Savvy Trades and Investments

[researcher59]

OGN -1.07 to 19.93, looks cheap based on adj EPS estimates of $4.41 for 2023. This was a spinoff of "established brands" (a euphemism for old past patent drugs in decline) from Merck in 2021 but they were saddled with lots of debt, some of which has variable interest rates based on LIBOR. The question is whether OGN's growth initiatives can offset the declining revenues of established brands and whether they can pay down debt before it has to be rolled over in 2028 at presumably higher interest rates ....

OGN is way down from its 52wk high of $32 and seems to have technical support at around $20 ..... I added it to my watchlist. Maybe it's making a bottom on this retest of the May lows ?