There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Synlogic Inc (SYBX – Research Report), Amarin (AMRN – Research Report) and Tandem Diabetes Care Inc (TNDM – Research Report) with bullish sentiments.
Synlogic Inc (SYBX)
In a report released today, Mark Breidenbach from Oppenheimer maintained a Buy rating on Synlogic Inc, with a price target of $15. The company’s shares closed yesterday at $8.58.
“2019 ASGCT meeting, Synlogic showcased recent progress with reformulating its synthetic biotics into dry, orally-available powders. New data focused on SYNB1618, the company’s lead product for phenylketonuria (PKU). We believe the availability of a shelf-stable, powdered formulation that can be packaged into capsules would substantially improve SYNB1618’s commercial viability. In non-clinical studies measuring phenylalanine turnover, powdered SYNB1618 performed similarly to the frozen liquid cell suspensions currently being utilized in the company’s ongoing Phase 1/2a trial. We believe Synlogic could transition to powdered formulations for future trials of both SYNB1618 and SYNB1020. Important clinical updates from both programs are expected in mid-2019 which could deliver clinical proof-of-concept. $15 PT.”
According to TipRanks.com, Breidenbach is a 3-star analyst with an average return of 2.4% and a 47.0% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Iovance Biotherapeutics Inc, Alpine Immune Sciences Inc, and Global Blood Therapeutics.
Currently, the analyst consensus on Synlogic Inc is a Strong Buy with an average price target of $20, implying a 133.1% upside from current levels. In a report released yesterday, Jefferies also initiated coverage with a Buy rating on the stock with a $18 price target.
Stifel Nicolaus analyst Derek Archila reiterated a Buy rating on Amarin today. The company’s shares closed yesterday at $18.70.
“We are reiterating our Buy rating on AMRN shares as we see this morning’s 1Q19 beat as in-line with our thesis that management’s 2019 Vascepa sales guidance is too conservative. We think shares should modestly outperform today. Based on our recent survey work and discussions with KOLs, we believe Vascepa will continue to enjoy robust growth on the back of the impressive REDUCE-IT outcomes data and expect the continued dissemination of Vascepa’s meaningful cardiovascular benefit along with the inclusion in the American Diabetes Association guidelines to drive utilization. Consensus estimates should tick up after today.”
According to TipRanks.com, Archila has 0 stars on 0-5 star ranking scale with an average return of -8.2% and a 33.1% success rate. Archila covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Rhythm Pharmaceuticals Inc, and Principia Biopharma Inc.
Currently, the analyst consensus on Amarin is a Strong Buy with an average price target of $38.67, which is a 106.8% upside from current levels. In a report issued on April 18, Cantor Fitzgerald also maintained a Buy rating on the stock with a $35 price target.
Tandem Diabetes Care Inc (TNDM)
In a report released today, Steven Lichtman from Oppenheimer maintained a Buy rating on Tandem Diabetes Care Inc, with a price target of $80. The company’s shares closed yesterday at $61.41.
“TNDM’s 1Q sales of $66.0M (+142% y/y) were well above our/Street’s $50.3M/ $47.5M led by strong US pump shipments (+118% y/y), and continued international expansion ($11M). FY19 guidance was raised to $300-315M, from $255-270M, on expectations of higher domestic pump growth. SG&A leverage and slightly better gross margin (50.6% vs. our 49.0%), in addition to the sales beat, led to a lower operating loss of $10.9M versus our $17.3M estimate. The 2019 sales drivers are ongoing Basal-IQ launch, Animas exit and international expansion. As we head into ‘20, we expect new drivers to build: increased pump renewal contribution, Control-IQ launch (4Q19E) and t:sport introduction (2H20E). Next catalyst is Control-IQ pivotal data at ADA in June. Reiterate Outperform.”
According to TipRanks.com, Lichtman is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.8% and a 44.8% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Boston Scientific Corp, and Zimmer Biomet Holdings.
Tandem Diabetes Care Inc has an analyst consensus of Strong Buy, with a price target consensus of $74.83.
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