There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Acelrx (ACRX), Syndax Pharmaceuticals Inc (SNDX) and Viewray (VRAY) with bullish sentiments.
Acelrx (ACRX)
In a report released yesterday, David Buck from B.Riley FBR reiterated a Buy rating on Acelrx, with a price target of $9. The company’s shares opened today at $3.90.
Buck wrote:
“We reiterate our Buy rating and $9 per share target for AcelRx (ACRX) shares following FDA approval for its drug DSUVIA (sufentanil sublingual tablet) for acute pain in a medically supervised setting. FDA Commissioner Gottlieb recently gave justification for why DSUVIA warranted approval within a context of the opioid crisis and higher scrutiny. AcelRx on its conference call for the DSUVIA approval (and 3Q18 results) highlighted key elements of an FDA Strategies program including only distributing (via wholesalers) to “certified” medically-supervised healthcare settings. US commercialization is on-track for 1Q19 with 9 of 15 account managers hired. An initial 15 account managers by 1Q19 should expand to 60 reps by 1H 2020.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 9.1% and a 53.8% success rate. Buck covers the Healthcare sector, focusing on stocks such as Amneal Pharmaceuticals Inc, Corcept Therapeutics Inc, and Spectrum Pharmaceuticals.
Currently, the analyst consensus on Acelrx is a Strong Buy with an average price target of $8.67, implying a 122.3% upside from current levels. In a report issued on October 22, RBC Capital also maintained a Buy rating on the stock with a $7 price target.
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Syndax Pharmaceuticals Inc (SNDX)
In a report released today, Madhu Kumar from B.Riley FBR reiterated a Buy rating on Syndax Pharmaceuticals Inc, with a price target of $40. The company’s shares opened today at $5.23, close to its 52-week low of $4.36.
Kumar commented:
“Yesterday after market close, 11/5/18, Syndax Pharmaceuticals (SNDX) announced 3Q18 earnings and provided a corporate update. We remind investors of the highly favorable risk- reward dynamic for lead asset, histone deacetylase inhibitor entinostat, along with Aromasin in hormone receptor-positive breast cancer (HR+ BC) in the ongoing Phase III E2112 trial, with interim overall survival (OS) readouts in May/Nov-19 as potential key catalysts. Beyond E2112, we see additional free optionality for SNDX shares in the upcoming Phase II/III trial of entinostat plus PD-1 inhibition in non-small cell lung cancer (NSCLC) and ongoing clinical studies for CSF-1R monoclonal antibody SNDX-6352 and Menin-MLL inhibitor. After model updates, we reiterate our SNDX Buy rating and $40 price target.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 14.2% and a 41.8% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Clementia Pharmaceuticals Inc.
Currently, the analyst consensus on Syndax Pharmaceuticals Inc is a Strong Buy with an average price target of $18.60, which is a 255.6% upside from current levels. In a report issued on October 26, H.C. Wainwright also maintained a Buy rating on the stock with a $23 price target.
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Viewray (VRAY)
B.Riley FBR analyst Andrew D’silva reiterated a Buy rating on Viewray today and set a price target of $14.25. The company’s shares opened today at $9.21.
D’silva said:
“ViewRay, Inc. (VRAY) reports 3Q18 results AMC Thursday, 11/8, and will host a conference call at 4:30 p.m. ET. The dial-in/conference ID numbers: and 6190699 , respectively. We are comfortable with our/consensus top- and bottom-line estimates , but note sales have the potential to be very lumpy: Revenue recognized from one MRIdian Linac can dramatically change a quarter’s results, and VRAY has stringent revenue-recognition protocols that typically require the customer to acknowledge the system operates/meets product specifications. Thus, we believe it is best to evaluate VRAY on an annual basis, and note our 2018 revenue estimate of $86.1M is near the midpoint of management’s $80M to $90M revenue guidance range.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 15.1% and a 48.0% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals Inc., Sorrento Therapeutics, and Kindred Biosciences.
Currently, the analyst consensus on Viewray is a Strong Buy with an average price target of $14.65, a 59.1% upside from current levels. In a report issued on October 23, Mizuho Securities also maintained a Buy rating on the stock with a $13 price target.
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