Monday, December 03, 2018 4:26:33 PM
VALUE IN OPIANT AFTER ADAPT DEAL: In a research note to investors, Cantor Fitzgerald's Folkes argued that Emergent BioSolutions' acquisition of Adapt Pharma underscores the value of the opioid overdose market. At a market cap of about $44M, the analyst pointed out he believes Opiant presents an attractive risk/reward, even if it captures only a portion of the growing market. Opiant is expected to generate about $30M-38M in cash from Narcan royalties and the milestone payment in 2019, to fund the development of its own opioid overdose nasal spray, OPNT003, and the other programs in the company's pipeline, he noted. Overall, Folkes said he expects investors to begin to appreciate the market potential of Opiant's pipeline, which should drive the stock higher. The analyst reiterated an Overweight rating and $32 price target on Opiant's shares.
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https://thefly.com/landingPageNews.php?id=2783481
https://thefly.com/landingPageNews.php?id=2783481&headline=OPNT;EBS-Opiant-jumps-as-analyst-sees-value-after-opioid-overdose-spray-maker-bought
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