There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Opiant Pharmaceuticals Inc (OPNT – Research Report) and Viewray (VRAY – Research Report) with bullish sentiments.
Opiant Pharmaceuticals Inc (OPNT)
Northland Securities analyst Carl Byrnes maintained a Buy rating on Opiant Pharmaceuticals Inc today and set a price target of $42. The company’s shares closed yesterday at $12.90, close to its 52-week low of $9.98.
“We are raising our 2019 royalty forecast to $21.1MM, up from $17.1MM, based upon our revised NARCAN sales projection of $252.5MM, vs. $215.5MM. We also anticipate the Co. to recognize a $13.5MM commercial milestone in 4Q19. Finally, the Co.’s pipeline is progressing well, with TLR of the confirmatory PK study of OPNT003 (intranasal nalmefene) for opioid overdose reversal this year, w/ stability testing in 2020 supporting NDA submission in 2H2020 using the 505(b)(2) pathway. Key Points 2Q NARCAN Royalties @ $6.1MM on $73MM Sales: Opiant reported NARCAN royalties of $6.1MM for the 2Q19 period on sales by its partner, $73MM sales in the period. NARCAN sales for the 2Q period were up 11.5% sequentially, with 1H19 total sales at $138.5MM. The Co.”
According to TipRanks.com, Byrnes is ranked 0 out of 5 stars with an average return of -12.5% and a 26.8% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Aridis Pharmaceuticals Inc, Adamas Pharmaceuticals, and Flexion Therapeutics.
Currently, the analyst consensus on Opiant Pharmaceuticals Inc is a Moderate Buy with an average price target of $42.
Northland Securities analyst Suraj Kalia maintained a Buy rating on Viewray today and set a price target of $5. The company’s shares closed yesterday at $6.74.
“We confess, the soft unit orders in the qtr make us wonder if there was any impact from the bulk order win at GenesisCare by Elekta. Even if Elekta had to give massive discounts to entice the bulk order, that would imply that Elekta is ready to play hardball in terms of pricing, which we contend ViewRay lacks. of itself, introduces a new level of complexity in market analyses. Three orders in the qtr, zero cancellations. Backlog increased from ~$212M to $219M. Unit orders beginning Q1-18 have been 4, 6, 6, 8, 7, and 3, respectively. Our FY19 unit order estimate goes to 24 units (from 31). FY20 unit orders @ 54 remains unchanged.”
According to TipRanks.com, Kalia is a 5-star analyst with an average return of 9.7% and a 58.2% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Varex Imaging Corporation, and Strata Skin Sciences Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Viewray with a $12.83 average price target, a 90.4% upside from current levels. In a report issued on August 6, B.Riley FBR also maintained a Buy rating on the stock with a $12 price target.
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