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EBS

Emergent BioSolutions

$60.50

-1.06 (-1.72%)

10:02
08/29/18
08/29
10:02
08/29/18
10:02

Emergent deal for Adapt Pharma a 'bold' move with some risks, says Wells Fargo

Wells Fargo analyst David Maris said Emergent BioSolutions' agreement to acquire Adapt Pharma, the maker of Narcan nasal spray to treat opioid overdose, for about $735M is a "bold" move that some investors will like given the accretion and sales growth. However, some may see this as moving too far afield from its core business in biodefense and the deal may introduce overhang concerns about the duration of Narcan, added Maris. He raised his price target on Emergent shares to $65 from $61 and keeps a Market Perform rating on the stock.

  • 29

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  • 01

    Oct

EBS Emergent BioSolutions
$60.50

-1.06 (-1.72%)

06/13/18
06/13/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Liberty Global (LBTYA) initiated with a Sell at Berenberg. 2. Emergent BioSolutions (EBS) initiated with a Buy at Argus. 3. Nine Energy Services (NINE) initiated with a Strong Buy at Raymond James. 4. Can-Fite BioPharma (CANF) assumed with a Buy at H.C. Wainwright. 5. Control4 (CTRL) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/10/18
WELS
08/10/18
NO CHANGE
Target $61
WELS
Market Perform
Emergent BioSolutions acquisition of PaxVax an 'excellent fit,' says Wells Fargo
After Emergent BioSolutions agreed to acquire PaxVax for $270M, Wells Fargo analyst David Maris said the transaction "sounds as though it is an excellent fit" and he is adding $70M in revenues for 2019 and assuming growth of 10% per year, though he thinks that could be conservative given the possible sales synergies. He also raised his price target on Emergent BioSolutions shares to $61 from $56, though he keeps a Market Perform rating on the shares.
08/29/18
CANT
08/29/18
NO CHANGE
Target $62
CANT
Overweight
Emergent acquisition should bridge guidance gap, says Cantor Fitzgerald
Cantor Fitzgerald analyst Brandon Folkes believes Emergent BioSolutions' acquisition of Adapt Pharma and its opioid overdose product, Narcan nasal spray, should help "bridge the Street's gap" from the current 2020 consensus revenue estimate of $830M to the company's guidance of $1B. The analyst keeps an Overweight rating on Emergent with a $62 price target.
08/29/18
CANT
08/29/18
NO CHANGE
Target $32
CANT
Overweight
Cantor sees value in Opiant after Emergent acquires Adapt Pharma
Cantor Fitzgerald analyst Brandon Folkes believes Emergent BioSolutions' (EBS) acquisition of Adapt Pharma underscores the potential for companies addressing the opioid overdose market. Opiant Pharmaceuticals (OPNT) is developing its own opioid overdose nasal spray, OPNT003, which could be of benefit in cases of synthetic opioid overdoses, such as with fentanyl, Folkes tells investors in a research note. He believes Opiant presents an attractive risk/reward at current share levels, "even if it captures only a portion of the growing market opioid overdose market." Folkes keeps an Overweight rating on the shares with a $32 price target.

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