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Brookdale Senior Living (BKD) has an average rating of buy and mean price target of $19.10, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)
Healthcare stocks were higher late Tuesday afternoon, with the NYSE Healthcare Index rising 1.6% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 1.2%.The iShares Biotechnology ETF (IBB) added 1.2%.In corporate news, GSK (GSK) said it signed a definitive agreement Tuesday to acquire Nuvalent (NUVL) for $10.6 billion in cash. GSK shares rose 1%, and Nuvalent surged 39%.Brookdale Senior Living (BKD) has reported May occupancy data in line with bullish comments by the company's management at a recent event and ahead of levels implied in RBC's model for Q2, RBC Capital Markets said in a note. Brookdale shares jumped past 8%.PTC Therapeutics (PTCT) shares climbed 3.3% after Citigroup upgraded the company's stock to buy and raised its price target to $108.Eli Lilly (LLY) signed a collaboration and licensing deal worth over $1 billion with AlzeCure Pharma for global rights to its investigative candidate for Alzheimer's disease. Lilly shares were down 0.4%.
Brookdale Senior Living (BKD) has reported May occupancy data in line with bullish comments by the company's management at a recent event and ahead of levels implied in RBC's model for Q2, RBC Capital Markets said in a note Tuesday.The company's May occupancy figure of 82.5% compared with RBC's Q2 consolidated weighted-average occupancy estimate of 82.3%, RBC said. The note added that month-end occupancy rose to 83.5%, which is an "encouraging leading indicator for June."The investment firm said it increased its Q2 occupancy estimate to 82.5% from 82.3% due to the "better-than-expected occupancy seen to date this quarter."RBC said it is "optimistic" around the company's positioning as Brookdale is entering what is "historically its strongest occupancy growth period of the year from May to September."The investment firm added that there is indication of "demographic tailwinds and meaningful upside from operating leverage as occupancy continues to improve at underperforming facilities."RBC has an outperform rating on Brookdale and a $17 price target.Price: $12.51, Change: $+0.64, Percent Change: +5.39%