Fly News Breaks for January 8, 2020
AMRX, BLU, EBS, BHC, HZNP
Jan 8, 2020 | 08:36 EDT
Guggenheim analyst Dana Flanders believes selectivity "remains critical" in the Emerging Pharma space and sees therapeutics as best positioned into 2020 despite a strong year-end rally from generics. The analyst is bullish into Horizon Therapeutics' (HZNP) potential Q1 launch of teprotumumab and sees a "strong case" for continued multiple expansion at Bausch Health (BHC). Flanders also likes the risk/reward profiles for Emergent BioSolutions (EBS) and Bellus Health (BLU) ahead of legal and clinical catalysts. Across generics, Amneal Pharmaceuticals (AMRX) is the analyst's least preferred name due to valuation and skepticism on sustaining the company's medium-term growth above peers. Flanders calls Horizon his best idea and upped the stock's price target to $40 from $36. He also raised Bausch's target to $36 from $30 and Sell-rated Amneal's target to $3 from $2.
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