There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on G1 Therapeutics Inc (NASDAQ:GTHX) and Correvio Pharma Corp (NASDAQ:CORV) with bullish sentiments.
G1 Therapeutics Inc (GTHX)
H.C. Wainwright analyst Edward White maintained a Buy rating on G1 Therapeutics Inc today and set a price target of $61. The company’s shares closed yesterday at $60.54, close to its 52-week high of $64.83.
White wrote:
“We base our $61 price target on probability-adjusted revenue forecasts for trilaciclib in first line SCLC, second and third line SCLC, and metastatic TNB cancer plus lerociclib in ER+, HER2- breast cancer and EGFR mutant NSCLC. We use the net present value of our revenue forecast through 2026, apply a 35% POS for both products, a 3x price/sales multiple, and a $2.72/share value for the early stage pipeline that includes trilaciclib and lerociclib in other indications, and G1T48, which if approved will compete with Faslodex, a drug that recorded sales of $941M in 2017.”
According to TipRanks.com, White is a 5-star analyst with an average return of 26.2% and a 56.4% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Currently, the analyst consensus on G1 Therapeutics Inc is a Strong Buy with an average price target of $60.50.
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Correvio Pharma Corp (CORV)
In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Correvio Pharma Corp, with a price target of $9.50. The company’s shares closed yesterday at $5.04, close to its 52-week high of $5.24.
Ramakanth said:
“We maintain our Buy rating of Correvio and our 12-month price target of $9.50 per share. We derive our price target based on the average of two valuation methods: (1) price-sales multiple analysis applying a 4x multiple to our 2025 risk-adjusted revenue estimate discounted at 12%; and (2) price-earnings multiple analysis applying an 18x multiple to our 2025 estimated earnings discounted at 12%. (1) commercial; (2) clinical; (3) partnership; (4) financial; and (5) intellectual property.”
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 9.9% and a 41.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Leap Therapeutics Inc.
Correvio Pharma Corp has an analyst consensus of Moderate Buy, with a price target consensus of $6.40.
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