"Rights" are something made up by governments to make you feel like you're buying something with your taxes.” ― Stefan Molyneux
Biotech was down for the second day in a row Tuesday opening this trading week. Better than expected Q1 results from the likes of Apple (AAPL) and CVS Health (CVS) have pre-market futures up decently as we await the opening bell this Wednesday.
Hopefully we can get back on track today. In the meantime, here are four biotech stocks being touted by analysts this Wednesday.
B Riley FBR maintains its Buy rating and $9 price target on Zynex (OTC:ZYXI) after that company reported quarterly results. Here is their view on the firm's first quarter.
Buy-rated Zynex, Inc. reported 1Q results that continued its impressive turnaround story as the company posted its 11th consecutive quarter of positive net income. New orders for the company’s NexWave electrotherapy pain management device were up 30% and revenues of $9.2M easily topped management’s $8.3M-$8.8M guide despite a seasonally weaker 1Q in which healthcare deductibles generally remain unmet. The opioid epidemic plaguing the US has kept demand strong and reimbursement rates high for ZYXI’s NexWave, which according to management has no discernible side effects. Management appears to be boring full steam ahead with expansion of its sales force in order to fill the void left by the two largest players exiting the market at the end of 2015/early 2016."
Jefferies adds Haemonetics (HAE) to its 'Franchise' list and has a Buy rating and $125 price target on the firm. Jefferies' analyst 'cites the recent pullback in the shares and his view that the company is still well positioned to see "substantial" earnings upside as the NexSys cycle plays out and believes a stock price of $150-plus is likely over time'
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After meeting with management, Ladenburg reiterates its Buy rating and $24.50 price target on Marinus (MRNS) with the following commentary.
We don’t believe consensus includes much, if any, potential revenues in RSE. Given the spotlight on RSE from this open-label trial, we encourage investors to consider the near-term catalyst as its impact on Marinus’ revenue/earnings potential is possibly greater than its current epilepsy programs. The RSE luncheon included MD, its CFO, Ed Smith, its MD/PhD, who discussed the clinical and therapeutic aspects of RSE, the rationale for developing ganaxolone in RSE and the design of the ongoing Phase 2. Marinus’ VP, Corporate & Thomas J. “TJ” Lyons, presented findings from ongoing market assessment analyses.”
Finally, after a recent presentation Oppenheimer maintains its Buy rating and $15 price target on Synlogic (SYBX). Here is their updated view on the company
2019 ASGCT meeting, Synlogic showcased recent progress with reformulating its synthetic biotics into dry, orally-available powders. New data focused on SYNB1618, the company’s lead product for phenylketonuria (PKU). We believe the availability of a shelf-stable, powdered formulation that can be packaged into capsules would substantially improve SYNB1618’s commercial viability. In non-clinical studies measuring phenylalanine turnover, powdered SYNB1618 performed similarly to the frozen liquid cell suspensions currently being utilized in the company’s ongoing Phase 1/2a trial. We believe Synlogic could transition to powdered formulations for future trials of both SYNB1618 and SYNB1020. Important clinical updates from both programs are expected in mid-2019 which could deliver clinical proof-of-concept."
And those are four small cap concerns garnering some analyst praise this morning.
Thank You & Happy Hunting,
Bret Jensen
Founder, The Biotech Forum, The Busted IPO Forum & The Insiders Forum
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