5 Pharma Analyst Targets and the Most Bullish Case for Each
“In the first quarter of 2022, we made good progress on our strategic objectives for the year,” Dr. Venkatesan said.
Analyst targets for AbbVie (NYSE: ABBV), Angion Biomedica Corp. (NASDAQ: ANGN), CorMedix Inc. (NASDAQ: CRMD), Moderna, Inc. (NASDAQ: MRNA) and Pfizer (NYSE: PFE); the higher the case the more bullish for each.
Denver, Colorado. – June 13, 2022 – Among AbbVie’s (NYSE: ABBV) analyst ratings for May 26, AbbVie received 5 Strong Buys, 14 Buys, 7 Expectations and no Underperforming or Selling ratings, for a 3.9 out of 5 star rating. (based on average ratings of 5 stars for a strong buy rating, 4 stars for a buy rating, 3 stars for a hold rating, 2 stars for an underperform rating, and 1 star for a of sale).
AbbVie closed Friday at $143.20 and has an analyst midpoint price target of $163.01, with a price target high of $200.00 and a low of $135.00.
AbbVie’s catalysts are numerous enough that Evaluate Pharma’s Expanded Consensus Forecast predicts it will hit $65.7 billion in prescription sales and become the largest pharmaceutical company by 2028.
“While Abbvie will not benefit from more than $20 billion in sales per year from Humira after 2023, quite a long demand is expected for the anti-TNF drug for rheumatoid arthritis. Those sales, along with growing contributions from Jak’s inhibitor Rinvoq, psoriasis product Skyrizi and cancer drug Venclexta, are enough to create a very narrow lead over second-place rival Roche.
“These figures are of course based on estimates made by sellside analysts and collated by Evaluate Pharma. In the case of Abbvie, whether this forecast advantage will continue will depend on the company’s success in deploying Rinvoq and Skyrizi in new indications.
More information: https://www.evaluate.com/vantage/articles/insights/other-data/abbvie-become-biggest-pharmas-2028
Angion Biomedica Corp. (NASDAQ: ANGN) closed Friday at $1.74. Its two Strong Buy ratings and two Buy ratings average 4.5 out of 5; the highest of the five companies mentioned here.
Angion Biomedica closed Friday at $1.74 and based on the current price vs. high price target method, the high price target of $28.00 represents the potential upside percentage the highest of all the companies mentioned here. Its average price target is $13.67, with $5.00 being the lowest. The most recent cover is HC Wainwright & Co., which maintains its Buy rating.
Dr. Jay Venkatesan, CEO and President of Angion Biomedica, recently purchased $101,000 worth of stock in his company, adding nearly 6% to his position and bringing his total to more than 1.7 million shares. Angion is focused on the discovery, development and commercialization of novel small molecule therapies to treat fibrotic diseases and highlights from its recent Q1 2022 report include that it had $73 million in cash and cash equivalents cash, as of March 31, 2022, which it expects to be sufficient to fund planned operations through 2023. Based on Friday’s close, Angion’s market capitalization is $52.128 million.
“In the first quarter of 2022, we made good progress on our strategic objectives for the year,” said Dr Venkatesan. Angion’s stated strategic goals for 2022 are to develop ANG-3070 for the treatment of patients with primary proteinuric kidney disease (PPKD), including focal segmental glomerular sclerosis (FSGS) and IgA nephropathy (IgAN), which are in Angion’s JUNIPER Phase 2 trial; to develop ANG-3070 for the treatment of patients with idiopathic pulmonary fibrosis (IPF), with expected IND filing in IPF by the end of 2022; and designate a lead compound and initiate IND-enabling studies for one or more of the preclinical rho kinase 2 (ROCK2) or CYP11B2 (aldosterone synthase) inhibitor programs.
All three analysts who cover CorMedix Inc. (NASDAQ: CRMD) agree this is a buy. Of the companies mentioned here, CorMedix has the highest upside, using the percentage difference between the current price of $2.94 and the analyst average price target method of $22.00. The low price target is $19.00 and the high is $27.00.
Its three buy ratings score 4 out of 5.
CorMedix reported FDA acceptance of a new drug application for DefenCath on March 28, 2022, so assuming the FDA meets the six-month review, late September could be very telling, especially given the market capitalization of $115.023 million.
Moderna, Inc. (NASDAQ: MRNA) has twenty analysts covering 3 strong buys, 7 buys, 9 holds and 1 underperformer. The average rating is 3.6 out of 5. The most recent analyst call was SVB Leerink who maintained their underperforming rating on June 7, 2022.
Moderna analysts are starting from a high price target of $506.00, which represents the largest potential dollar upside of any company mentioned here, from its closing price of $127.12. However, its low price target of $70.00 represents the only major loss of all the companies mentioned here.
A committee of FDA scientists will meet this week to vote on whether to recommend licensing a vaccine for use in children ages 6 months to 17 years. Moderna reported earnings per share of $34.02 for the last quarter and has a PE ratio of 3.74.
Pfizer (NYSE: PFE) analysts reported 4 strong buys, 9 buys and 13 holds, for an average of 3.65 out of 5 stars.
Based on Friday’s close of $49.97, it sits less than $1 above its lower target, while its high target of $75.00 represents a 50% gain from at this level.
Like their Moderna data they released on Friday, FDA administration staff reviewers said yesterday that Pfizer-BioNTech’s COVID-19 vaccines revealed no new safety issues related to the use of the vaccine in young children. Pfizer reported earnings per share of $4.36 for the last quarter and has a PE ratio of 11.45.
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