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Fly News Breaks for April 7, 2016
RPTP
Apr 7, 2016 | 07:47 EDT
Oppenheimer analyst Christopher Marai says Raptor Pharmaceutical's shares were halted for volatility, following reports that the company is looking to hire an investment bank to evaluate a possible sale, which he views as a "good idea." Marai had previously stated that Raptor could be worth $7-$8 per share to an acquirer and had recommended management to sell. Despite the company not being currently profitable, profitability can be achieved through synergies and halted research and development spend. Marai continues to believe a sale is in the "best interest" of shareholders. The analyst has a Perform rating on the shares.
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