There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Chiasma (CHMA), ConforMIS (CFMS) and Organovo Holdings (ONVO) with bullish sentiments.
Chiasma (CHMA)
Chiasma received a Buy rating and a $12 price target from Brookline Capital Markets analyst Kumaraguru Raja on February 6. The company’s shares closed on Friday at $3.40.
According to TipRanks.com, Raja is a 1-star analyst with an average return of -4.2% and a 50.0% success rate. Raja covers the Healthcare sector, focusing on stocks such as Acer Therapeutics Inc, Cellectar Biosciences, and Heat Biologics.
Chiasma has an analyst consensus of Hold.
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ConforMIS (CFMS)
BTIG analyst Ryan Zimmerman maintained a Buy rating on ConforMIS on February 6 and set a price target of $3. The company’s shares closed on Friday at $0.72.
Zimmerman noted:
“Cost are There were no surprises in CFMS results as they were in-line with previously announced rev. in January. 4Q18 rev. of $22.0M (+6.3% Y/Y) and product rev. of $21.9M (+6.9% Y/Y), marked the 3 rd quarter seeing both lines grow, and the 1 st quarter that saw rev. exceeding our expectations since 4Q17. US product rev. came in at $19.4M (+10.0% Y/Y) and early rev. results from iTotal hip came in above our estimates, which we view positively. We see the hip product as a potentially meaningful driver of sales agent expansion in 2H19 as CFMS will have a full recon product portfolio which may attract some new agents. Additionally, GMs improved Y/Y (49.3% vs. 42.2% in Q417) and OpEx declined as cost reduction efforts began to take hold. Initial guidance for FY19 remains ~5% topline growth with ~$16M of cash burn (ended in cash & equivalents).”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 25.0% and a 68.4% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as OrthoPediatrics Corp, Stryker Corporation, and Globus Medical.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ConforMIS with a $2.75 average price target, a 281.9% upside from current levels. In a report issued on February 7, Oppenheimer also assigned a Buy rating to the stock with a $2.50 price target.
Organovo Holdings (ONVO)
BTIG analyst Sean Lavin maintained a Buy rating on Organovo Holdings on February 8 and set a price target of $3. The company’s shares closed on Friday at $1, close to its 52-week low of $0.90.
Lavin observed:
“F3Q19 revenue of $0.8M came in below our $1M forecast. Revenue declined y/y as a result of lower grant revenue and fewer contracts for liver tissue research services. As we’ve noted before, the ongoing changes to the company’s business strategy coupled with the lumpy nature of the business continue to render quarterly sales very tough to predict. Positively, operating expenses came in well below our forecast; the company continues to exercise restraint here and confirmed that headcount should remain stable through 2019. Management continues to target its first IND submission for A1AT in calendar 2020. On the second orphan drug designation (Type 1 Tyrosinemia), the company confirmed the need for additional animal work/clarification to satisfy the FDA. Overall, commentary today on the multiple opportunities that build upon the company’s existing platform remained encouraging.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 9.4% and a 56.9% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
Currently, the analyst consensus on Organovo Holdings is a Moderate Buy with an average price target of $2.50, which is a 150.0% upside from current levels. In a report issued on February 8, H.C. Wainwright also maintained a Buy rating on the stock with a $2.50 price target.
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