Analysts’ Top Healthcare Picks: Zynerba Pharmaceuticals (ZYNE), Proteon (PRTO)

There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Zynerba Pharmaceuticals (ZYNEResearch Report) and Proteon (PRTOResearch Report) with bullish sentiments.

Zynerba Pharmaceuticals (ZYNE)

H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Zynerba Pharmaceuticals today and set a price target of $23. The company’s shares closed on Friday at $4.97.

Livnat wrote:

“We remain optimistic for positive data, though concede that investors will view this as extremely risky given only open-label data to date, and other companies’ failures in the indication. That said, on the Phase 3 primary “social avoidance” endpoint, open-label FAB-C Phase 2 showed a 55% improvement by week-12, which improved to over 75% at 12-months. Phase 3 will have steady-state dosing approximately double the length of at higher average dose per patient. CONNECT-FX is powered assuming placebo improvement of approximately 20% (higher than the 10-18% seen in the prior ganaxalone trial) and 40% improvement on Zygel (lower than seen in Phase 2). Ahead of FXS data, we expect open-label Phase 2 data for Zygel in rare developmental and epileptic encephalopathies (DEE), which is not yet even in our model.”

According to TipRanks.com, Livnat is a 4-star analyst with an average return of 12.6% and a 57.0% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Pacira Pharmaceuticals.

Zynerba Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $18.50, which is a 272.2% upside from current levels. In a report issued on March 7, Cantor Fitzgerald also maintained a Buy rating on the stock with a $11 price target.

See today’s analyst top recommended stocks >>

Proteon (PRTO)

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Proteon today and set a price target of $4. The company’s shares closed on Friday at $3.52.

Ramakanth noted:

“We maintain our Buy rating of PRTO and raise our 12-month price target to $4.00 per share, up from $3.00. We derive our PT on a risk-adjusted net present value analysis of projected vonapanitase revenues through 2029 assuming a 20% discount rate and 0% terminal value.”

According to TipRanks.com, Ramakanth is a 1-star analyst with an average return of -1.4% and a 36.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Gritstone Oncology Inc, Trillium Therapeutics, and Leap Therapeutics Inc.

Currently, the analyst consensus on Proteon is a Strong Buy with an average price target of $5.25, implying a 49.1% upside from current levels. In a report issued on March 7, Maxim Group also maintained a Buy rating on the stock with a $5 price target.

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