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Fly News Breaks for October 22, 2015
OCR, VRX, HZNP, ANAC
Oct 22, 2015 | 07:38 EDT
Jefferies analyst David Steinberg says Anacor's (ANAC) specialty pharmacy, RxCrossroads, is an independent third party under the Omnicare (OCR) umbrella that is managed by partner Sandoz. The pharmacy looks "soundly designed" and compliantly deployed," Steinberg tells investors in a research note. The stock should not be caught up in the specialty pharmacy controversy that has rocked shares of Horizon Pharma (HZNP) and Valeant (VRX), the analyst contends. Shares of Anacor are down 13% over the past two days but closed yesterday up $1.31 to $93.73. Steinberg has a Buy rating on the name with a $171 price target. He views the recent selloff as overdone.
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