The Canadian healthcare stocks on our list have an average analyst upside target return of 290%
SmallCapPower | January 29, 2018: The S&P/TSX Health Care index has slipped 9% over the past five days, underperforming the S&P/TSX Composite, which was down 1%. On average, analysts believe the four Canadian healthcare stocks we’ve identified today are currently significantly undervalued, representing a good buying opportunity should the sector recover.
Cardiome Pharma Corp. (TSX:COM) – $1.89
Pharmaceuticals
Cardiome Pharma is a Canada-based pharmaceuticals company with five products currently on the market, with one more expected to be launched in 2019. The Company’s products have uses in cardiology and infectious disease treatment.
- Market Cap: $65.6 Million
- Number of Analysts: 5
- Average Price Target: $6.75
- Analyst Upside: 257%
Oncolytics Biotech Inc. (TSX:ONC) – $0.83
Biotechnology & Medical Research
Oncolytics Biotech is a Canada-based medical research company aiming to develop REOLYSIN, a reovirus that aides in treating cancer. ONC is conducting studies on a variety of cancer types and chemotherapy combinations to study the effects of its product. REOLYSIN has been given a fast-track designation, and is undergoing Phase 3 studies.
- Market Cap: $116.8 Million
- Number of Analysts: 5
- Average Price Target: $1.86
- Analyst Upside: 124%
Neovasc Inc. (TSX:NVCN) – $0.70
Advanced Medical Equipment & Technology
Neovasc is a Canada-based medical equipment company. The Company’s Tiara product is a transcatheter that treats mitral regurgitation, a condition which affects 4M U.S. patients, of which 80% are untreated. Neovasc’s Reducer treats refractory angina, using standard catheter-based techniques.
- Market Cap: $70.9 Million
- Number of Analysts: 4
- Average Price Target: $4.35
- Analyst Upside: 521%
Profound Medical Corp. (TSXV:PRN) – $0.94
Advanced Medical Equipment & Technology
Profound Medical is a Canada-based medical technology company focusing on the treatment of prostate cancer. The Company’s TULSA-PRO equipment allows precision abrasion of prostate tumors with real-time MR imaging, allowing for incision-free surgery. PRN’s Sonalleve is a technology platform aimed at treating bone pain in 2-3 days, faster than the typical medical alternative of radiotherapy, which takes three weeks.
- Market Cap: $68.9 Million
- Number of Analysts: 4
- Average Price Target: $3.38
- Analyst Upside: 255%
Disclosure: Neither the author nor his/her family own shares in any of the companies mentioned above.
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