There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Inovio Pharmaceuticals (INO), NuVasive (NUVA) and Dicerna Pharma (DRNA) with bullish sentiments.
Inovio Pharmaceuticals (INO)
Inovio Pharmaceuticals received a Buy rating and a $13 price target from H.C. Wainwright analyst Ram Selvaraju today. The company’s shares closed yesterday at $4.93.
Selvaraju noted:
“Our 12-month price target is derived from a market value of the firm at $1.4B, which includes a discounted cash flow based asset value for 15% discount rate, 2% terminal growth rate and 80% probability of success.”
According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -16.4% and a 25.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Inovio Pharmaceuticals with a $10.50 average price target.
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NuVasive (NUVA)
In a report released today, Michael Matson from Needham maintained a Buy rating on NuVasive, with a price target of $61. The company’s shares closed yesterday at $45.45, close to its 52-week low of $44.62.
Matson noted:
“Yesterday, NUVA preannounced 4Q18 revenue that was below consensus due in part to disruptions in surgeon case volumes and capital order delays. Unlike last year, NUVA did not provide guidance, likely in order to give its new CEO more time to learn about the business. Looking into 2019, we think potential positives include: its recently launched new products, upcoming product launches including Pulse (and eventually a robotics system), its new CEO, and vertical integration cost savings. While these could be partially offset by potential negatives including tougher comps, risk of share loss to robotics, and reinvestment, we maintain our Buy rating given low expectations and the stock’s discount valuation.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 8.9% and a 54.9% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for NuVasive with a $67.67 average price target, which is a 48.9% upside from current levels. In a report released yesterday, Piper Jaffray also maintained a Buy rating on the stock with a $70 price target.
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Dicerna Pharma (DRNA)
In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Dicerna Pharma, with a price target of $24. The company’s shares closed yesterday at $11.60.
Arce wrote:
“We affirm our Buy rating and $24.00 PT. Additional details of Boehringer Ingelheim collaboration. Dicerna’s GalXC RNAi technology platform provides the foundation to develop RNAi-based gene-silencing therapies for liver diseases. BI obtained the worldwide license to develop product candidates against one target gene, with an optional second gene target that has now been exercised. In return for the license of the first target, Dicerna received a non-refundable upfront payment of $10M from BI, and will be eligible to receive up to $191M in potential development and commercial milestones, plus tiered (high single to low teen percentages) royalty payments based on global net sales of any approved product.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 7.6% and a 36.7% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Melinta Therapeutics Inc, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Dicerna Pharma with a $20.38 average price target.
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