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Analysts’ Top Healthcare Picks: Biogen (BIIB), Cytokinetics (CYTK)

There’s a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Biogen (BIIBResearch Report), Cytokinetics (CYTKResearch Report) and Praxis Precision Medicines (PRAXResearch Report) with bullish sentiments.

Biogen (BIIB)

In a report released yesterday, Matthew Harrison from Morgan Stanley maintained a Buy rating on Biogen, with a price target of $345.00. The company’s shares closed last Thursday at $287.52.

According to TipRanks.com, Harrison is a 5-star analyst with an average return of 7.9% and a 53.5% success rate. Harrison covers the Healthcare sector, focusing on stocks such as Zentalis Pharmaceuticals, Centessa Pharmaceuticals, and BioMarin Pharmaceutical.

Biogen has an analyst consensus of Moderate Buy, with a price target consensus of $320.83, which is a 10.0% upside from current levels. In a report issued on January 19, Jefferies also maintained a Buy rating on the stock with a $350.00 price target.

See Insiders’ Hot Stocks on TipRanks >>

Cytokinetics (CYTK)

In a report released yesterday, Jeffrey Hung from Morgan Stanley maintained a Buy rating on Cytokinetics, with a price target of $60.00. The company’s shares closed last Thursday at $44.56.

According to TipRanks.com, Hung is a 5-star analyst with an average return of 22.2% and a 57.3% success rate. Hung covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Rhythm Pharmaceuticals, and Prelude Therapeutics.

Currently, the analyst consensus on Cytokinetics is a Strong Buy with an average price target of $63.67, representing a 47.2% upside. In a report issued on January 20, Mizuho Securities also maintained a Buy rating on the stock with a $80.00 price target.

Praxis Precision Medicines (PRAX)

In a report released today, Douglas Tsao from H.C. Wainwright reiterated a Buy rating on Praxis Precision Medicines, with a price target of $16.00. The company’s shares closed last Thursday at $4.79.

According to TipRanks.com, Tsao is a 5-star analyst with an average return of 15.8% and a 48.2% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Cerevel Therapeutics Holdings, Crinetics Pharmaceuticals, and Protagonist Therapeutics.

Currently, the analyst consensus on Praxis Precision Medicines is a Moderate Buy with an average price target of $17.00, implying a 246.9% upside from current levels. In a report issued on January 30, Piper Sandler also reiterated a Buy rating on the stock with a $18.00 price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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