Organon & Co OGN, which has recently spun-off from Merck & Co., Inc. MRK, has “inherited a global business across three segments,” namely Women’s Health, Legacy and Biosimilars brands, according to BofA Securities.
The Organon Analyst: Jason Gerberry initiated coverage of Organon with a Buy rating and a price target of $43.
The Organon Thesis: The company has a strong management team, with experience in working in the Big Pharma segment, Gerberry said in the initiation note.
The analyst mentioned three key reasons for recommending Organon:
- “We believe Nexplanon’s elective procedure-driven business is positioned for rebound as COVID-19 dissipates aided by numerous drivers including LARC expansion,” he wrote.
- The current valuation of the stock represents “an attractive entry point for shares to re-rate on validation of mgmt’s growth outlook,” Gerberry noted.
- Few competitors in women’s health offers “an opportunity for OGN to aggregate pipeline assets and drive operating leverage,” he added.
OGN Price Action: Shares of Organon had risen by 3.28% to $34.99 at the time of publication Wednesday.
Photo: Myriam Zilles via Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.