Analysts Very Positive on 3 Top Stocks Following Jefferies Healthcare Conference

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Hologic

This top medical devices and equipment stock has a fair amount of momentum lately but still sits way below highs printed last summer. Hologic Inc. (NASDAQ: HOLX) develops, manufactures and supplies diagnostics products, medical imaging systems and surgical products for women in the United States, Europe, the Asia-Pacific and elsewhere. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical and Skeletal Health.

The company posted solid second-quarter results. In addition, Hologic continues to make outstanding progress in its largest segment, which is Diagnostics. Within this segment’s molecular diagnostics business, the company witnessed enhanced growth for the domestic franchise as its fully automated Panther system continued to gain new placements and competitive wins.

The consensus price target for the stock is posted at $42.19. The shares closed most recently at $34.14.

Incyte

This company often is rumored to be in the sights of a larger biotech company. Incyte Corp. (NASDAQ: INCY) has a current validated approach in hematology-oncology, and there’s reason to believe the three wholly owned clinical-stage assets the company has could drive several billion in revenue, something important for an acquiring company looking to acquire assets. Many on Wall Street are bullish on the company’s rich pipeline of small molecule therapies in all stages of development, and they see the company as a key player in the cancer space.

Incyte focuses on the discovery, development and commercialization of proprietary therapeutics in oncology. It offers Jakafi for the treatment of myelofibrosis and polycythemia vera cancers. Its clinical stage products include ruxolitinib cream, which is in Phase 2 clinical trial for the treatment of alopecia areata; and INCB52793, which is in Phase 1/2 for the treatment of advanced malignancies. The company’s clinical stage products also comprise baricitinib, which is in Phase 3 trial for rheumatoid arthritis, as well as a completed Phase 2 trial for psoriasis and diabetic nephropathy.

The company last week announced new 28-week data from a Phase 3 study (RESPONSE-2) on Jakafi for the treatment polycythemia vera (PV). The multi-center, open-label, randomized study evaluated the safety and efficacy of Jakafi, in comparison to the best available therapy, in patients with PV who are resistant to or intolerant of hydroxyurea, dependent on phlebotomy for hematocrit control and do not have an enlarged spleen.

The consensus price target is posted at $90, and the stock closed most recently at $80.41 a share.

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These three very different stocks all could make sense for aggressive growth portfolios. The issues in the market will remain, so investors may want to nibble now and see if there isn’t a better opportunity going forward.