Shkreli Thinks Raptor Pharmaceutical's Valuation Was Too Low
Shares of Raptor Pharmaceutical Corp. (NASDAQ: RPTP) were trading higher by more than 20 percent Monday after the company agreed to be acquired by Horizon Pharma PLC (NASDAQ: HZNP) for $800 million, or $9 per share.
Speaking as a guest on Monday's Premarket Prep, Martin Shkreli shared his take on the deal and discussed the industry as a whole.
According to Shkreli, the premium that Horizon Pharma paid to acquire Raptor was "pretty modest" and he was expecting a price tag on any acquisition deal should have been "a lot more."
As a whole, Shkreli doesn't see any "over exuberant" valuations in the space.
Shares of Raptor Pharma traded recently at $64.61, up about 8 percent on the day.
Catch our full interview below.
PreMarket Prep is a daily trading ideas show that focuses on technical analysis and actionable short term trades. You can listen to the show live every morning from 8-9 ET here, or catch the podcast here.
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