2020: Some More Biopharmas with Huge Northside Potential

2020: Some More Biopharmas with Huge Northside Potential

$APTO, $CDMO, $ENDP, $IGMS, $ILMN

Here are some of the many biotech and pharma stocks that have been given big Northside targets for Y 2020 by Key sector analysts, as follows:

Aptose Biosciences Inc. (NASDAQ:APTO) was started with a new Buy rating and a 10 price target at Piper Jaffray on 9 January. This represented well over 80% in implied upside from the prior 5.32 closing price, but shares initially rose 8% to 7.75 after the call. The 52-wk trading range is 1.576 – 6.04, and the shares had been above the Aptose closed on a $74-M capital raise at 4.00/share via a stock sale in December.

Avid Bioservices Inc. (NASDAQ:CDMO) was reiterated as Buy with a 10 price target at Janney on 6 January. The latest price was 6.95, implying 44% upside if its analysis is correct. Janney is seeing an increased strategic value in Y 2020 as a pure-play monoclonal producer that is still a small-cap stock competing with larger companies at a time when the global capacity for biologics manufacturing remains constrained. The firm also sees an inflection point to faster growth and profitability coming in Y 2020.

Endo International PLC (NASDAQ:ENDP) was upgraded to Overweight from Neutral and its target price was raised to 7 from 5 at Piper Jaffray on 3 January. Endo recently traded at 4.60, implying more than 52% upside if the firm is correct. It is a $1-B market cap company that recently launched a generic version of Afinitor tablets in the United States via its Par Pharma unit. The company’s news release from December indicated that the name brand drug saw approximately $412-M in sales over the past Quarters.

IGM Biosciences Inc. (NASDAQ:IGMS), a $1-B market cap company that is into research and development of engineered therapeutic engineered Immunoglobulin M (IgM) antibodies, was reiterated as Overweight at Piper Jaffray on 6 January. What stood out here was that the 26 target price was raised to 53. That represents about 60% upside from the recent 32.42 share price. The 52-wk trading range is 16.10 – 57.42.

Illumina Inc. (NASDAQ:ILMN), which is the leader in gene sequencing and genomics, was started as Buy with a 385 target price in a new sector call at Citigroup. Shares recently traded at 322.15, for an implied upside of 17% if the Citigroup call is correct. This was 1 of the more Bullish targets in that sector call, and some of the peer companies were viewed as Hold/Neutral positions rather than with big Buy ratings and big implied upside. On 9 January, Piper Jaffray reiterated its Overweight rating and raised its target price to 370 from 340.

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