Analysts Offer Insights on Healthcare Companies: MiMedx Group (NASDAQ: MDXG), Amarin (NASDAQ: AMRN) and Cytokinetics Inc (NASDAQ: CYTK)

By Ryan Adsit

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on MiMedx Group (NASDAQ: MDXG), Amarin (NASDAQ: AMRN) and Cytokinetics Inc (NASDAQ: CYTK) with bullish sentiments.

MiMedx Group (NASDAQ: MDXG)

In a report released today, Michael Matson from Needham initiated coverage with a Buy rating on MiMedx Group (NASDAQ: MDXG). The company’s shares closed yesterday at $14.39.

Matson noted:

“MDXG announced very positive results from its Phase 2B trial of AmnioFix Injectable in plantar fasciitis and has now initiated its Phase 3 trial in support of a BLA with patient enrollment expected to begin in the next 30-60 days. Since AmnioFix Injectable is currently commercially available as a 361 HCT/P product, we expect the Phase 2B results to drive increased sales of AmnioFix Injectable on an out- of-pocket basis even before a BLA is obtained. We estimate that MDXG could complete the plantar fasciitis BLA in 2020. MDXG estimates that the US plantar fasciitis potential annual market is $450M. We also think that the plantar fasciitis trial results bode well for MDXG’s other clinical programs including: knee pain, knee osteoarthritis, and achilles tendonitis. Even with the large move MDXG shares have had recently, we do not believe that its current valuation gives it much, if any, credit for its biopharmaceutical pipeline.”

According to TipRanks.com, Matson is a 5-star analyst with an average return of 13.0% and a 62.3% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

MiMedx Group has an analyst consensus of Moderate Buy, with a price target consensus of $18.

Amarin (NASDAQ: AMRN)

H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on Amarin (NASDAQ: AMRN) today and set a price target of $10. The company’s shares closed yesterday at $3.65.

According to TipRanks.com, Fein is a 4-star analyst with an average return of 5.9% and a 47.8% success rate. Fein covers the Healthcare sector, focusing on stocks such as Neptune Technologies & Bioresources Inc, DBV Technologies SA – American, and Proteostasis Therapeutics Inc.

Currently, the analyst consensus on Amarin is Strong Buy and the average price target is $9, representing a 146.6% upside.

In a report issued on August 1, Jefferies also reiterated a Buy rating on the stock with a $7 price target.
Cytokinetics Inc (NASDAQ: CYTK)

H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Cytokinetics Inc (NASDAQ: CYTK) today and set a price target of $26. The company’s shares closed yesterday at $15.

According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -20.0% and a 29.3% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Applied Genetic Technologies, and ImmunoCellular Therapeutics.

Cytokinetics Inc has an analyst consensus of Strong Buy, with a price target consensus of $22.

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