Analysts Offer Insights on Healthcare Companies: CymaBay Therapeutics (NASDAQ: CBAY), Novan (NASDAQ: NOVN) and Turning Point Therapeutics (NASDAQ: TPTX)

By Jason Carr

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on CymaBay Therapeutics (CBAYResearch Report), Novan (NOVNResearch Report) and Turning Point Therapeutics (TPTXResearch Report) with bullish sentiments.

CymaBay Therapeutics (CBAY)

In a report released today, Ed Arce from H.C. Wainwright upgraded CymaBay Therapeutics to Buy, with a price target of $9.00. The company’s shares closed last Friday at $3.86.

According to TipRanks.com, Arce is a 5-star analyst with an average return of 19.2% and a 45.5% success rate. Arce covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Madrigal Pharmaceuticals, and Aurinia Pharmaceuticals.

CymaBay Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $7.00, which is a 77.7% upside from current levels. In a report issued on May 11, Raymond James also upgraded the stock to Buy with a $7.00 price target.

See today’s analyst top recommended stocks >>

Novan (NOVN)

H.C. Wainwright analyst Oren Livnat reiterated a Buy rating on Novan today and set a price target of $1.50. The company’s shares closed last Friday at $0.40, close to its 52-week low of $0.22.

According to TipRanks.com, Livnat is a 4-star analyst with an average return of 3.3% and a 49.5% success rate. Livnat covers the Healthcare sector, focusing on stocks such as Collegium Pharmaceutical, Zynerba Pharmaceuticals, and Verrica Pharmaceuticals.

Novan has an analyst consensus of Moderate Buy, with a price target consensus of $1.50.

Turning Point Therapeutics (TPTX)

H.C. Wainwright analyst Robert Burns reiterated a Buy rating on Turning Point Therapeutics today and set a price target of $88.00. The company’s shares closed last Friday at $58.80.

According to TipRanks.com, Burns is a 5-star analyst with an average return of 27.8% and a 77.4% success rate. Burns covers the Healthcare sector, focusing on stocks such as Black Diamond Therapeutics, Springworks Therapeutics, and Neoleukin Therapeutics.

Turning Point Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $77.20, representing a 28.5% upside. In a report issued on May 13, Leerink Partners also maintained a Buy rating on the stock with a $67.00 price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.