HALISTER1: Shire’s Xiidra Approval Renews Focus on Growth, Cowen Says

Shire’s Xiidra Approval Renews Focus on Growth, Cowen Says

(Bloomberg) -- FDA approval of Xiidra (lifitegrast) should renew focus on Shire’s growth thesis, which is “very much intact,” Cowen (outperform) says in note.
  • Cowen sees potential sales of $1.5b-$3b and recommends adding “aggressively”
  • Notes Xiidra is indicated for both the signs and symptoms of dry eye, which is “nice differentiating advantage” to Allergan’s market-leading Restasis, which is indicated for increasing tear production and not specifically for the signs or symptoms of dry eye
DATA
  • Stock has risen 3.8% month-to-date vs a 1.2% rise in the Stoxx 600 Health Care index; is up 2.6% YTD vs a 4.1% fall in the SXDP index
  • Of 23 analyst ratings, 22 are buy, 1 hold, 0 sell, with an average PT of 5783.20p, implying ~20% upside
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
SHP LN (Shire PLC)

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