Analysts Conflicted on These Healthcare Names: Smith & Nephew Snats (NYSE: SNN), Depomed (NASDAQ: DEPO) and Aldeyra Therapeutics (NASDAQ: ALDX)

By Jason Carr

Analysts have been eager to weigh in on the Healthcare sector with new ratings on Smith & Nephew Snats (NYSE: SNN), Depomed (NASDAQ: DEPO) and Aldeyra Therapeutics (NASDAQ: ALDX).

Smith & Nephew Snats (NYSE: SNN)

Canaccord Genuity analyst Kyle Rose assigned a Buy rating to Smith & Nephew Snats (NYSE: SNN) today and set a price target of $42. The company’s shares opened today at $37.58.

Rose commented:

“We initiate coverage of Smith & Nephew with a BUY rating and a $42 target as we believe the broad product portfolio, spanning both orthopedics and wound care, provides a strong foundation from which the company can realize accelerating top-line growth. Further, with two major restructuring programs now complete we believe SNN is better positioned to focus on commercial execution and operating leverage.”

According to TipRanks.com, Rose is a 4-star analyst with an average return of 8.5% and a 53.5% success rate. Rose covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Zimmer Biomet Holdings, and Stryker Corporation.

Smith & Nephew Snats has an analyst consensus of Moderate Buy, with a price target consensus of $42.

Depomed (NASDAQ: DEPO)

Mizuho Securities analyst Irina Rivkind Koffler reiterated a Hold rating on Depomed (NASDAQ: DEPO) today. The company’s shares opened today at $5.40, close to its 52-week low of $5.28.

Rivkind Koffler observed:

“We have updated our model and are lowering PT to $6 from $11, while reiterating our Neutral rating. We await the pending outcome from the Purdue patent infringement trial in 1H:18 to potentially get more constructive. KeyPoints We are catching up since 2Q:17 earnings: We are updating our model for guidance lowered on the 2Q:17 call and then again for the Nucynta ER hurricane impact ($2-3M in 3Q:17 and <$10M in 4Q:17). The opioid market continues to steadily decline and we don't think management has been able to stabilize the business just yet. We expect commercial updates to be disappointing once again. The one upside we see to this story is the potential of an Oxycontin patent infringement payout that may become more visible in early 2018. However, we don't think a standalone Depomed with sufficient leverage to bring in new assets is the preferred outcome."

According to TipRanks.com, Koffler is a 5-star analyst with an average return of 14.0% and a 50.8% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Apricus Biosciences Inc, and Sucampo Pharmaceuticals.

Depomed has an analyst consensus of Hold, with a price target consensus of $10.33.

Aldeyra Therapeutics (NASDAQ: ALDX)

Canaccord Genuity analyst John Newman maintained a Buy rating on Aldeyra Therapeutics (NASDAQ: ALDX) yesterday and set a price target of $27. The company’s shares opened today at $7.55.

According to TipRanks.com, Newman is a 4-star analyst with an average return of 5.4% and a 44.0% success rate. Newman covers the Healthcare sector, focusing on stocks such as Advanced Accelerator Applications, Hutchison China MediTech Ltd, and Synergy Pharmaceuticals Inc.

Aldeyra Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $19.67.

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