There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Novavax (NVAX) and Crinetics Pharmaceuticals Inc (CRNX) with bullish sentiments.
Novavax (NVAX)
In a report released today, Vernon Bernardino from H.C. Wainwright reiterated a Buy rating on Novavax, with a price target of $17. The company’s shares closed last Monday at $4.30, close to its 52-week low of $4.01.
Bernardino wrote:
“We derived our price target of $17 using DCF methodology with a 30% discount rate, 2% terminal growth rate, and a clinical program probability of success of 72%. Risks to our investment thesis include failure of clinical trials, regulatory requirements for additional clinical studies, unproven commercialization strategy, failure of products to show sufficient differentiation in targeted therapeutic indications, patent expiry or invalidation, and potential to raise additional funds under poor market conditions.”
According to TipRanks.com, Bernardino is ranked 0 out of 5 stars with an average return of -7.4% and a 28.0% success rate. Bernardino covers the Healthcare sector, focusing on stocks such as Innovus Pharmaceuticals Inc, ENDRA Life Sciences Inc, and Cassava Sciences Inc.
Currently, the analyst consensus on Novavax is a Strong Buy with an average price target of $28.63, a 606.9% upside from current levels. In a report issued on August 6, B.Riley FBR also maintained a Buy rating on the stock with a $35 price target.
See today’s analyst top recommended stocks >>
Crinetics Pharmaceuticals Inc (CRNX)
In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Crinetics Pharmaceuticals Inc, with a price target of $35. The company’s shares closed last Monday at $19.40, close to its 52-week low of $17.32.
Tsao said:
“We reiterate our Buy rating and $35 price target for Crinetics, which is based on our sum-of-the-parts NPV valuation based on each of the company’s ongoing products. Our DCF model utilizes a discount rate of 12.2% based on the company’s WACC (Beta of 1.1, equity risk premium of 6.7%).”
According to TipRanks.com, Tsao is a 1-star analyst with an average return of -0.6% and a 44.7% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Outlook Therapeutics Inc, Protagonist Therapeutics, and Minerva Neurosciences.
Currently, the analyst consensus on Crinetics Pharmaceuticals Inc is a Moderate Buy with an average price target of $35.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
