Guggenheim Sees Zontivity and Toprol XL Bolstering Growth for Aralez Pharma (ARLZ); Affirms at 'Buy'
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Guggenheim affirms Aralez Pharmaceuticals (Nasdaq: ARLZ) at Buy with a price target of $12 following a recently-updated financial model.
Analyst Louise Chen sees Aralez being EBITDA positive by 2017. The analyst commented:
We updated our financial model to include sales for Zontivity and Toprol XL, two acquired drugs that will enhance ARZL's cardiovascular (CV) drug franchise, which currently includes Yosprala and Fibricor. We believe the Street still underestimates the earnings potential of ARLZ's CV franchise, and we believe Yosprala peak sales of $200MM+ by '22 are not fully reflected in consensus expectations yet. Additionally, we think ARLZ will be a successful consolidator of assets with its strong balance sheet, experienced management team, and low tax rate. We also modestly reduced our 3Q16 Vimovo royalty estimate, which decreased our 3Q16 EPS slightly.
FY17 revenue moves from $87.2 million up to $129.6 million and EPS was adjusted from ($0.70) out to ($0.80).
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