Roth Capital Assigns Buy On Igi Laboratories Shares, Raises PT To $11
In a research report issued yesterday, Roth Capital analyst Scott Henry assigned a Buy rating on Igi Laboratories (NYSE:IG), and increased his price target to $11 (from $9), as the company recently acquired rights to 18 drug products from AstraZeneca (17 injectables and 1 suppository product; 17 of which were marketed in the past; all approved).
Henry noted, “We view this as a favorable product acquisition that should drive EPS accretion in 2016 and beyond. We are increasing our price target to $11/share from $9 to reflect this value creation.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Henry has a total average return of 14.2% and a 49.1% success rate. Henry has a 178.1% average return when recommending IG, and is ranked #308 out of 3310 analysts.