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Wall Street Analysts Are Bullish on Top Healthcare Picks


There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on ImmunoGen (NASDAQ:IMGN) and BioDelivery (NASDAQ:BDSI) with bullish sentiments.

ImmunoGen (IMGN)

In a report released today, Debjit Chattopadhyay from H.C. Wainwright maintained a Buy rating on ImmunoGen, with a price target of $18. The company’s shares closed on Friday at $7.89.

Chattopadhyay wrote:

“Augmented balance sheet takes ImmunoGen into its potential marketing approval in 2020. ImmunoGen announced the closing of its previously disclosed underwritten public offering that netted approximately $163M on ImmunoGen’s balance sheet.”

According to TipRanks.com, Chattopadhyay has currently no stars on a ranking scale of 0-5 stars, with an average return of -2.4% and a 40.8% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.

ImmunoGen has an analyst consensus of Strong Buy, with a price target consensus of $19.

See today’s analyst top recommended stocks >>

BioDelivery (BDSI)

H.C. Wainwright analyst Oren Livnat maintained a Buy rating on BioDelivery today and set a price target of $5. The company’s shares closed on Friday at $2.96, close to its 52-week high of $3.20.

Livnat commented:

“Our $5 12-month price target (from $4) is based on a DCF which reflects a strong Belbuca sales ramp to over $150M by 2022, cash-flow breakeven by end-2019, and overall profitability in 2020. Our DCF reflects a 10.5% WACC discount and negative -15% terminal value beyond 2027, and reflects a fully-diluted 93M shares out (post-financing, and including other currently anti-dilutive shares). An alternate P/E approach yields a similar $5/share value when applying a 30x multiple (1x PEG) to our 2021 fully-taxed EPS, discounted back to late-2019.”

According to TipRanks.com, Livnat is a 2-star analyst with an average return of 1.2% and a 51.3% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Zynerba Pharmaceuticals, Pacira Pharmaceuticals, and Jazz Pharmaceuticals.

BioDelivery has an analyst consensus of Strong Buy, with a price target consensus of $4.33, a 46.3% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $4.50 price target.

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