Guggenheim Reiterates Buy on Aralez Pharma (ARLZ) Following Yosprala Approval
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Guggenheim reiterated a Buy rating and $12.00 price target on Aralez Pharmaceuticals (NASDAQ: ARLZ) following the approval of Yosprala and the recent acquisition of Zontivity. Yosprala will complement ARLZ's Fibricor, which is another CV drug that ARLZ already markets, and Zontivity, which ARLZ recently acquired.
Analyst Louise Chen commented, "Today's approval of Yosprala and the recent acquisition of Zontivity underscore our positive investment thesis. We continue to believe that there is upside to consensus expectations and this could come from: 1) ARLZ's approved products; 2) The company's pipeline; as well as 3) Business develop, which ARLZ has publicly stated will be focused on CV and Pain. We believe Yosprala could reach sales of $200MM+ by '22. Additionally, we think ARLZ will be a successful consolidator of assets with its strong balance sheet, experienced management team, and low tax rate."
Shares of Aralez Pharmaceuticals closed at $5.46 yesterday.
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