Analysts have been eager to weigh in on the Healthcare sector with new ratings on Varian Medical Systems (VAR) and CymaBay Therapeutics (CBAY).
Varian Medical Systems (VAR)
In a report released today, Michael Petusky from Barrington maintained a Buy rating on Varian Medical Systems, with a price target of $146. The company’s shares closed last Monday at $117.53.
Petusky observed:
“We strongly suspect that radiation that is delivered via the Ethos system will receive very high marks from both clinicians and patients alike. Ethos currently has its CE Mark while a 510(k) regulatory clearance in the U.S. is still pending.”
According to TipRanks.com, Petusky is a 4-star analyst with an average return of 4.5% and a 50.6% success rate. Petusky covers the Healthcare sector, focusing on stocks such as Anika Therapeutics Inc, Merit Medical Systems, and DENTSPLY SIRONA Inc.
Varian Medical Systems has an analyst consensus of Moderate Buy, with a price target consensus of $146.67.
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CymaBay Therapeutics (CBAY)
B.Riley FBR analyst Mayank Mamtani reiterated a Hold rating on CymaBay Therapeutics today and set a price target of $8. The company’s shares closed last Monday at $5.63, close to its 52-week low of $4.82.
Mamtani noted:
“In preparation for CymaBay Therapeutics’s (CBAY) transition into a commercial-stage company, beginning 2022, it recently announced two constructive developments regarding its senior leadership, including the departure of the chief medical officer (CMO) and hiring of a new chief commercial officer (CCO) on 9/17 and 8/5, respectively. We view these as incrementally positive for CBAY’s primary focus of establishing seladelpar as a differentiated orphan disease drug for cholestatic fibroinflammatory conditions, such as Primary Biliary Cholangitis (PBC) and Primary Sclerosing Cholangitis (PSC).”
According to TipRanks.com, Mamtani is a 1-star analyst with an average return of -3.9% and a 33.8% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Madrigal Pharmaceuticals Inc.
Currently, the analyst consensus on CymaBay Therapeutics is a Strong Buy with an average price target of $13.80.
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