H.C. Wainwright analyst Edward White maintained a Buy rating on Celyad (NASDAQ: CYAD) today and set a price target of $46. The company’s shares opened today at $25.73, close to its 52-week low of $22.17.
White said:
“We base our $46 price target on probability-adjusted revenue forecasts for CYAD-01 in r/r AML and third line metastatic CRC. We use the net present value of our revenue forecast through 2026, apply a 25% POS for AML and 20% POS for CRC, a 4x price/sales multiple. We include our year-end 2018 estimated fully diluted net cash of $4.39/share (assuming €1.00 = $1.15) to arrive at our price target. Our P/S multiple of 4x is in-line with Celyad’s peers that range between 2-5x.”
According to TipRanks.com, White is a 5-star analyst with an average return of 13.0% and a 44.0% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Celyad has an analyst consensus of Moderate Buy, with a price target consensus of $46, which is a 78.8% upside from current levels. In a report issued on October 30, William Blair also initiated coverage with a Buy rating on the stock.
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The company has a one-year high of $59.05 and a one-year low of $22.17. Currently, Celyad has an average volume of 7,885.
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Celyad SA is a clinical-stage biopharmaceutical company, which engages in the identification and development of specialized cell-based therapies. Its products include cardiopoiesis platform, immuno-oncology, and medical devices. The company was founded by Michel Lussier and William Wijns on July 24, 2007 and is headquartered in Mont-Saint-Guibert, Belgium.
