Analysts Offer Insights on Healthcare Companies: ConforMIS (NASDAQ: CFMS), BeiGene Ltd (NASDAQ: BGNE) and Perrigo Company plc (NYSE: PRGO)

By Austin Angelo

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on ConforMIS (NASDAQ: CFMS), BeiGene Ltd (NASDAQ: BGNE) and Perrigo Company plc (NYSE: PRGO).

ConforMIS (NASDAQ: CFMS)

In a report released yesterday, Kyle Rose from Canaccord Genuity maintained a Hold rating on ConforMIS (NASDAQ: CFMS), with a price target of $4. The company’s shares opened today at $1.45, close to its 52-week low of $1.15.

Rose commented:

“We recently had the opportunity to host a fireside chat with ConforMIS management as well as visit the company’s booth at AAOS. Overall, we came away incrementally positive on the opportunities ahead of ConforMIS and continue to think commercial momentum through the H1/18 could represent an inflection point in the business. Specifically, we think the commercial changes implemented mid-2017, including new leadership, sales rep hiring, and the build-out of a corporate accounts team position the company with the opportunity for increased productivity into the H2/18. From our recent meetings with management, we highlight additional clinical data that bolsters the company’s implant technology and a strong product pipeline that should support market momentum over the next several years.”

According to TipRanks.com, Rose is a 4-star analyst with an average return of 10.4% and a 54.2% success rate. Rose covers the Healthcare sector, focusing on stocks such as ReShape Lifesciences Inc, Obalon Therapeutics Inc, and Zimmer Biomet Holdings.

ConforMIS has an analyst consensus of Strong Buy, with a price target consensus of $3.75.

BeiGene Ltd (NASDAQ: BGNE)

In a report released today, Eric Schmidt from Cowen & Co. maintained a Buy rating on BeiGene Ltd (NASDAQ: BGNE). The company’s shares opened today at $154.30, close to its 52-week high of $164.15.

According to TipRanks.com, Schmidt is a top 25 analyst with an average return of 45.0% and a 64.5% success rate. Schmidt covers the Healthcare sector, focusing on stocks such as Ionis Pharmaceuticals Inc, Merrimack Pharmaceuticals, and Adaptimmune Therapeutics.

Currently, the analyst consensus on BeiGene Ltd is Moderate Buy and the average price target is $149, representing a -3.4% downside.

In a report issued on March 1, Maxim Group also maintained a Buy rating on the stock with a $160 price target.
Perrigo Company plc (NYSE: PRGO)

Canaccord Genuity analyst Dewey Steadman maintained a Buy rating on Perrigo Company plc (NYSE: PRGO) yesterday and set a price target of $105. The company’s shares opened today at $86.14.

According to TipRanks.com, Steadman is ranked 0 out of 5 stars with an average return of -5.1% and a 39.0% success rate. Steadman covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, ANI Pharmaceuticals Inc, and Pacira Pharmaceuticals.

Currently, the analyst consensus on Perrigo Company plc is Moderate Buy and the average price target is $100.43, representing a 16.6% upside.

In a report issued on March 2, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $107 price target.

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