Analysts Offer Insights on Healthcare Companies: Ra Medical Systems Inc (NYSE: RMED), Atara Biotherapeutics (NASDAQ: ATRA) and Allena Pharmaceuticals Inc (NASDAQ: ALNA)

By Austin Angelo

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Ra Medical Systems Inc (RMEDResearch Report), Atara Biotherapeutics (ATRAResearch Report) and Allena Pharmaceuticals Inc (ALNAResearch Report) with bullish sentiments.

Ra Medical Systems Inc (RMED)

In a report issued on May 14, Anthony Vendetti from Maxim Group maintained a Buy rating on Ra Medical Systems Inc, with a price target of $12. The company’s shares closed yesterday at $4.13, close to its 52-week low of $3.34.

Vendetti observed:

“Market close, RMED reported better-than-expected revenue, but negative gross margin due to manufacturing and production issues in the Vascular segment. GAAP loss per share was wider than anticipated primarily due to the negative gross margin and higher SG&A expenses.”

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 3.9% and a 48.2% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.

Ra Medical Systems Inc has an analyst consensus of Strong Buy, with a price target consensus of $11, implying a 166.3% upside from current levels. In a report issued on May 13, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $10 price target.

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Atara Biotherapeutics (ATRA)

In a report released yesterday, Salim Syed from Mizuho Securities maintained a Buy rating on Atara Biotherapeutics, with a price target of $62. The company’s shares closed yesterday at $24.85, close to its 52-week low of $23.58.

Syed commented:

“We spoke to ATRA this morning, and they noted that there is nothing in the safety data at all that seems directional. So again, we’re not too concerned here, but just something to keep an eye on. Safety data from 4 is expected at the EAN conference in June (Sunday, 12:30 – 1:15 p.m. CEST).”

According to TipRanks.com, Syed is a 1-star analyst with an average return of -3.9% and a 38.5% success rate. Syed covers the Healthcare sector, focusing on stocks such as Unity Biotechnology Inc, Wave Life Sciences, and Gilead Sciences.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Atara Biotherapeutics with a $66 average price target, representing a 165.6% upside. In a report issued on May 9, Cowen & Co. also maintained a Buy rating on the stock.

Allena Pharmaceuticals Inc (ALNA)

In a report released yesterday, Liana Moussatos from Wedbush reiterated a Buy rating on Allena Pharmaceuticals Inc, with a price target of $39. The company’s shares closed yesterday at $5.73, close to its 52-week low of $4.80.

According to TipRanks.com, Moussatos has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.1% and a 38.4% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Aquestive Therapeutics Inc, and Catabasis Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Allena Pharmaceuticals Inc with a $30.50 average price target, implying a 432.3% upside from current levels. In a report issued on May 9, Cowen & Co. also maintained a Buy rating on the stock.

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