Analysts Offer Insights on Healthcare Companies: SELLAS Life Sciences Group Inc (NASDAQ: SLS) and Arena Pharma (NASDAQ: ARNA)

By Carrie Williams

There’s a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on SELLAS Life Sciences Group Inc (SLSResearch Report) and Arena Pharma (ARNAResearch Report) with bullish sentiments.

SELLAS Life Sciences Group Inc (SLS)

In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on SELLAS Life Sciences Group Inc, with a price target of $5. The company’s shares opened today at $1.82, close to its 52-week low of $0.80.

McCarthy noted:

“Sellas reported 3Q18 with a net loss of ($9.4M) and ended the period with $10M in cash, not including a $6.6M payment from the JGB settlement.”

According to TipRanks.com, McCarthy is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.8% and a 29.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as ContraVir Pharmaceuticals Inc, Sonoma Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.

Currently, the analyst consensus on SELLAS Life Sciences Group Inc is a Moderate Buy with an average price target of $9, a 394.5% upside from current levels. In a report issued on November 1, Oppenheimer also initiated coverage with a Buy rating on the stock with a $13 price target.

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Arena Pharma (ARNA)

In a report released today, William Tanner from Cantor Fitzgerald reiterated a Buy rating on Arena Pharma, with a price target of $65. The company’s shares opened today at $39.46.

Tanner commented:

“: We reiterate the OW rating and $65 PT but acknowledge that we will likely revisit our estimates and valuation assumptions in light of the ralinepag partnership announced today. We maintain our long-standing viewpoint, however, that ARNA is well positioned to develop small molecule compounds across a broad spectrum of therapeutic categories that embody meaningful improvements in their medical management. ARNA shares are trading +20% intraday.”

According to TipRanks.com, Tanner is a 1-star analyst with an average return of -1.4% and a 37.7% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Intra-Cellular Therapies, and Evofem Biosciences Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arena Pharma with a $65 average price target.

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