Bull Notes for 3 Wall Street Rookies

Analysts set high price targets for TWST, AXNX, and ORTX

Nov 26, 2018 at 10:11 AM
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Today we're going to be looking at three bullish analyst notes out of the healthcare sector. More specifically, Twist Bioscience Corp (NASDAQ:TWST), Axonics Modulation Technologies Inc (NASDAQ:AXNX), and Orchard Therapeutics (NASDAQ:ORTX) all received upbeat attention from the brokerage community, so we'll check in on shares of TWST, AXNX, and ORTX below.

Let's begin with TWST stock. Cowen and Company initiated coverage on the synthetic DNA manufacturing specialist with an "outperform" designation, becoming the first brokerage firm to track the equity. Twist Bioscience shares began trading publicly on Oct. 31 at $13, rallying to as high as $29.21 on Nov. 16. Since then they've found support atop the newly formed 10-day moving average, and are up 8.9% today at $28.30.

Turning to AXNX stock, it also just had its initial public offering (IPO) late last month, and opened for trade at $16.05 on Oct. 31. Its technical performance hasn't been as impressive as TWST, as it's mostly traded sideways, closing Friday just below $15. Analysts are expecting a turnaround for the medical technology stock, though, with Morgan Stanley and Wells Fargo each issuing the equivalent of "buy" ratings this morning, on top of respective price targets of $21 and $22. Axonics Modulation Technologies was last seen down 1.8% at $14.65, however.

Finally, Orchard Therapeutics began trading publicly at $17 on Oct. 31. Following a brief pullback after its post-IPO pop, the stock reversed course to hit an all-time high of $19.24 on Nov. 19. Today, the shares are down 0.4% at $16.70, even after Cowen's new "outperform" rating and $27 price target -- almost 62% above current levels. Meanwhile, Wedbush also initiated coverage with an "outperform" rating and $25 price target.

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