Analysts have been eager to weigh in on the Healthcare sector with new ratings on Cytokinetics Inc (CYTK) and Nevro (NVRO).
Cytokinetics Inc (CYTK)
In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Cytokinetics Inc, with a price target of $21. The company’s shares opened today at $7.57.
Pantginis wrote:
“Valuation and potential impediments to achieving it. We maintain our Buy rating and $21 price target. We highlight that omecamtiv, partnered globally with Amgen, drives the lion’s share of our current valuation (>80%). Our price target is based on our clinical net present value (NPV) model. We believe this method is appropriate in capturing the value of the clinical stage pipeline by allowing us to flex multiple assumptions, including the chance of success, peak sales estimates, and year of commercial launch.”
According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -18.2% and a 26.8% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
Cytokinetics Inc has an analyst consensus of Strong Buy, with a price target consensus of $14.25.
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Nevro (NVRO)
Northland Securities analyst Suraj Kalia maintained a Hold rating on Nevro today and set a price target of $48. The company’s shares opened today at $40.57, close to its 52-week low of $35.41.
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 9.7% and a 55.8% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Obalon Therapeutics Inc, and Apollo Endosurgery Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Nevro with a $53.11 average price target.
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