There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Aridis Pharmaceuticals Inc (ARDS) and SCYNEXIS (SCYX) with bullish sentiments.
Aridis Pharmaceuticals Inc (ARDS)
In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Aridis Pharmaceuticals Inc, with a price target of $25. The company’s shares opened today at $9.87.
McCarthy said:
“Aridis has entered into an equity purchase and option agreement with India (private, see pg 2). Aridis will receive a $10M investment (~800k shares at $12.47, a 31% premium) as well as $15M in total upfront payments. Additionally, Aridis will be eligible for development milestones as well as royalties on net sales.”
According to TipRanks.com, McCarthy has 0 stars on 0-5 star ranking scale with an average return of -20.7% and a 24.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Achieve Life Sciences Inc, and Adial Pharmaceuticals Inc.
Aridis Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $32.50, representing a 229.3% upside. In a report released yesterday, Northland Securities also reiterated a Buy rating on the stock with a $40 price target.
See today’s analyst top recommended stocks >>
SCYNEXIS (SCYX)
In a report released today, Nathan Weinstein from Aegis Capital maintained a Buy rating on SCYNEXIS, with a price target of $3. The company’s shares opened today at $1.15.
Weinstein noted:
“We think there’s significant unmet need in these areas, and that SCYNEXIS’s lead candidate, ibrexafungerp (IBX) has the potential to improve patient outcomes and gain meaningful market share across numerous indications while becoming a valuable weapon in the antifungal armamentarium.”
According to TipRanks.com, Weinstein is ranked #3439 out of 5253 analysts.
Currently, the analyst consensus on SCYNEXIS is a Strong Buy with an average price target of $4.42, implying a 284.3% upside from current levels. In a report issued on July 25, H.C. Wainwright also reiterated a Buy rating on the stock with a $4.50 price target.
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