There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Ligand Pharma (LGND), CytoDyn Inc (CYDY) and Coherus Biosciences (CHRS) with bullish sentiments.
Ligand Pharma (LGND)
H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Ligand Pharma today and set a price target of $214. The company’s shares closed yesterday at $116.77, close to its 52-week low of $98.56.
Pantginis observed:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $214 price target. Our target is based on sum of the parts including: (1) a clinical NPV model of assets in Phase 2 development or greater (currently 30 out of over 200 assets under development); and (2) NPV of current revenues based on our projections for royalties, material sales, and collaborative revenue.”
According to TipRanks.com, Pantginis is a 2-star analyst with an average return of 0.3% and a 36.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Ligand Pharma has an analyst consensus of Strong Buy, with a price target consensus of $160.75.
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CytoDyn Inc (CYDY)
H.C. Wainwright analyst Yi Chen reiterated a Buy rating on CytoDyn Inc today and set a price target of $1.50. The company’s shares closed yesterday at $0.45.
Chen observed:
“Our 12-month price target is derived from an estimated market value of the firm at $585M. It includes a discounted cash flow-based asset value of $592M for leronlimab in the HIV indication alone, with a 15% discount rate, 2% terminal growth rate, 80% probability of approval, and excluding $8M debt. Assuming 391M shares outstanding at the end of May 2020, this translates to a per share value of approximately $1.50.”
According to TipRanks.com, Chen is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -22.2% and a 35.6% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aerpio Pharmaceuticals Inc, HTG Molecular Diagnostics, and Aslan Pharmaceuticals Ltd.
Currently, the analyst consensus on CytoDyn Inc is a Moderate Buy with an average price target of $1.50.
Coherus Biosciences (CHRS)
In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Coherus Biosciences, with a price target of $28. The company’s shares closed yesterday at $19.72.
Tsao wrote:
“Our $28 price target for Coherus 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 10.4% based on the company’s WACC (Beta of 1.1, equity risk premium of 6.7%). We adjust each indication for probability of success with Udenyca at 100% as a commercialized asset and since they’ve successfully completed Phase 3 testing.”
According to TipRanks.com, Tsao is a 3-star analyst with an average return of 2.1% and a 52.3% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Crinetics Pharmaceuticals Inc, Protagonist Therapeutics, and Minerva Neurosciences.
Coherus Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $28, representing a 42.0% upside. In a report released today, Barclays also reiterated a Buy rating on the stock with a $31 price target.
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