Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Benchmark upgraded Emergent BioSolutions Inc (NYSE:EBS) from Hold To Buy with a price target of $22 on the positive FDA and Narcan market news.
- Related: FDA Approves First OTC Naloxone Nasal Spray For Opioid Overdose.
- At current levels, EBS is valued at just 0.5x estimated 2023E revenues. The price target of $22 equates to 1.0x 2023E revenues.
- The analyst writes that Emergent expects to launch its OTC product in the summer of 2023, giving a lead of around six months, if not more, over competing OTC versions.
- Emergent also has the benefit of an existing sales channel.
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Competitive Landscape
- Rival firm Amphastar Pharma Inc's (NASDAQ:AMPH) naloxone hydrochloride nasal spray won FDA approval in early March, while another potential competitor – Amneal Pharmaceuticals Inc (NASDAQ:AMRX), awaits approval.
- Currently, Teva Pharmaceutical Industries Ltd (NYSE:TEVA) and Novartis AG's (NYSE:NVS) Sandoz market generics of the drug, with Emergent providing the manufactured product for Sandoz under a license agreement.
- Public awareness and acceptance of the OTC version have picked up steam.
- Price Action: EBS shares are up 14.49% at $12.09 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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