J.P. Morgan Maintains Overweight on Forest Laboratories

J.P. Morgan is out with its report today on Forest Laboratories FRX, maintaining Overweight. In a note to clients, J.P. Morgan writes, "Following the approval of Daliresp and the acquisition of Viibryd earlier this year and ahead of FDA filings for linaclotide and aclidinium as several additional pipeline catalysts later this year, we see an increasingly favorable risk/reward profile for Forest shares. Our pre-marketing survey for Daliresp suggests that the product—despite relatively limited efficacy compared to existing agents—could be a meaningful add-on therapy for severe COPD patients. In addition, we see Viibryd contributing meaningfully to Forest's portfolio over time even with very conservative launch assumptions. Along these lines, we rate FRX shares Overweight." J.P. Morgan maintains a $41 PT on FRX. Shares of FRX closed Thursday at $37.86.