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Fly News Breaks for July 6, 2015
MDCO, EGRX
Jul 6, 2015 | 06:41 EDT
Piper Jaffray analyst David Amsellem raised his price target for Eagle Pharmaceuticals to $94 after the U.S. Court of Appeals ruled that patents protecting The Medicines Company's (MDCO) Angiomax were invalid. Amsellem believes the opportunity for Eagle’s ready-to-use form of Angiomax will still be "substantial" since the product is differentiated compared to the drug and generic equivalents. The analyst expects Eagle to garner "significant volume share" despite the potential for several generics to enter the market following the court ruling. He keeps an Overweight rating on the stock.
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