There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Novavax (NVAX), Rubius Therapeutics Inc (RUBY) and Novan Inc (NOVN) with bullish sentiments.
Novavax (NVAX)
In a report released yesterday, George Zavoico from B.Riley FBR maintained a Buy rating on Novavax, with a price target of $35. The company’s shares closed last Monday at $4.30, close to its 52-week low of $4.01.
Zavoico commented:
“Yesterday morning, August 12, Novavax Inc. (NVAX – Buy, $35 PT) announced additional, positive results from its Phase III Prepare trial of ResVax, showing robust protection from all causes of pneumonia in newborn infants one year after birth, including respiratory syncytial virus (RSV)- associated pneumonia. The results demonstrate that, by preventing RSV infection, ResVax also protects newborn infants from infection by other microbes. In effect, preventing a sore throat, runny nose, and nasal and bronchial congestion caused by RSV denies other microbes a suitable environment to colonize and proliferate, for as long as one year after birth.”
According to TipRanks.com, Zavoico ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -8.0% and a 36.2% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, BioLife Solutions, and Infinity Pharma.
Currently, the analyst consensus on Novavax is a Strong Buy with an average price target of $29.88, representing a 637.8% upside. In a report issued on August 8, Ladenburg Thalmann & Co. also maintained a Buy rating on the stock with a $42.50 price target.
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Rubius Therapeutics Inc (RUBY)
H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on Rubius Therapeutics Inc today and set a price target of $40. The company’s shares closed last Monday at $11.04, close to its 52-week low of $10.47.
According to TipRanks.com, Fein is a 3-star analyst with an average return of 0.7% and a 41.6% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, DBV Technologies SA – American, and Proteostasis Therapeutics Inc.
Rubius Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $32.50.
Novan Inc (NOVN)
In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on Novan Inc, with a price target of $6. The company’s shares closed last Monday at $2.48.
Livnat observed:
“Our $6 12-month target is based on a probability of success (POS) weighted DCF. We assume SB206 (topical NO for molluscum; peak over $250M sales) and SB204 (topical NO for acne; peak over $150M sales) launch in late 2021 and 2022, respectively. We project the company commercializes both products itself. We do not include any other pipeline contribution yet, or any potential ex-US partnership revenue. We project Novan profitability in 2024.”
According to TipRanks.com, Livnat is a 4-star analyst with an average return of 6.0% and a 47.9% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Collegium Pharmaceutical.
Novan Inc has an analyst consensus of Moderate Buy, with a price target consensus of $6.
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