Analysts Are Bullish on Top Healthcare Stocks: Zogenix (ZGNX), Stryker Corporation (SYK)

By Ryan Adsit

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Zogenix (ZGNXResearch Report), Stryker Corporation (SYKResearch Report) and Global Blood Therapeutics (GBTResearch Report) with bullish sentiments.

Zogenix (ZGNX)

In a report issued on September 5, Difei Yang from Mizuho Securities reiterated a Buy rating on Zogenix, with a price target of $65. The company’s shares closed last Monday at $42.71.

According to TipRanks.com, Yang is a 3-star analyst with an average return of 2.4% and a 38.0% success rate. Yang covers the Healthcare sector, focusing on stocks such as Xeris Pharmaceuticals Inc, Alder Biopharmaceuticals, and Audentes Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Zogenix with a $64 average price target, implying a 47.2% upside from current levels. In a report issued on August 26, Northland Securities also assigned a Buy rating to the stock with a $60 price target.

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Stryker Corporation (SYK)

In a report issued on September 5, Ryan Zimmerman from BTIG maintained a Buy rating on Stryker Corporation, with a price target of $228. The company’s shares closed last Monday at $221.40, close to its 52-week high of $223.45.

Zimmerman noted:

“Stryker announced the acquisition of Mobius Imaging and its sister company, an all-cash transaction of $370M (with another $130M in milestones) for up to $500M. The transaction would have been just another SYK tuck-in but we believe the transaction has broader implications for SYK and its plans in spinal robotics. At a high-level we believe investors should view the transaction positively as SYK made another differentiated bet on robotics with the acquisition. Before discussing Carden, we note that Mobius was formed after its founders sold Medtronic (MDT, Buy, $120 Lavin) in 2007 for what is today, MDT’s O-Arm technology.”

According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 20.9% and a 60.2% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and OrthoPediatrics Corp.

Currently, the analyst consensus on Stryker Corporation is a Strong Buy with an average price target of $229.36, representing a 4.2% upside. In a report issued on September 4, Piper Jaffray also maintained a Buy rating on the stock.

Global Blood Therapeutics (GBT)

In a report issued on September 5, Cory Kasimov from J.P. Morgan maintained a Buy rating on Global Blood Therapeutics. The company’s shares closed last Monday at $50.32.

According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 1.5% and a 41.6% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Inc., BioMarin Pharmaceutical Inc., and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Global Blood Therapeutics is a Strong Buy with an average price target of $97.78, implying an 82.9% upside from current levels. In a report issued on September 5, William Blair also maintained a Buy rating on the stock.

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