There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Zynerba Pharmaceuticals (ZYNE), Audentes Therapeutics (BOLD) and Rigel (RIGL) with bullish sentiments.
Zynerba Pharmaceuticals (ZYNE)
In a report released today, Oren Livnat from H.C. Wainwright maintained a Buy rating on Zynerba Pharmaceuticals, with a price target of $23. The company’s shares closed yesterday at $10.31.
Livnat commented:
“Our $23 target is based on just a 35% probability of success weighted DCF including just Zygel (formerly ZYN002) in Fragile X Syndrome (FXS) assuming 1H21 approval and peak $700M U.S. sales. Our DCF includes a 13.5% WACC discount, and negative 5% terminal decline beyond 2028 (balancing the loss of potential orphan exclusivity with newly issued IP out to 2038. All else equal, if entirely de-risked, our DCF yields a much higher Zynerba valuation of $66/share, or a $1.7B equity value. Zynerba had $88.7M cash at end-2Q19 and no debt.”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 5.2% and a 49.6% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Collegium Pharmaceutical.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zynerba Pharmaceuticals with a $22.25 average price target, implying an 115.8% upside from current levels. In a report released today, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $26 price target.
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Audentes Therapeutics (BOLD)
H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on Audentes Therapeutics today and set a price target of $48. The company’s shares closed yesterday at $37.03.
Chattopadhyay observed:
“Our $48 target on shares of Audentes is linked to a 12-year DCF-based, sum-of-the-parts analysis, which includes commercial implications for: (1) AT132 being developed for XLMTM; (2) AT702 being developed for DMD exon mutations 1-5; and (3) AT845 that is being advanced as a one-and-done approach for Pompe disease. Note, Audentes is likely to expand its DMD franchise to encompass up to 26% of patients by targeting exons 51 and 53, pending preliminary data from AT702, not currently reflected in our model.”
According to TipRanks.com, Chattopadhyay has 0 stars on 0-5 star ranking scale with an average return of -3.2% and a 39.5% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Precision BioSciences Inc, and Voyager Therapeutics Inc.
Audentes Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $46.50, a 25.6% upside from current levels. In a report issued on July 29, Raymond James also resumed coverage with a Buy rating on the stock with a $46 price target.
Rigel (RIGL)
H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Rigel today and set a price target of $8. The company’s shares closed yesterday at $2.17, close to its 52-week low of $1.96.
Pantginis commented:
“Valuation and impediments to achieving price target. We reiterate our Buy rating and $8.00 price target. Our price target is based on our clinical net present value (NPV) model, which derives its value from Tavalisse without any current contribution from pipeline assets; the ITP indication in the U.S. and E.U. contributes 77% of our valuation, and wAIHA in the same markets contributes 23%. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”
According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -12.8% and a 27.8% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rigel with a $8 average price target.
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