Biotech Values

[DewDiligence]

Jbog et al: Sell-side analysts typically pick a target price out of thin air and then generate whatever assumptions about product approvals and cash flow are necessary to support their arbitrary target.

In this case, Leerink Swann’s most laughable assumption is the one that MNTA’s generic Copaxone will enjoy only three quarters as the sole FDA-approved generic. I guarantee that there will not be a second FDA-approved generic Copaxone from anyone during the next decade.