There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Cytosorbents Corp (NASDAQ: CTSO), Verastem (NASDAQ: VSTM) and Corcept Therapeutics Inc (NASDAQ: CORT) with bullish sentiments.
Cytosorbents Corp (NASDAQ: CTSO)
B.Riley FBR analyst Andrew D’silva maintained a Buy rating on Cytosorbents Corp (NASDAQ: CTSO) yesterday and set a price target of $13. The company’s shares opened today at $8, close to its 52-week high of $8.35.
D’silva wrote:
“Buy-rated CytoSorbents Corporation (CTSO) reported 1Q18 results and held a corresponding conference call at 4:45 p.m. ET. The company posted a top-line/adj. EPS/ adj. EBITDA loss of $4.9M/($0.11)/$2.5M. versus our estimates of $4.6M/($0.13)/$2.9M and consensus’ $4.8M/($0.12)/$2.9M. The top-line beat was primarily due to CytoSorb (CS) sales coming in above expectations. Meanwhile, the adj. EPS/adj. EBITDA beat was primarily due to GMs coming in at 68.2%, ~520 bps above our estimates; opex of $6.5M approximated our $6.6M estimate.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 18.8% and a 55.0% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals Inc., Kindred Biosciences, and Cytori Therap.
Currently, the analyst consensus on Cytosorbents Corp is Strong Buy and the average price target is $12, representing a 50.0% upside.
In a report issued on April 24, Maxim Group also maintained a Buy rating on the stock with a $12 price target.
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Verastem (NASDAQ: VSTM)
In a report released today, George Zavoico from B.Riley FBR reiterated a Buy rating on Verastem (NASDAQ: VSTM), with a price target of $17. The company’s shares opened today at $4.26.
Zavoico wrote:
“At an analyst and investor event in New York, NY , on Oncology, Inc. (VSTM) was unveiled as the rebranded name for the company, highlighting their focus on improving the treatment of cancer patients with unmet medical needs. Presentations by key opinion leaders (KOLs) showcased Verastem’s lead drug duvelisib, a dual-PI3K-δ/γ inhibitor currently awaiting regulatory approval for the treatment of relapsed or refractory (r/r) CLL, SLL, and FL with an assigned PDUFA date of an ongoing Phase II trial for r/ r/ PTCL called PRIMO. Duvelisib is differentiated from alternative treatment options, such as ibrutinib, venetoclax, idelalisib and copanlisib, based on its efficacy, safety profile and ability to elicit responses in patients refractory or intolerant to earlier lines of therapy.”
According to TipRanks.com, Zavoico is a 1-star analyst with an average return of -0.8% and a 38.9% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Cellular Biomedicine Group, Catalyst Biosciences Inc, and Actinium Pharmaceuticals.
Currently, the analyst consensus on Verastem is Strong Buy and the average price target is $13.33, representing a 212.9% upside.
In a report issued on May 2, Seaport Global also initiated coverage with a Buy rating on the stock with a $14 price target.
Corcept Therapeutics Inc (NASDAQ: CORT)
B.Riley FBR analyst David Buck reiterated a Buy rating on Corcept Therapeutics Inc (NASDAQ: CORT) yesterday and set a price target of $30. The company’s shares opened today at $17.
Buck wrote:
“We reiterate our Buy rating and $30 price target on Corcept Therapeutics (CORT) following the company’s 1Q18 earnings announcement, AMC, on 5/8. CORT reported adjusted EPS of $0.19 for the quarter, which topped our estimate of $0.17/FactSet’s $0.18. Revenues for 1Q18 were $57.7M, modestly below our estimate of $58.1M/FactSet’s $58.2M. This represents growth of 108.9% Y/Y as management attributed strong sales of Korlym, its sole product for Cushing’s Syndrome, to rising prescriptions from (1) new prescribers and (2) more patients from its existing prescribers. We will update our model and PT, if necessary, following review of the company’s 10-Q filing.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 11.1% and a 71.9% success rate. Buck covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Supernus Pharmaceuticals, and Amag Pharmaceuticals.
Corcept Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $31.
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