Wall Street Analysts Are Bullish on Top Healthcare Picks

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Melinta Therapeutics Inc (MLNTResearch Report), Abeona Therapeutics (ABEOResearch Report) and Translate Bio Inc (TBIOResearch Report) with bullish sentiments.

Melinta Therapeutics Inc (MLNT)

In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Melinta Therapeutics Inc, with a price target of $45. The company’s shares closed on Friday at $4.06, close to its 52-week low of $3.22.

According to TipRanks.com, Arce is a 4-star analyst with an average return of 7.9% and a 40.8% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Collegium Pharmaceutical, and Conatus Pharmaceuticals.

Melinta Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $30, implying a 638.9% upside from current levels. In a report issued on March 13, Cantor Fitzgerald also maintained a Buy rating on the stock with a $15 price target.

See today’s analyst top recommended stocks >>

Abeona Therapeutics (ABEO)

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Abeona Therapeutics, with a price target of $30. The company’s shares closed on Friday at $7.52, close to its 52-week low of $6.26.

Selvaraju noted:

“Valuation methodology, risks and uncertainties. We ascribe a total risk-adjusted net present value (rNPV) of $1.46B to Abeona’s technology platforms, which yields a price per share of $30.00 based on about 48M shares outstanding as of end-2019. We utilize an 85% probability of success for EB-101.”

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -5.6% and a 29.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

Abeona Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $25, implying a 232.4% upside from current levels. In a report issued on March 19, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $29 price target.

Translate Bio Inc (TBIO)

In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Translate Bio Inc, with a price target of $21. The company’s shares closed on Friday at $8.96.

Fein commented:

“We do not believe that the IND clinical hold, announced on January 22, 2019, takes the wind out of the OTC program, but rather that the new timeframe merely necessitates the company adjust its sails and proceed on the defined course outlined by the FDA. Based on the company’s proactive identification of the preclinical work necessary to fulfill the FDA’s toxicology request, we feel there is reason to have confidence that this new course is feasible and can possibly lead to transition into the anticipated clinical development of MRT5201 in OTC patients. We are encouraged that the company expects both the completion of the necessary preclinical studies and to provide its complete response to the FDA in 4Q19.”

According to TipRanks.com, Fein is a 5-star analyst with an average return of 8.1% and a 47.4% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, DBV Technologies SA – American, and ACADIA Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Translate Bio Inc with a $21 average price target.

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