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Fly News Breaks for March 22, 2019
Mar 22, 2019 | 07:21 EDT
Cantor Fitzgerald analyst Brandon Folkes reiterates an Overweight rating on Opiant Pharmaceuticals with a $38 price target following the company's Q4 results. The company is developing treatments focused on multiple addictions, including a potential longer-lasting product for opioid overdose, Folkes tells investors in a research note. He continues to believe Opiant "remains significantly undervalued at current levels." The company's ability to successfully develop products targeting addiction and overdose has been validated by the approval of Narcan nasal spray in 2015. Further, investors are getting the pipeline for free at current share levels, says the analyst.