There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Xoma Corp (XOMA), Syndax Pharmaceuticals Inc (SNDX) and Novan Inc (NOVN) with bullish sentiments.
Xoma Corp (XOMA)
H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Xoma Corp today and set a price target of $30. The company’s shares closed yesterday at $13.23, close to its 52-week low of $11.02.
Pantginis said:
“We reiterate our Buy rating and $30 target. We highlight that we currently omit the 38 undisclosed partnered assets at the company, and look to provide potential contribution once identification and terms are delineated. Further, we do not include valuation contribution from projected cash flow from expected milestone payments from partners. Our clinical NPV model allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”
According to TipRanks.com, Pantginis is a 1-star analyst with an average return of -1.2% and a 37.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Xoma Corp has an analyst consensus of Moderate Buy, with a price target consensus of $28.50.
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Syndax Pharmaceuticals Inc (SNDX)
H.C. Wainwright analyst Edward White maintained a Buy rating on Syndax Pharmaceuticals Inc today and set a price target of $16. The company’s shares closed yesterday at $7.36.
According to TipRanks.com, White is a 5-star analyst with an average return of 15.1% and a 50.3% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Aileron Therapeutics Inc, and Karyopharm Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Syndax Pharmaceuticals Inc with a $18.67 average price target, implying a 153.7% upside from current levels. In a report released today, Cowen & Co. also maintained a Buy rating on the stock.
Novan Inc (NOVN)
H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Novan Inc today and set a price target of $6. The company’s shares closed yesterday at $1.17.
Livnat commented:
“Our $6 12-month target is based on a probability of success (POS) weighted DCF. We assume SB206 (topical NO for molluscum) and SB204 (topical NO for acne) are approved in 2H21, and the company commercializes both products itself, and they achieve peak U.S. sales over $250M and $150M, respectively. We do not include any other pipeline contribution yet, or any potential ex-US partnership revenue. We project Novan profitability in 2024 (vs. prior 2024 after pushing out SB204 one year).”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 12.6% and a 53.4% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Hold analyst consensus rating for Novan Inc.
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