Analysts Are Bullish on These Healthcare Stocks: GBT, MYL

By Carrie Williams

There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Global Blood Therapeutics (NASDAQ: GBT) and Mylan Inc (NASDAQ: MYL) with bullish sentiments.

Global Blood Therapeutics (NASDAQ: GBT)

In a report released today, Liana Moussatos from Wedbush reiterated a Buy rating on Global Blood Therapeutics (NASDAQ: GBT), with a price target of $73. The company’s shares opened today at $54.10.

According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 9.5% and a 42.2% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Allena Pharmaceuticals Inc, and Catabasis Pharmaceuticals.

Currently, the analyst consensus on Global Blood Therapeutics is Strong Buy and the average price target is $74.43, representing a 37.6% upside.

In a report issued on February 27, Cantor Fitzgerald also maintained a Buy rating on the stock with a $72 price target.
Mylan Inc (NASDAQ: MYL)

In a report released today, Rohit Vanjani from Guggenheim maintained a Buy rating on Mylan Inc (NASDAQ: MYL), with a price target of $59. The company’s shares opened today at $42.02.

Vanjani said:

“We spoke to a manufacturing consultant regarding the observations, and he indicated that the issues could easily be corrected. In a best case, the Malaysian facility could potentially be cleared in a 3-6 month timeframe compared to a likely worst case ~9 month timeframe. Biocon noted that it has already submitted its Corrective and Preventive Action Plan to the FDA. Consultant Commentary: The FDA published the Form 483 (attached) received by Biocon’s Malaysian facility where MYL’s biosimilar insulin glargine is being produced. We spoke to a manufacturing consultant regarding the observations. While the consultant did indicate that the observations were concerning – problems with media fills and batch validation, particulates in the vials, failure to investigate deficiencies – he also noted that the problems could easily be corrected, likely in a 3-4 month timeframe.”

According to TipRanks.com, Vanjani is a 4-star analyst with an average return of 11.2% and a 52.0% success rate. Vanjani covers the Healthcare sector, focusing on stocks such as Sienna Biopharmaceuticals Inc, ANI Pharmaceuticals Inc, and Zynerba Pharmaceuticals.

Currently, the analyst consensus on Mylan Inc is Moderate Buy and the average price target is $50.23, representing a 19.5% upside.

In a report issued on March 1, UBS also reiterated a Buy rating on the stock with a $54 price target.

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