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There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on ConforMIS (NASDAQ: CFMS), Immune Design (NASDAQ: IMDZ) and Blueprint Medicines (NASDAQ: BPMC) with bullish sentiments.
ConforMIS (NASDAQ: CFMS)
In a report released today, Kyle Rose from Canaccord Genuity maintained a Buy rating on ConforMIS (NASDAQ: CFMS), with a price target of $3.50. The company’s shares opened today at $1.35, close to its 52-week low of $1.15.
Rose commented:
“We maintain our BUY rating following Q1/18 results that came in slightly ahead of our/Street expectations. Overall, the Q1 reinforced our thesis that ConforMIS is on the cusp of emerging from what has become an 18-month overhaul of the commercial and manufacturing infrastructure and is now positioned to realize accelerating sales growth (new commercial leadership, rep tenure, and new products) coupled with meaningful GM expansion (integrating a recent supplier acquisition, manufacturing process changes, and scale) – neither of which in our view is reflected in the current valuation. Highlights of the quarter included a +1,300bps Y/Y improvement in gross margins, continued momentum in iTotal PS, up +15.7% Y/Y, and a positive coverage decision with Cigna removing a CT reimbursement overhang in 2018.”
According to TipRanks.com, Rose is a 5-star analyst with an average return of 11.2% and a 57.1% success rate. Rose covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Zimmer Biomet Holdings, and Smith & Nephew Snats.
Currently, the analyst consensus on ConforMIS is Strong Buy and the average price target is $3.67, representing a 171.9% upside.
In a report released yesterday, BTIG also assigned a Buy rating to the stock with a $3 price target.
See today’s analyst top recommended stocks >>
Immune Design (NASDAQ: IMDZ)
In a report released today, Boris Peaker from Cowen & Co. maintained a Buy rating on Immune Design (NASDAQ: IMDZ). The company’s shares opened today at $3.60, close to its 52-week low of $2.80.
According to TipRanks.com, Peaker is a 5-star analyst with an average return of 18.5% and a 52.4% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Stemline Therapeutics Inc, and Mersana Therapeutics Inc.
Immune Design has an analyst consensus of Moderate Buy, with a price target consensus of $8.
Blueprint Medicines (NASDAQ: BPMC)
Canaccord Genuity analyst Arlinda Lee reiterated a Buy rating on Blueprint Medicines (NASDAQ: BPMC) today and set a price target of $105. The company’s shares opened today at $82.30.
According to TipRanks.com, Lee is a 4-star analyst with an average return of 4.6% and a 46.4% success rate. Lee covers the Healthcare sector, focusing on stocks such as Karyopharm Therapeutics, Aquinox Pharmaceuticals, and Zynerba Pharmaceuticals.
Currently, the analyst consensus on Blueprint Medicines is Strong Buy and the average price target is $103, representing a 25.2% upside.
In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock.
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