There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on IsoRay (ISR) and Novavax (NVAX) with bullish sentiments.
IsoRay (ISR)
H.C. Wainwright analyst Swayampakula Ramakanth initiated coverage with a Buy rating on IsoRay today and set a price target of $0.70. The company’s shares closed on Friday at $0.39, close to its 52-week low of $0.27.
Ramakanth wrote:
“Valuation Net present value analysis. We derive a 12-month price target of $0.70 per share based on an NPV analysis of projected product revenues through FY2030. We assume a 12.7% discount rate, formulated by our calculation of IsoRay’s weighted average cost of capital, and 3% terminal growth rate. We derive an NPV of $66.2M and add in cash and cash equivalents of $9.2M to arrive at a 12-month price target of $0.70 (Exhibit 2).”
According to TipRanks.com, Ramakanth has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.0% and a 32.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Collplant Holdings Ltd.
Currently, the analyst consensus on IsoRay is a Hold with an average price target of $1.
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Novavax (NVAX)
Novavax received a Buy rating and a $6 price target from Seaport Global analyst Vernon Bernardino today. The company’s shares closed on Friday at $2.19.
Bernardino observed:
“We initiate coverage of Novavax (NVAX) with a Buy rating and 12-month price target of $6. We used a discounted cash flow (DCF) methodology based on projected 2020-2030 revenues from sales of to arrive at our 12-month price target of $6 for NVAX shares (25% discount rate and 2% terminal growth rate). With the shares trading at the midpoint of their 52-week trading range, we think NVAX is a compelling buy ahead of the readout for the Phase 3 RSV vaccine trial that we expect to be a positive catalyst.”
According to TipRanks.com, Bernardino is ranked #4703 out of 5129 analysts.
Currently, the analyst consensus on Novavax is a Strong Buy with an average price target of $3.38.
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