Analysts Are Bullish on Top Healthcare Stocks: Galmed Pharmaceuticals (GLMD), Alphatec Holdings (ATEC)

By Carrie Williams

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Galmed Pharmaceuticals (GLMDResearch Report), Alphatec Holdings (ATECResearch Report) and Agile Therapeutics (AGRXResearch Report) with bullish sentiments.

Galmed Pharmaceuticals (GLMD)

H.C. Wainwright analyst Ed Arce maintained a Buy rating on Galmed Pharmaceuticals today and set a price target of $28. The company’s shares closed yesterday at $4.89, close to its 52-week low of $4.50.

According to TipRanks.com, Arce is a 4-star analyst with an average return of 6.3% and a 35.1% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Arcturus Therapeutics Ltd, and Melinta Therapeutics Inc.

Currently, the analyst consensus on Galmed Pharmaceuticals is a Strong Buy with an average price target of $33.75, representing a 590.2% upside. In a report released today, B.Riley FBR also reiterated a Buy rating on the stock with a $28 price target.

See today’s analyst top recommended stocks >>

Alphatec Holdings (ATEC)

H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Alphatec Holdings today and set a price target of $6. The company’s shares closed yesterday at $5.18, close to its 52-week high of $5.46.

Ramakanth said:

“We maintain our Buy rating of ATEC and raise our 12-month price target to $6.00 per share, up from $4.00. We derive our price target based on: (1) an EV-to-sales multiple analysis assuming 10% discount rate and using a 3.0x multiple on projected 2027 sales of $455M; and (2) a discounted cash flow analysis using the projected free cash flow to the firm through 2027 and assuming a 10% discount rate and a 3% terminal growth rate. Using the average of the two methods, we arrive at a 12-month price target of $5.80 per share, which we round to $6.00.”

According to TipRanks.com, Ramakanth is ranked 0 out of 5 stars with an average return of -11.9% and a 27.7% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Gritstone Oncology Inc, IntelGenx Technologies, and Cellectar Biosciences.

Currently, the analyst consensus on Alphatec Holdings is a Moderate Buy with an average price target of $6.50, implying a 25.5% upside from current levels. In a report released yesterday, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $7 price target.

Agile Therapeutics (AGRX)

In a report released today, Oren Livnat from H.C. Wainwright reiterated a Buy rating on Agile Therapeutics, with a price target of $4. The company’s shares closed yesterday at $1.01.

Livnat wrote:

“We project cash to not only comfortably carry through the scheduled October 30 FDA Advisory Committee meeting and November 16 PDUFA date for Twirla—Agile’s weekly transdermal low-dose combination hormonal contraceptive (CHC) patch—but now also to potentially fund initial manufacturing activities, assuming approval. We were excited to learn in late-June that the FDA had scheduled an AdCom, as we’ve long welcomed one and always believed physicians would favorably receive Twirla and recommend approval. We also interpret the timing of the Adcom positively—so close to the PDUFA, the FDA may already have draft labeling ready, and right after the FDA’s solicited comments on new draft guidance on hormonal contraceptive trial design.”

According to TipRanks.com, Livnat is a 4-star analyst with an average return of 4.5% and a 48.5% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Verrica Pharmaceuticals Inc, Taiwan Liposome Company Ltd, and Collegium Pharmaceutical.

Agile Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $3.50, a 246.5% upside from current levels. In a report issued on August 1, Maxim Group also maintained a Buy rating on the stock with a $3 price target.

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