Analysts Offer Insights on Healthcare Companies: Jounce Therapeutics Inc (NASDAQ: JNCE), Blueprint Medicines (NASDAQ: BPMC) and MiMedx Group (NASDAQ: MDXG)

By Ryan Adsit

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Jounce Therapeutics Inc (NASDAQ: JNCE), Blueprint Medicines (NASDAQ: BPMC) and MiMedx Group (NASDAQ: MDXG) with bullish sentiments.

Jounce Therapeutics Inc (NASDAQ: JNCE)

J.P. Morgan analyst Cory Kasimov assigned a Buy rating to Jounce Therapeutics Inc (NASDAQ: JNCE) yesterday and set a price target of $28. The company’s shares closed yesterday at $14.81.

Kasimov wrote:

“Though JNCE’s 3Q earnings call this morning was largely uneventful, we had a chance to catch up with management afterwards for some color around plans for the dissemination of initial JTX-2011 efficacy data. Recall that the Phase 1/2 ICONIC trial is expected to produce preliminary efficacy data in 1H18 (monotherapy began dosing in April and combo therapy began dosing in July). Per management, it is unlikely that we will see actual data until a full presentation at ASCO, though we may receive some guidance in regards to tumor types and enrollment in advance of that. The bottom line is that we see JNCE as an intriguing emerging player in immuno- oncology given the promising mechanism of action and preclinical data generated by its lead asset and a management team with considerable experience in the space. Maintain OW.”

According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 1.7% and a 38.6% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Ionis Pharmaceuticals Inc, and Global Blood Therapeutics.

Currently, the analyst consensus on Jounce Therapeutics Inc is Strong Buy and the average price target is $29, representing a 95.8% upside.

In a report issued on November 7, Robert W. Baird also reiterated a Buy rating on the stock with a $30 price target.
Blueprint Medicines (NASDAQ: BPMC)

BTIG analyst Dane Leone reiterated a Buy rating on Blueprint Medicines (NASDAQ: BPMC) yesterday and set a price target of $90. The company’s shares closed yesterday at $69.05, close to its 52-week high of $74.42.

According to TipRanks.com, Leone is a 5-star analyst with an average return of 15.5% and a 68.4% success rate. Leone covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Vertex Pharmaceuticals, and Trillium Therapeutics.

Currently, the analyst consensus on Blueprint Medicines is Strong Buy and the average price target is $77, representing an 11.5% upside.

In a report issued on November 1, Canaccord Genuity also reiterated a Buy rating on the stock with a $80 price target.
MiMedx Group (NASDAQ: MDXG)

Needham analyst Michael Matson reiterated a Buy rating on MiMedx Group (NASDAQ: MDXG) today and set a price target of $21. The company’s shares closed yesterday at $12.12.

Matson observed:

“We hosted MDXG’s CFO (Mike Senken), CCO (Chris Cashman), and SVP Strategic Initiatives (Mark Landy) for investor meetings on the West Coast and Denver last week. We were encouraged that investor questions mostly focused on fundamentals; while there were also some questions on the short reports, we think management did a good job in addressing these. Overall, the meetings reinforced our view that fundamentals remain very strong at MDXG and that consensus estimates remain conservative. While we expect the short report controversy to continue to weigh on MDXG shares in the near-term, we think shares are significantly undervalued and expect a significant re-rating when the concerns ease. While we can’t predict when or how this will happen, we think the move could be sudden and easily missed and we reiterate our Strong Buy rating.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 8.0% and a 54.5% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

MiMedx Group has an analyst consensus of Moderate Buy, with a price target consensus of $19.50.

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