Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Nektar Therapeutics (NKTR), Verrica Pharmaceuticals Inc (VRCA) and Gritstone Oncology Inc (GRTS).
Nektar Therapeutics (NKTR)
H.C. Wainwright analyst Debjit Chattopadhyay reiterated a Hold rating on Nektar Therapeutics today and set a price target of $24. The company’s shares closed last Monday at $18.58, close to its 52-week low of $17.50.
Chattopadhyay noted:
“Our new 12-month, $24, vs. our prior $47 target on shares of Nektar is based on a 12-year DCF-driven, sum-of-the-parts analysis. Our DCF is driven by beta of 1.62, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 10.0%, and tax rate of 15% beginning in FY 2027.”
According to TipRanks.com, Chattopadhyay is ranked 0 out of 5 stars with an average return of -4.6% and a 37.8% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Precision BioSciences Inc, and Mersana Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nektar Therapeutics with a $42.67 average price target, which is an 110.7% upside from current levels. In a report issued on August 9, Mizuho Securities also downgraded the stock to Hold with a $21 price target.
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Verrica Pharmaceuticals Inc (VRCA)
H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Verrica Pharmaceuticals Inc today and set a price target of $23. The company’s shares closed last Monday at $9.31.
Livnat commented:
“We expect late-3Q or early-4Q molluscum NDA filing; and 4Q common warts EOP2 meeting. Last Wednesday, Verrica reported 2Q19 results that: reflected lower R&D and narrower net loss than we’d modeled, highlighted a quarter of strong execution, and reiterated plans going forward in line with our projections. In addition to reporting positive open-label Phase 2 data for VP-102—topical cantharidin drug-device combination—in common warts at the end of June, the company also initiated the Phase 2 in external genital warts. Verrica is still pushing toward a near-term NDA filing for VP-102 for molluscum contagiosum (MC), which had two robust positive Phase 3 studies, and for which we see $400M peak sales, representing the majority of our VRCA valuation.”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 6.1% and a 47.5% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Collegium Pharmaceutical, and Zynerba Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Verrica Pharmaceuticals Inc with a $27.33 average price target.
Gritstone Oncology Inc (GRTS)
H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Gritstone Oncology Inc today and set a price target of $16. The company’s shares closed last Monday at $9.57, close to its 52-week low of $8.75.
According to TipRanks.com, Ramakanth is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -11.7% and a 26.9% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Zomedica Pharmaceuticals Corp, IntelGenx Technologies, and Trillium Therapeutics.
Gritstone Oncology Inc has an analyst consensus of Strong Buy, with a price target consensus of $16.50, a 68.2% upside from current levels. In a report released yesterday, Cowen & Co. also maintained a Buy rating on the stock.
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