UPDATE - Auriga Initiates Coverage on Forest Laboratories (FRX); Lack of Near Term Catalysts Keep Us Sidelined
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Price: $41.50 -0.17%
Rating Summary:
10 Buy, 9 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
10 Buy, 9 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade FRX Now!
UPDATE - Auriga initiates coverage on Forest Laboratories (NYSE: FRX) with a Hold. PT $36.00.
Analyst, Louise Chen, said, "Although FRX has successfully moved the company forward despite generic competition for Lexapro, which started on a limited basis in March (with Mylan (NYSE: MYL) and Teva (Nasdaq: TEVA)), we remain on the sidelines for now given a lack of stock moving catalysts near term. We see more actionable investment opportunities for other companies in our coverage universe in 1H12, especially with FRX's delay on the potential approval of linaclotide (PDUFA moved from June to September). This is the next stock moving event for the company, in our view. As we look into C2013, we think that the successful launch of Namenda XR and positive Phase III data for the Bystolic/Valsartan combo could also move the stock higher."
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Analyst, Louise Chen, said, "Although FRX has successfully moved the company forward despite generic competition for Lexapro, which started on a limited basis in March (with Mylan (NYSE: MYL) and Teva (Nasdaq: TEVA)), we remain on the sidelines for now given a lack of stock moving catalysts near term. We see more actionable investment opportunities for other companies in our coverage universe in 1H12, especially with FRX's delay on the potential approval of linaclotide (PDUFA moved from June to September). This is the next stock moving event for the company, in our view. As we look into C2013, we think that the successful launch of Namenda XR and positive Phase III data for the Bystolic/Valsartan combo could also move the stock higher."
To see more ratings on FRX, Click Here
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