Chardan Reiterates Buy on Aralez Pharmaceuticals Inc (ARLZ) Following FDA Approval
In a research report released Friday, Chardan Capital analyst Keay Nakae reiterated a Buy rating on shares of Aralez Pharmaceuticals Inc (NASDAQ:ARLZ) with a price target of $10, following the news that the pharma company obtained FDA approval of YOSPRALA, its safe aspirin product. YOSPRALA is indicated for patients who require aspirin for secondary prevention of cardiovascular and cerebrovascular events and who are at risk of developing aspirin associated gastric ulcers.
Following the FDA approval, Aralez shares closed at $5.74, up $0.28 or 5.13%.
Nakae noted, “The company is now moving quickly to transform itself into a commercial specialty pharma enterprise. The key asset is its safe aspirin product, YOSPRALA, which we expect the company to launch in the U.S. in Q4 of this year. Hence, we believe that investors will need to be patient with this investment, as, absent a significant acquisition in the interim, the 2017 results will dictate whether their faith in a proven management team pays offs.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Keay Nakae has a yearly average return of -23% and a 29% success rate. Nakae has a 23% average return when recommending ARLZ, and is ranked #3987 out of 4158 analysts.
As of this writing, all the 3 analysts polled by TipRanks rate Aralez stock a Buy. With a return potential of 74%, the stock’s consensus target price stands at $10.