There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Biogen Inc (NASDAQ:BIIB) and Beyondspring Inc (NASDAQ:BYSI) with bullish sentiments.
Biogen Inc (BIIB)
In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on Biogen Inc, with a price target of $363. The company’s shares closed yesterday at $316.15.
Fein said:
“Our PT of $363/share is based on a discounted cash flow analysis using a 10% discount rate and 2% growth rate, in line with the expected discount and growth parameters of a commercial multiproduct biotechnology company. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) a smaller than anticipated commercial opportunity due to market size, competition, and/or pricing.”
According to TipRanks.com, Fein is a 5-star analyst with an average return of 11.5% and a 45.7% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Currently, the analyst consensus on Biogen Inc is a Strong Buy with an average price target of $394.81, a 24.9% upside from current levels. In a report issued on October 11, Nomura also reiterated a Buy rating on the stock with a $420 price target.
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Beyondspring Inc (BYSI)
In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Beyondspring Inc, with a price target of $60. The company’s shares closed yesterday at $18.74, close to its 52-week low of $16.15.
Pantginis noted:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $60 price target. Our valuation is based on our clinical net present value (NPV) model, which is currently driven by the company’s lead asset, Plinabulin. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -16.2% and a 28.6% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Checkpoint Therapeutics Inc.
Beyondspring Inc has an analyst consensus of Moderate Buy, with a price target consensus of $54.
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