The company’s shares closed yesterday at $0.85, close to its 52-week low of $0.80.
Zimmerman noted:
“Progress, Margin Improvement, OUS Headwinds. CFMS reported 3Q results this evening that were somewhat of a disappointment on the topline when excluding the one-time $10.5M royalty settlement the company received from Smith & Nephew (SNN, the Q ($18.5M (+0.4% Y/Y) vs. BTIG/Consensus estimates of $19.1M/$19.2M (+3.7% Y/Y / +4.2% Y/Y)). Despite the headline miss, product revenue increased for the second Q in a row, led by domestic sales growth of +4.8% Y/Y, though international sales continued to struggle, down ~22.4%. We wonder if investors would prefer CFMS stop selling OUS and focus on the US market, where growth appears to be improving modestly. We believe it may help shares over time. GMs improved again sequentially, as mgmt.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 22.3% and a 60.9% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and OrthoPediatrics Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ConforMIS with a $3 average price target.
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Acorda Therapeutics (ACOR)
J.P. Morgan analyst Cory Kasimov maintained a Hold rating on Acorda Therapeutics yesterday and set a price target of $18. The company’s shares closed yesterday at $19.11.
Kasimov noted:
“ACOR announced a top- and bottom-line beat driven largely by higher Ampyra sales, which reflected an additional 6 weeks of exclusivity that consensus numbers apparently did not take into account. FY2018 Ampyra guidance was also revised accordingly to >$400M (vs. $330M-$350M prior), and, of note, the company now expects its cash position to be sufficient to fund the launch of Inbrija through cash flow positivity. The quarter was otherwise relatively uneventful as the company continues to prepare for the potential launch of Inbrija – now the centerpiece of the story – by the 01/05/19 PDUFA date. While we do see potential in Inbrija (ACOR guidance of >$800M peak sales), at current levels we believe the stock is fairly valued (pending a change in Inbrija market potential and/or additional pipeline developments).”
According to TipRanks.com, Kasimov is a 1-star analyst with an average return of -0.4% and a 36.9% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Jounce Therapeutics Inc, and Vertex Pharmaceuticals.
Currently, the analyst consensus on Acorda Therapeutics is a Moderate Buy with an average price target of $23.57, implying a 23.3% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Hold rating on the stock with a $18 price target.
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FibroGen (FGEN)
In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on FibroGen, with a price target of $74. The company’s shares closed yesterday at $42.87, close to its 52-week low of $38.52.
Yang commented:
“We examined the data, spoke with the management and continue to see the safety profile of roxadustat as adequate (more details below). We updated our model and reiterate our $74 PT.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 18.2% and a 47.5% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
FibroGen has an analyst consensus of Moderate Buy, with a price target consensus of $76.33.
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