There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Pieris Pharmaceuticals (NASDAQ:PIRS) and Portola Pharma (NASDAQ:PTLA) with bullish sentiments.
Pieris Pharmaceuticals (PIRS)
In a report released today, Hartaj Singh from Oppenheimer maintained a Buy rating on Pieris Pharmaceuticals, with a price target of $8. The company’s shares opened today at $5.05, close to its 52-week low of $4.42.
Singh observed:
“Pieris Pharmaceuticals (PIRS) reported 2Q18 earnings and provided a business update this morning. The main headline from a corporate perspective was the termination of R&D collaboration agreements by partners Roche and Sanofi, signed 2015 and 2010 respectively. While disappointing, PIRS reiterated its strong ongoing alliances with AstraZeneca, Servier, and Seattle Genetics and growing proprietary development pipeline. All three clinical programs remain on track to report data by YE18, with two additional IND filings planned next year. We adjust our model to reflect OPEX increases (+13% from 1Q18) as the early-stage pipeline picks up steam, and remain bullish.”
According to TipRanks.com, Singh is a 4-star analyst with an average return of 10.8% and a 49.0% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Syndax Pharmaceuticals Inc, and Catabasis Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Pieris Pharmaceuticals with a $10 average price target, representing a 98.0% upside. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $12 price target.
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Portola Pharma (PTLA)
In a report released today, Jay Olson from Oppenheimer maintained a Buy rating on Portola Pharma, with a price target of $70. The company’s shares opened today at $33.03, close to its 52-week low of $30.10.
Olson observed:
“PTLA provided 2Q18 results with updates on product launches, sending expectations lower for Bevyxxa. EPS of ($1.61) was lower than our estimate and consensus, driven by lower than expected revenues and higher expenses. The key update is that Bevyxxa launch dynamics will take ~1 year longer than previously guided, based on a bottleneck getting onto electronic ordering systems. The Andexxa launch update was more encouraging, with 20 of 40 hospitals actively treating patients and re- ordering. Management reiterated plans to file the Gen 2 PAS for with potential FDA approval and full launch in 1H19. We update our model based on today’s news which lowers our revenue and EPS estimates. We remain $70 PT (vs. $80 prior).”
According to TipRanks.com, Olson has currently no stars on a ranking scale of 0-5 stars, with an average return of -2.7% and a 39.1% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Portola Pharma with a $65 average price target, which is a 96.8% upside from current levels. In a report released today, Cowen & Co. also maintained a Buy rating on the stock with a $50 price target.
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