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 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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