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The Biotech Analyst Run Down For Thursday

Jul. 30, 2020 9:56 AM ETAMED, CNMD, HOLX, MMSI3 Comments
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Depend on the rabbit’s foot if you will, but remember it didn’t work for the rabbit.“ – R.E. Shay

The market largely recapture its losses from Tuesday's session in trading Wednesday.  The S&P 500 gained one and a quarter percent as the Federal Reserve met and continues to state they will do whatever is necessary to support the economy.  Today, we are giving back Wednesday's gains in the early going.  The economy shrunk by a third in the second quarter according to the first Q2 GDP report that came out this morning.  Continuing unemployment claims remain stubbornly high as states pause their reopening phases.

Latest Post From The Biotech Maven

As trading has commenced this Thursday, here are four biotech and healthcare stocks analyst firms like this morning.

We are seeing a lot of firms getting the post earnings 'thumbs up' from analysts today.

Hologic (HOLX) is a popular pick today after a big earnings beat after the bell yesterday.  BTIG ($84 price target), Citigroup ($85 price target), Wells Fargo ($80 price target), Needham ($78 price target) and Leerink Partners ($80 price target) have all reiterated Buy ratings on Hologic since quarterly numbers posted.

Data Point:

The closest known relative to SARS-CoV-2 is a virus sampled by Chinese researchers from six miners infected while working in a bat-infested cave in southern China in 2012. These miners developed symptoms we now associate with Covid-19. Half of them died. These viral samples were then taken to the Wuhan Institute of Virology—the only facility in China that’s a biosafety Level 4 laboratory, the highest possible safety designation. The Level 4 designation is reserved for facilities dealing with the most dangerous pathogens. Wuhan is more than 1,000 miles north of Yunnan province, where the cave is located.

Amedisys (AMED) seeing a similar amount of analyst shout outs since its quarterly report hit yesterday.  Five analyst firms have reissued Buy ratings since numbers came out within a tight price target range.  They are Jefferies ($250 price target), Oppenheimer ($250 price target), Deutsche Bank ($260 price target), Raymond James ($255 price target) and RBC Capital ($260 price target)

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The same also goes for Merit Medical Systems (MMSI) after its quarterly numbers yesterday.  Piper Sandler ($55 price target), Barrington ($54 price target), Canaccord Genuity ($51 price target) and Oppenheimer ($50 price target) maintain Buy ratings on Merit while Needham sticks with its Hold rating on MMSI

Factoid of the Day:

Instead of the global population reaching between 9.4 billion and 12.7 billion by 2100 (as estimated in the 2019 United Nations World Population Prospects report), the new study suggests it will peak at 9.7 billion in 2064 and then decrease to about 8.8 billion by 2100. If the U.N.’s Sustainable Development Goals for education and contraceptive use are met in full, the researchers estimate that population could be as low as 6.29 billion in 2100. That would be 33% lower than the lowest current U.N. projection, and around 1.5 billion fewer than the Earth’s population today.

Finally, CONNMEDD (CNMD) gets the nod from Stifel Nicolaus this morning.  The analyst firm reiterates its Buy rating and lifts its price target $18 a share to $100 after the medical device firm posted quarterly results after the bell yesterday.

And those are four healthcare names getting some love from analyst firms this Thursday morning.

I think we consider too much the good luck of the early bird and not enough the bad luck of the early worm. " -Franklin D. Roosevelt

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Live Chat on The Biotech Forum continues to be very active with new trade and the lucrative covered call ideas available thanks to the spike in market volatility in 2020 throughout the trading day. If you join the The Biotech Forum by clicking HERE you will get our latest 'option play of the week' came out Tuesday as well as access to our model portfolio, investment archives and a very active Live Chat area during the trading day.

Thank You & Happy Hunting,

Bret Jensen

Founder, The Biotech Forum, The Busted IPO Forum & The Insiders Forum

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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