There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on RedHill Biopharma (RDHL) and Ligand Pharma (LGND) with bullish sentiments.
RedHill Biopharma (RDHL)
In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on RedHill Biopharma, with a price target of $16. The company’s shares closed yesterday at $7.29.
According to TipRanks.com, Ramakanth ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.8% and a 31.7% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as IntelGenx Technologies, Gritstone Oncology Inc, and Trillium Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for RedHill Biopharma with a $18.67 average price target, implying a 156.1% upside from current levels. In a report issued on July 12, WBB Securities also upgraded the stock to Buy with a $17 price target.
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Ligand Pharma (LGND)
In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Ligand Pharma, with a price target of $214. The company’s shares closed yesterday at $110.07, close to its 52-week low of $98.56.
Pantginis said:
“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 has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.1% and a 32.6% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Iovance Biotherapeutics Inc.
Ligand Pharma has an analyst consensus of Strong Buy, with a price target consensus of $160.75.
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