Analysts Offer Insights on Healthcare Companies: PTC Therapeutics (NASDAQ: PTCT), Obalon Therapeutics Inc (NASDAQ: OBLN) and Ultragenyx (NASDAQ: RARE)

By Carrie Williams

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on PTC Therapeutics (NASDAQ: PTCT), Obalon Therapeutics Inc (NASDAQ: OBLN) and Ultragenyx (NASDAQ: RARE).

PTC Therapeutics (NASDAQ: PTCT)

In a report released today, Simos Simeonidis from RBC Capital reiterated a Hold rating on PTC Therapeutics (NASDAQ: PTCT), with a price target of $13. The company’s shares opened today at $10.63.

According to TipRanks.com, Simeonidis is ranked 0 out of 5 stars with an average return of -27.5% and a 29.1% success rate. Simeonidis covers the Healthcare sector, focusing on stocks such as Alexion Pharmaceuticals, Poniard Pharmaceuticals, and Cascadian Therapeutics.

Currently, the analyst consensus on PTC Therapeutics is Moderate Buy and the average price target is $17.50, representing a 64.6% upside.

In a report issued on November 2, J.P. Morgan also reiterated a Hold rating on the stock with a $15 price target.
Obalon Therapeutics Inc (NASDAQ: OBLN)

In a report released today, Kyle Rose from Canaccord Genuity reiterated a Buy rating on Obalon Therapeutics Inc (NASDAQ: OBLN), with a price target of $17. The company’s shares opened today at $9.

Rose said:

“We maintain our BUY rating and $17 price target following Q3/16 results. In its first quarter as a public company, Obalon posted an uneventful Q3 result as the company builds out its commercial team to support the US launch in January 2017. Commercial team in place – Management noted it had completed all sales and marketing hiring in preparation of the Q1/17 US launch, including the expansion of the total commercial team from an expected 20 to “20-25.” We view the additional hires as immaterial in the near term, filling out support roles rather than quota-carrying reps, but nonetheless indicative of the proactive, market expansionary approach Obalon plans to utilize in the US market—most notably, a multi-level organization including sales reps, product specialists, and practice development reps. Additionally, management noted that its sales force is already being trained and expected to be active in accounts prior to US launch in the early Q1/17. Moreover, we are encouraged by management’s launch plan which will include a combination of bariatric, GI and aesthetic practices initially. Full SMART trial data presented at Obesity Week 2016 – Obalon’s 12-month data was presented last week at Obesity Week and showed that treatment patients maintained 89.5% of their total weight loss 6 months after removal. Further, crossover patients, at 12 months, achieved TWL% results similar to the initial treatment group (6.5%/6.8%, respectively). Lastly, metabolic improvements in terms of glucose and triglycerides were maintained over the 12 month period.”

According to TipRanks.com, Rose is a 1-star analyst with an average return of -4.4% and a 36.4% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Enteromedics Inc., and Zeltiq Aesthetics.

Currently, the analyst consensus on Obalon Therapeutics Inc is Strong Buy and the average price target is $19.67, representing an 118.6% upside.

In a report issued on October 31, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $18 price target.
Ultragenyx (NASDAQ: RARE)

Canaccord Genuity analyst Arlinda Lee reiterated a Buy rating on Ultragenyx (NASDAQ: RARE) today and set a price target of $103. The company’s shares opened today at $74.36.

According to TipRanks.com, Lee is ranked 0 out of 5 stars with an average return of -9.3% and a 42.9% success rate. Lee covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Inc., Actinium Pharmaceuticals, and Asterias Biotherapeutics.

Currently, the analyst consensus on Ultragenyx is Strong Buy and the average price target is $91.80, representing a 23.5% upside.

In a report issued on November 7, J.P. Morgan also maintained a Buy rating on the stock with a $106 price target.