Analysts Offer Insights on Healthcare Companies: Intrexon (NYSE: XON), Perrigo Company (NYSE: PRGO) and Glaukos (NYSE: GKOS)

By Jason Carr

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Intrexon (NYSE: XON), Perrigo Company (NYSE: PRGO) and Glaukos (NYSE: GKOS).

Intrexon (NYSE: XON)

In a report released yesterday, Tycho Peterson from J.P. Morgan reiterated a Hold rating on Intrexon (NYSE: XON), with a price target of $34. The company’s shares opened today at $29.26.

According to TipRanks.com, Peterson is a 5-star analyst with an average return of 12.8% and a 63.0% success rate. Peterson covers the Healthcare sector, focusing on stocks such as Dentsply International Inc., Albany Molecular Research, and Quintiles Transnational.

Intrexon has an analyst consensus of Moderate Buy, with a price target consensus of $34.

Perrigo Company (NYSE: PRGO)

J.P. Morgan analyst Chris Schott reiterated a Hold rating on Perrigo Company (NYSE: PRGO) yesterday and set a price target of $95. The company’s shares opened today at $89.19, close to its 52-week low of $79.72.

Schott commented:

“Following relatively in-line 3Q results, we wanted to share our latest thoughts on Perrigo. Overall, our thesis remains unchanged – we continue to see value in Perrigo’s Consumer and Rx platforms, but until there is greater clarity on the longer-term growth profile and timing of a recovery, we expect shares to remain range bound. Further, while Perrigo continues to asses strategic alternatives for Tysabri and Rx, we believe the potential earnings dilution from a Tysabri sale as well as the recent multiple compression in the space could limit upside from strategic actions.”

According to TipRanks.com, Schott is a 1-star analyst with an average return of -2.3% and a 41.5% success rate. Schott covers the Healthcare sector, focusing on stocks such as Coherus Biosciences, Endo International, and Impax Laboratories.

Currently, the analyst consensus on Perrigo Company is Moderate Buy and the average price target is $110, representing a 23.3% upside.

In a report released yesterday, Wells Fargo also reiterated a Hold rating on the stock.
Glaukos (NYSE: GKOS)

In a report released today, Michael Weinstein from J.P. Morgan reiterated a Buy rating on Glaukos (NYSE: GKOS), with a price target of $42. The company’s shares opened today at $34.31.

Weinstein observed:

“Glaukos delivered another big beat and raise after the close on Thursday with 3Q sales of $29.6M (+56%) coming in 7.6% ($2.1M) ahead of Street expectations. Sales outperformance was driven by continued strong execution in the US (+49%), reflecting continued penetration in high volume cataract accounts, strong same store sales growth, and higher unit volumes. Down the P&L, EPS of $0.03 beat Street expectations by $0.03, reflecting (1) the top-line beat and (2) higher GMs (+320bps). On the back of the strong quarter, Glaukos raised 2016 sales guidance by $4M from $105-107M to $109-111M, implying YoY growth of 52-55% vs. 46-49% prior and 26-30% at the start of the year. For the fourth quarter, full year 2016 guidance implies sales of $27.8-29.8M (+37-47%), which continues to looks conservative, setting the stage for potentially one more beat to exit 2016.”

According to TipRanks.com, Weinstein is a 4-star analyst with an average return of 3.5% and a 55.8% success rate. Weinstein covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp., Zimmer Biomet Holdings, and Baxter International.

Currently, the analyst consensus on Glaukos is Strong Buy and the average price target is $42.50, representing a 23.9% upside.

In a report issued on October 27, Wells Fargo also initiated coverage with a Buy rating on the stock.