There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Novavax (NVAX) and Kamada (KMDA) with bullish sentiments.
Novavax (NVAX)
Ladenburg Thalmann & Co. analyst Michael Higgins maintained a Buy rating on Novavax today and set a price target of $42.50. The company’s shares closed yesterday at $4.62, close to its 52-week low of $4.07.
Higgins said:
“We found the trial design is very supportive of NanoFlu’s approval, considering that the comparator in the pivotal is less effective than the comparator in the Phase 2, where NanoFlu demonstrated superior activity.”
According to TipRanks.com, Higgins has currently no stars on a ranking scale of 0-5 stars, with an average return of -13.3% and a 27.3% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Armata Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Achieve Life Sciences Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Novavax with a $21.42 average price target, a 363.6% 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.
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Kamada (KMDA)
In a report released today, Keay Nakae from Chardan Capital reiterated a Buy rating on Kamada, with a price target of $7. The company’s shares closed yesterday at $5.55.
Nakae wrote:
“We believe that Management is performing well in executing the base business. For now, the key potential inflection point is their Inhaled Alpha-1 Antitrypsin therapy for the treatment of alpha-1 antitrypsin deficiency (AATD) in the lung. We expect the global Phase 3 study to commence dosing of the first patients in the EU around the end of this year. Overall Q2 gross margin was also positively impacted by the revenue mix, increasing 1.5% to 38.6%, or $13.6 MM. Operating expenses of $7.2 MM increased by $1.7 MM from a year ago. R&D expense increased $1.1 MM to $3.5 MM, while SG&A was up $0.6 MM to $3.7 MM. The resulting Q2 net income was $6.1 MM, an increase of $0.5 MM from a year ago, while Q2 GAAP EPS was $0.15 vs $0.14 a year ago.”
According to TipRanks.com, Nakae has currently no stars on a ranking scale of 0-5 stars, with an average return of -11.3% and a 34.8% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Arcturus Therapeutics Ltd, and Emergent Biosolutions.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Kamada with a $9 average price target, implying a 62.2% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $11 price target.
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