Oppenheimer Reiterates Outperform On Igi Laboratories On The Heels Of A New Deal With Valeant
In a research report today, Oppenheimer analyst Rohit Vanjani reiterated an Outperform rating on Igi Laboratories (NYSE:IG) with a $10 price target, following product acquisition deal with affiliates of Valeant Pharmaceuticals (NYSE:VRX). IGI will purchase two previously marketed ophthalmic products with the option to acquire three injectables as well.
Vanjani noted, “We view the deal as a positive, potentially adding full run-rate ophthalmic revenues in 2016. In just one week, management has significantly expanded its commercial focus and broadened the platform for sustainable growth.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Rohit Vanjani has a total average return of 35.4% and a 100.0% success rate. Vanjani is ranked #1001 out of 3314 analysts.