Analysts Offer Insights on Healthcare Companies: Co-Diagnostics Inc (NASDAQ: CODX), Novan Inc (NASDAQ: NOVN) and AC Immune SA (NASDAQ: ACIU)

By Ryan Adsit

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Co-Diagnostics Inc (CODXResearch Report), Novan Inc (NOVNResearch Report) and AC Immune SA (ACIUResearch Report) with bullish sentiments.

Co-Diagnostics Inc (CODX)

In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Co-Diagnostics Inc, with a price target of $2. The company’s shares closed yesterday at $1.09, close to its 52-week low of $0.69.

Chen wrote:

“Our 12-month price target is based on a comparable universe derived enterprise value-to-sales (EV/Sales) multiple of 5.7x and projected sales of $0.36 per share for the next 12 months.”

According to TipRanks.com, Chen ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -21.1% and a 35.4% success rate. Chen covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Stealth Biotherapeutics Corp, and Aerpio Pharmaceuticals Inc.

Currently, the analyst consensus on Co-Diagnostics Inc is a Moderate Buy with an average price target of $2.

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Novan Inc (NOVN)

H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Novan Inc today and set a price target of $6. The company’s shares closed yesterday at $2.87, close to its 52-week high of $3.24.

Livnat wrote:

“Our $6 12-month target is based on a probability of success (POS) weighted DCF. We assume SB206 (topical NO for molluscum; peak over $250M sales) and SB204 (topical NO for acne; peak over $150M sales) launch in late 2021 and 2022, respectively. We project the company commercializes both products itself. We do not include any other pipeline contribution yet, or any potential ex-US partnership revenue. We project Novan profitability in 2024.”

According to TipRanks.com, Livnat is a 4-star analyst with an average return of 11.6% and a 54.3% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Taiwan Liposome Company Ltd, Verrica Pharmaceuticals Inc, and Collegium Pharmaceutical.

Currently, the analyst consensus on Novan Inc is a Moderate Buy with an average price target of $6.

AC Immune SA (ACIU)

In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on AC Immune SA, with a price target of $8. The company’s shares closed yesterday at $5.29, close to its 52-week low of $3.25.

Fein commented:

“Our price target of $8/share is based on an equally weighted composite of (a) $9.32/ share, as a 35x multiple of taxed and diluted FY27 GAAP EPS of $1.14 discounted back to and (b) an NPV of $6.20/share (discount rate 11.0%, growth rate 2.5%). The assumptions are in-line with the expected PE multiple and discount rate of an early development-stage biotechnology company.”

According to TipRanks.com, Fein is a 3-star analyst with an average return of 0.6% and a 42.1% success rate. Fein covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.

Currently, the analyst consensus on AC Immune SA is a Moderate Buy with an average price target of $8.

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