EBS - Emergent BioSolutions: Positive NARCAN FDA Panel Divesting Travel Health Raising Rating To Buy
Summary
- Emergent BioSolutions has shown a remarkable turnaround since challenging Q3:22 results with a $380 million procurement contract and restructuring plan.
- Now, a definitive step toward a NARCAN over-the-counter approval.
- EBS has entered into an agreement to sell its Travel Health business for $270 million, with a potential to earn an extra $110 million.
- We are raising our price target to $36.00 from $26.00 and rating to Buy from Buy Long-Term.
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Emergent BioSolutions: Positive NARCAN FDA Panel, Divesting Travel Health, Raising Rating To Buy