4 Canadian Healthcare Stocks with High Analyst Upside

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.

To read our full disclosure, please click on the button below: