Analysts Bullish on Top Healthcare Picks

There’s a lot to be optimistic about in the Healthcare sector as 3 experts just weighed in on Aerie Pharma (NASDAQ: AERI), Invacare Corp. (NYSE: IVC) and Xenon (NASDAQ: XENE) with bullish sentiments.

Aerie Pharma (NASDAQ: AERI)

In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Aerie Pharma (NASDAQ: AERI), with a price target of $50. The company’s shares opened today at $39.55, close to its 52-week high of $41.72.

Piros said, “At Ease: There were those who believed that Aerie enrolled patients with mild glaucoma, when in fact the baseline intraocular pressure (IOP) was 20-36mmHg and the mean IOP was 23.7mmHg, right in the middle of the range in the trials of five other approved drugs. There were also some concerns that Rhopressa (one of the ingredients of Roclatan) appeared numerically inferior to standard of care latanoprost (the other ingredient of Roclatan).”

According to TipRanks.com, Piros is a 4-star analyst with an average return of 10.4% and a 49.3% success rate. Piros covers the Healthcare sector, focusing on stocks such as Dimension Therapeutics Inc, Conatus Pharmaceuticals, and Galmed Pharmaceuticals.

Currently, the analyst consensus on Aerie Pharma is Strong Buy and the average price target is $51, representing a 29.0% upside.

In a report issued on September 29, Brean Capital also reiterated a Buy rating on the stock with a $48 price target.
Invacare Corp. (NYSE: IVC)

In a report released today, Matthew Mishan from KeyBanc reiterated a Buy rating on Invacare Corp. (NYSE: IVC), with a price target of $17. The company’s shares opened today at $11.55, close to its 52-week low of $9.89.

Mishan commented, “We believe NT expectations for several more quarters of 1H16 type results are now embedded in the stock. By early/mid 2017, there is likely stabilization/moderating sales declines driven by: 1) an increasing benefit from its investments in a clinical/specialized salesforce; 2) the anniversary of the majority of the portfolio optimization that began January 2016; and 3) a dealer base more adjusted to the reimbursement changes from NCB with rural rollout and round two re-compete both in effect July 2016. Our expectation for resolution of the consent decree (CD) is now pushed toward 2018; however, there are certain milestones that could be catalysts for the stock and it likely moves ahead of a final exit. The most NT event (next two quarters) is remediation of product design history files and then recertification by external auditors, which would allow the FDA to potentially accept the more comprehensive third-party certification submitted in February.”

According to TipRanks.com, Mishan is a 2-star analyst with an average return of 0.5% and a 72.7% success rate. Mishan covers the Healthcare sector, focusing on stocks such as Integer Holdings Corporation, Halyard Health, and Angiodynamics.

Invacare Corp. has an analyst consensus of Hold.

Xenon (NASDAQ: XENE)

In a report released today, Hugo Ong from Jefferies reiterated a Buy rating on Xenon (NASDAQ: XENE), with a price target of $13. The company’s shares opened today at $7.80.

According to TipRanks.com, Ong is a 4-star analyst with an average return of 16.5% and a 82.4% success rate. Ong covers the Healthcare sector, focusing on stocks such as Teva Pharma, Celldex, and Acelrx.

Currently, the analyst consensus on Xenon is Strong Buy and the average price target is $13, representing a 66.7% upside.

In a report issued on September 26, Guggenheim also initiated coverage with a Buy rating on the stock with a $20 price target.