There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on SurModics (SRDX) and Lexicon Pharmaceuticals (LXRX) with bullish sentiments.
SurModics (SRDX)
Barrington analyst Michael Petusky maintained a Buy rating on SurModics today and set a price target of $64. The company’s shares closed last Monday at $46.05.
Petusky wrote:
“We think the next piece of news flow for the SurVeil DCB is very likely the granting of a CE Mark, which could come before calendar year‐end 2019. Finally, the company believes (as we do) that recent commentary from the FDA regarding the modification to informed consent and clinical study protocol (due to the elevated mortality signal associated with paclitaxel coated devices first disclosed late in 2018) is largely benign. It should, in the view of management, be quite manageable for the company as it moves forward with its DCB program (including its efforts in developing AV fistula and BTK below‐the knee DCBs).”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 4.4% and a 52.8% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Varian Medical Systems, and Merit Medical Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SurModics with a $66 average price target, a 41.8% upside from current levels. In a report issued on August 28, Needham also reiterated a Buy rating on the stock with a $68 price target.
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Lexicon Pharmaceuticals (LXRX)
Wedbush analyst Liana Moussatos reiterated a Buy rating on Lexicon Pharmaceuticals today and set a price target of $17. The company’s shares closed last Monday at $2.29, close to its 52-week low of $1.13.
According to TipRanks.com, Moussatos has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.6% and a 31.1% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Allena Pharmaceuticals Inc, and Aquestive Therapeutics Inc.
Lexicon Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $7.67, representing a 265.2% upside. In a report released yesterday, Citigroup also maintained a Buy rating on the stock with a $3 price target.
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