2020: Analysts are Giving These Biotech and Pharma Stocks Strong Northside Targets

2020: Analysts are Giving These Biotech and Pharma Stocks Strong Northside Targets


Iveric Bio, Inc. (NASDAQ:ISEE) was started with a Buy rating and was assigned a $13 price target at Wedbush Securities on 7 January. Wedbush sees the stock as undervalued as its lead asset Zimura is set to begin a pivotal clinical study in Q-1 of Y 2020 in the large geographic atrophy market with a $1-B+ estimated opportunity from a 1-M+ current patient population.

Kodiak Sciences Inc. (NYSE:KOD) was given a new Buy rating and a 100 target price at Jefferies on 3 January . The company aims to treat wet age-related macular degeneration and diabetic retinopathy. The most recent price of 67.75 would imply upside of over 47% if Jefferies is proven correct.

Mylan NV (NYSE:MYL) was reiterated as Outperform and the target price was raised to 27 from 25 at RBC Capital Markets on 7 January. The new target is against a recent price of 21.15, which implied about 28% Northside, and is now above-consensus rather than below consensus. RBC’s take is that the worst is behind Mylan, but analysts around Wall Street have a wide array of opinions and many are still doubting the company.

Neovasc Inc. (NASDAQ:NVCN) is a tiny micro-cap outfit that recently closed on just a $10-M share offering to raise capital. On 2 January Canaccord Genuity raised its target price to 10.00 based on reducer expanding its medium-term revenue potential. That is about 200% Northside from the current price if this very aggressive target comes to fruition. It has a 52-wk trading range of 2.34 – 11.00 and it is a Canada-based company.

Pacira BioSciences, Inc. (NASDAQ:PCRX) was reiterated as Outperform along with a 85 target price at Wedbush Securities on 7 January. This call would represent almost 100% implied upside if the call is proven correct in time from the current 42.85 share price. The driving force here is a recent study data showing that EXPAREL used in patients undergoing Cesarean section (C-section) for postoperative pain regimen with the firm’s understand that the opioid-free spinal anesthesia + EXPAREL TAP block arm achieved statistical significance against its target for the primary endpoint of reduction in postsurgical opioid consumption.

X4 Pharmaceuticals, Inc. (NASDAQ:XFOR) was started with a Buy rating and was assigned a 22.00 price target at HC Wainwright on 7 January. This is a small $130-M market cap stock and was trading at 10.45 on thin volume. It was just at the very end of Y 2019 that the company announced its initiation of a Phase 1b clinical trial of mavorixafor in combination with ibrutinib (Imbruvica) for the treatment of Waldenström’s macroglobulinemia, which is a rare form of non-Hodgkin’s lymphoma.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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