TAK - Takeda upgraded to outperform at Cowen on valuation cash flow

• Cowen has upgraded Takeda Pharmaceutical Company ( NYSE: TAK ) to outperform from market perform to outperform citing the Japanese pharma's current valuation, dividend yield, and cash flow.
• The firm upped its price target to $24 from $21 (~67% upside based on Monday's close).
• Analyst Ken Cacciatore said that even though he is disappointed with Takeda's ( TAK ) near-term pipeline, management has said an Entyvio (vedolizumab) biosimilar isn't expected until the end of the decade. The ulcerative colitis and Crohn's disease treatment had $3.9B in sales in 2021.
• For the remainder of the 2022 fiscal year, Cacciatore noted the company could see upside from phase 1 proof-of-concept results for TAK-861 in narcolepsy, Hyqvia phase 3 data in chronic inflammatory demyelinating polyradiculoneuropathy (CIDP), and fazirsiran/TAK-999, under development with Arrowhead Pharmaceuticals ( ARWR ), phase 2 results in liver disease.
• Read Seeking Alpha contributor Dylan Waller's analysis of Takeda ( TAK ) and why he thinks better days are ahead for it .

For further details see: