Analysts Offer Insights on Healthcare Companies: Mateon Therapeutics Inc (NASDAQ: MATN) and GenMark (NASDAQ: GNMK)

By Jason Carr

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Mateon Therapeutics Inc (NASDAQ: MATN) and GenMark (NASDAQ: GNMK).

Mateon Therapeutics Inc (NASDAQ: MATN)

Maxim Group analyst Jason McCarthy reiterated a Hold rating on Mateon Therapeutics Inc (NASDAQ: MATN) today. The company’s shares opened today at $0.48.

McCarthy noted:

“Mateon announced that the P1b/2 trial (investigator-sponsored) evaluating the company’s lead combretastatin, CA4P, in combination with pazopanib (tyrosine kinase inhibitor, TKI) in recurrent ovarian cancer has been stopped (for now) as serious adverse events (SAEs) have emerged.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -12.5% and a 32.8% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ImmunoCellular Therapeutics, Soleno Therapeutics Inc, and Stellar Biotechnologies.

Mateon Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $2.

GenMark (NASDAQ: GNMK)

In a report released today, Michael Matson from Needham reiterated a Buy rating on GenMark (NASDAQ: GNMK), with a price target of $17. The company’s shares opened today at $13.02, close to its 52-week high of $13.67.

Matson commented:

“This morning, GNMK announced that it received 510(k) clearance for its ePlex instrument and Respiratory Pathogen Panel. The timing is consistent with guidance for a mid-year clearance. Management also guided to below consensus 2Q17 revenue ($12-13M vs. consensus of $13.8M) but maintained its 2017 revenue guidance ($65-70M). We have lowered our 2017E and 2018E estimates but still expect the US ePlex launch to drive a significant acceleration in GNMK’s revenue growth.”

According to TipRanks.com, Matson is a top 100 analyst with an average return of 13.8% and a 68.5% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

GenMark has an analyst consensus of Strong Buy, with a price target consensus of $17.

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