Analysts Offer Insights on Healthcare Companies: Syros Pharmaceuticals (NASDAQ: SYRS), Melinta Therapeutics Inc (NASDAQ: MLNT) and Vericel Corp (NASDAQ: VCEL)

By Carrie Williams

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Syros Pharmaceuticals (NASDAQ:SYRS), Melinta Therapeutics Inc (NASDAQ:MLNT) and Vericel Corp (NASDAQ:VCEL) with bullish sentiments.

Syros Pharmaceuticals (SYRS)

Oppenheimer analyst Leah R. Cann maintained a Buy rating on Syros Pharmaceuticals today and set a price target of $26. The company’s shares opened today at $10.04.

Cann wrote:

“Loss per share was $0.43 compared to our estimated loss of $0.49. This was the result of lower than estimated operating expenses. SG&A of $4.6 million was 16.2% lower than our estimated $4.6 million; and R&D of $11.1 million was 4.4% lower than our estimated $11.6 million. In addition, shares outstanding were 3.6% higher than our estimate. Our revenue outlook for 2018-22 remains unchanged. We are reducing our estimated operating expense by 3.5% in 2018 and 6.9% in 2019, driven by reductions in estimated SG&A. Our outlook for operating expenses for 2020-22 remains unchanged.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 20.2% and a 55.6% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.

Currently, the analyst consensus on Syros Pharmaceuticals is a Moderate Buy with an average price target of $18.

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Melinta Therapeutics Inc (MLNT)

In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Melinta Therapeutics Inc, with a price target of $15. The company’s shares opened today at $5.05, close to its 52-week low of $4.75.

Chen commented:

“. After a solid quarter of execution in 2Q18, we reiterate our OW rating and 12-month price target of $15 for MLNT shares. Shares are weak because the company missed FactSet sales forecasts and there is concern that MLNT would do another equity raise if it found an asset it would like to acquire. None of these changes our positive investment thesis on the stock. We continue to believe that upward earnings revisions and multiple expansion will drive the shares higher, in our view.”

According to TipRanks.com, Chen is ranked 0 out of 5 stars with an average return of -5.4% and a 43.4% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aclaris Therapeutics Inc, and Paratek Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Melinta Therapeutics Inc with a $12.67 average price target.

Vericel Corp (VCEL)

In a report released today, Chad Messer from Needham reiterated a Buy rating on Vericel Corp, with a price target of $14. The company’s shares opened today at $11.95.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 12.1% and a 46.2% success rate. Messer covers the Healthcare sector, focusing on stocks such as Aerpio Pharmaceuticals Inc, Tracon Pharmaceutical, and Sarepta Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vericel Corp with a $15 average price target, a 25.5% upside from current levels. In a report released yesterday, BTIG also maintained a Buy rating on the stock with a $17 price target.

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