Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Novavax (NVAX), Alimera (ALIM) and AVEO Pharma (AVEO).
Novavax (NVAX)
In a report released today, George Zavoico from B.Riley FBR maintained a Buy rating on Novavax, with a price target of $35. The company’s shares closed last Monday at $6.32, close to its 52-week low of $4.01.
Zavoico said:
“This summer, Novavax (NVAX) was advised by both the FDA and EMA on an acceptable clinical development path to licensure for NanoFlu, a quadrivalent seasonal influenza vaccine, and ResVax, a respiratory syncytial virus (RSV) vaccine. The FDA enabled a faster and less costly Accelerated Approval pathway to a BLA submission for NanoFlu, with immunogenicity, not efficacy, as the primary endpoint for licensure in the U.S. The FDA and EMA were in agreement that Novavax must conduct a new Phase III trial of ResVax to protect newborn infants from RSV infection by maternal immunization. Novavax lobbied for a conditional marketing authorization pathway that would have allowed a BLA submission, based on results of the Phase III Prepare trial that just missed primary endpoint but met several secondary endpoints.”
According to TipRanks.com, Zavoico is ranked 0 out of 5 stars with an average return of -6.6% and a 38.7% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Acasti Pharma, Inc., and Infinity Pharma.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Novavax with a $26.88 average price target, which is a 378.3% upside from current levels. In a report issued on September 10, Oppenheimer also reiterated a Buy rating on the stock with a $13 price target.
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Alimera (ALIM)
B.Riley FBR analyst Andrew D’silva assigned a Buy rating to Alimera today and set a price target of $2. The company’s shares closed last Monday at $0.41, close to its 52-week low of $0.32.
D’silva said:
“We believe ALIM expanding Iluvien into NIPU in Germany could be a meaningful contributor to the company’s top-line in 2H19 and better position ALIM to hit its Y/Y growth targets. We expect launching into Benelux countries (Belgium, Netherlands, and Luxembourg), could be an incremental driver in 2H20 and 2021, after reimbursement is established.”
According to TipRanks.com, D’silva is a 3-star analyst with an average return of 1.7% and a 39.2% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Cumberland Pharmaceuticals Inc, Oramed Pharmaceuticals, and Sensus Healthcare Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alimera with a $1.75 average price target, representing a 307.0% upside. In a report issued on September 4, H.C. Wainwright also reiterated a Buy rating on the stock with a $1.50 price target.
AVEO Pharma (AVEO)
B.Riley FBR analyst Harshita Polishetty reiterated a Hold rating on AVEO Pharma today and set a price target of $0.85. The company’s shares closed last Monday at $0.94, close to its 52-week low of $0.49.
Polishetty observed:
“Last week (9/10/19), AVEO Pharmaceuticals (AVEO) announced results from the second pre- specified interim analysis of overall survival (OS) from the TIVO-3 trial, which included an OS hazard ratio (HR) of 0.99 (95% CI: 0.76-1.29; p=0.95). As a reminder, the Phase III TIVO-3 trial that enrolled 350 patients with metastatic renal call carcinoma (RCC) who failed at least two prior regimens, is investigating the company’s lead candidate, Fotvida (tivozanib), a vascular endothelial growth factor receptor (VEGFR) tyrosine kinase inhibitor (TKI) vs. Nexavar (sorafenib). Median OS was reported to be 16.4 months for tivozanib vs. 19.7 months for the sorafenib arm. In light of the OS update, which we expand on below, we are further lowering our probability of success (PoS) for tivozanib in RCC to 35%, resulting in a reduced price target from $1.00 to $0.85. We reiterate our Neutral rating.”
According to TipRanks.com, Polishetty is a 5-star analyst with an average return of 32.3% and a 79.2% success rate. Polishetty covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Karyopharm Therapeutics.
Currently, the analyst consensus on AVEO Pharma is a Moderate Buy with an average price target of $2.20.
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