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…