Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Ionis Pharmaceuticals Inc (NASDAQ:IONS) and Coherus Biosciences (NASDAQ:CHRS).
Ionis Pharmaceuticals Inc (IONS)
In a report released today, Paul Matteis from Stifel Nicolaus maintained a Hold rating on Ionis Pharmaceuticals Inc, with a price target of $45. The company’s shares closed yesterday at $53.70.
According to TipRanks.com, Matteis is a 5-star analyst with an average return of 27.7% and a 60.6% success rate. Matteis covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Alder Biopharmaceuticals, and Alexion Pharmaceuticals.
Ionis Pharmaceuticals Inc has an analyst consensus of Hold, with a price target consensus of $47.33.
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Coherus Biosciences (CHRS)
Coherus Biosciences received a Buy rating and a $28 price target from H.C. Wainwright analyst Jason Kolbert today. The company’s shares closed yesterday at $18.85, close to its 52-week high of $19.60.
Kolbert observed:
“We model revenues for CHS-1701, beginning in 2019, and we include biosimilar Humira (CHS-1420), beginning in 2023, as that product’s timing looks like it may be driven by patents that expire by August 2022. Given that Coherus’ lead biosimilar, CHS-1701, is highly likely to be approved this year, we believe a 15% discount rate and a P/E of 15x are appropriate valuation metrics. In our sum-of-the-parts model, we apply 15% risk rate to 1701 but a 30% risk rate to 1420 and the rest of the Coherus pipeline as those products are still years away from commercialization.”
According to TipRanks.com, Kolbert is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.8% and a 37.5% success rate. Kolbert covers the Healthcare sector, focusing on stocks such as Cytori Therapeutics Inc, Anavex Life Sciences, and Can-Fite BioPharma.
Coherus Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $25.
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