Leerink Partners Remains Bullish as Alere (ALR) Withdraws INRatio and INRatio 2 Products

Leerink Partners reiterated an Outperform rating and $56.00 price target on Alere (NYSE: ALR) following the company's announcement that they will withdraw its INRatio and INRatio 2 products. ALR only recorded $20M in product sales from its INRatio products in 2015, or <1% of company revenue. Thus, the direct revenue impact from ALR's announced product withdrawal is minimal.

Analyst Dan Leonard commented, "We don't consider ALR's announced withdrawal of its INRatio and INRatio 2 products a material adverse event that would jeopardize consummation of its acquisition by ABT (MP). We continue to believe odds that ALR is acquired by ABT are higher than that reflected in the current stock price, and maintain our outperform rating."

For an analyst ratings summary and ratings history on Alere click here. For more ratings news on Alere click here.

Shares of Alere closed at $39.95 yesterday.

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