There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Trillium Therapeutics (TRIL), Cyclacel Pharmaceuticals (CYCC) and NovaBay Pharma (NBY) with bullish sentiments.
Trillium Therapeutics (TRIL)
H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Trillium Therapeutics today and set a price target of $10. The company’s shares closed yesterday at $2.49, close to its 52-week low of $2.28.
Ramakanth observed:
“We maintain our Buy rating of Trillium Therapeutics and our 12-month price target of $10.00 per diluted share. We derive our price target based on a risk-adjusted net present value (rNPV) analysis of projected TTI-621 revenues through 2030 assuming a 12% discount rate and a 3% terminal growth rate. We derive an rNPV of and add C$52M in cash and cash equivalents to arrive at a 12-month price target of $10.08 per diluted share, which we round to $10.00. 1) clinical; 2) commercial; 3) partnership; 4) financial; and 5) legal and intellectual property.”
According to TipRanks.com, Ramakanth is a 1-star analyst with an average return of -1.8% and a 33.2% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Leap Therapeutics Inc.
Currently, the analyst consensus on Trillium Therapeutics is a Moderate Buy with an average price target of $10, implying a 301.6% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock.
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Cyclacel Pharmaceuticals (CYCC)
In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Cyclacel Pharmaceuticals, with a price target of $7. The company’s shares closed yesterday at $1.11, close to its 52-week low of $1.08.
Fein said:
“Our current price target of $7/share ($5 from non-AML clinical pipeline + $2 in cash) is based on a discounted cash flow analysis using a 10% discount rate and 2% growth rate, in line with the expected discount and growth parameters of a development stage oncology company. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) a smaller than anticipated commercial opportunity due to market size, competition, and pricing.”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 7.2% and a 41.3% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Cyclacel Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $7.50.
NovaBay Pharma (NBY)
In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on NovaBay Pharma, with a price target of $3. The company’s shares closed yesterday at $1.11.
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -15.2% and a 20.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Aerpio Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NovaBay Pharma with a $3 average price target.
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