4 Hot Analyst Reads For Tuesday, July 3rd

A synopsis of recent analyst activity that could buoy these small cap biotech stocks in the trading market today

I am so clever that sometimes I don't understand a single word of what I am saying.” ― Oscar Wilde

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Here are four small cap stocks seeing notable analyst commentary just after we open up trading here on the second trading day of the third quarter.

Hologic (HOLX) is picking up positive analyst commentary this morning. Both Barclays ($50 price target) Needham ($43 price target) reissued their Buy ratings on this Maryland based medical device and imaging concern. Barclay notes that " The FDA yesterday afternoon published its June update on industry mammography trends, which included "solid" 3D placements of 121, Barclays analyst Jack Meehan tells investors in a research note. The analyst believes the data are encouraging for near-term results for Hologic in the Breast Health segment. It also helps to show the sustainability of the "tomo tail" with Hologic approaching 60% conversion of its installed base". I own a piece of this name via a Buy-Write order.

Eloxx Pharmaceuticals (ELOX) could be buoyed in trading today as Citigroup initiates this small cap as a Buy with a $31 price target. Late last week, Canaccord Genuity also initiated Eloxx as a new Buy with a $24 price target. Canaccord's highlighted " although the company only has one lead candidate in the clinic, its proprietary platform could address the estimated 10-11% of human genetic disease caused by nonsense mutations". Earlier that week, SunTrust Robinson also assigned a new Buy rating and $26 price target on ELOX.

Zafgen (ZFGN) continues to get positive analyst views after disclosing positive Phase 2 trial results (above) for its compound ZGN-1061 last week. The study was designed to demonstrate proof-of-concept efficacy and safety in patients with type 2 diabetes and establish a minimally effective dose. Piper Jaffray initiates this 'Tier 4' biotech concern with an Overweight rating and $18 price target before the market open today.

Finally, Jefferies initiatesViewRay (VRAY) as a new Buy with a $12 price target this morning. Jefferies analyst believes "the company is best positioned to capture early MR-linac adoption given its first mover advantage and growing body of clinical evidence and thinks ViewRay's MRIdian has competitive advantages over Elekta's MR-linac system".

And those are four small cap concerns seeing recent analyst activity here this Tuesday. Happy Hunting.

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