Analysts Conflictied on These Healthcare Names: Coherus Biosciences (NASDAQ: CHRS), WellCare Health Plans (NYSE: WCG) and Blueprint Medicines (NASDAQ: BPMC)

By Jason Carr

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Coherus Biosciences (NASDAQ: CHRS), WellCare Health Plans (NYSE: WCG) and Blueprint Medicines (NASDAQ: BPMC).

Coherus Biosciences (NASDAQ: CHRS)

Maxim Group analyst Jason McCarthy reiterated a Buy rating on Coherus Biosciences (NASDAQ: CHRS) today and set a price target of $43. The company’s shares opened today at $26.25.

McCarthy noted:

“Coherus reported 3Q16 with revenue of $162.5M stemming from the recognition of collaboration and license revenues as a result of the termination agreement with Shire.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -15.6% and a 23.9% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Stellar Biotechnologies, and Inovio Pharmaceuticals.

Currently, the analyst consensus on Coherus Biosciences is Strong Buy and the average price target is $46, representing a 75.2% upside.

In a report issued on November 7, Citigroup also maintained a Buy rating on the stock with a $36 price target.
WellCare Health Plans (NYSE: WCG)

In a report released today, Joseph France from Cantor Fitzgerald reiterated a Hold rating on WellCare Health Plans (NYSE: WCG), with a price target of $115. The company’s shares opened today at $117.79.

France noted:

“Updated, higher estimates. WCG’s 3Q16 earnings were well ahead of expectations ($1.63 vs. our $1.07 and the $1.11 FactSet consensus), although management raised guidance by a smaller amount, reflecting a one-time 3Q16 payment in Florida (an estimated $0.11 of EPS) and $41.4 million of favorable prior year development. MLR’s have improved substantially, reflecting benefit redesign, better field operation (clinical management), rate hikes and an improved bidding process that has cut losses and boosted profitability. Higher guidance. WCG’s performance has been volatile in the past due to management turnover and poor underwriting, but the new team is now delivering good numbers.”

According to TipRanks.com, France is a 3-star analyst with an average return of 1.8% and a 42.9% success rate. France covers the Healthcare sector, focusing on stocks such as Envision Healthcare, Acadia Healthcare, and Molina Healthcare.

Currently, the analyst consensus on WellCare Health Plans is Hold and the average price target is $106.67, representing a -9.4% downside.

In a report released today, J.P. Morgan also downgraded the stock to Hold with a $115 price target.
Blueprint Medicines (NASDAQ: BPMC)

In a report released today, Eric Schmidt from Cowen & Co. reiterated a Buy rating on Blueprint Medicines (NASDAQ: BPMC). The company’s shares opened today at $31.65, close to its 52-week high of $34.47.

Schmidt said:

“Blueprint reported a Q3 net loss of $16.8MM and ended September with sufficient.”

According to TipRanks.com, Schmidt is a top 100 analyst with an average return of 21.4% and a 55.8% success rate. Schmidt covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals Inc, Merrimack Pharmaceuticals, and Threshold Pharmaceuticals.

Blueprint Medicines has an analyst consensus of Moderate Buy.