Analyst Ram Selvaraju of H.C. Wainwright reiterated a Buy rating on Emergent Biosolutions, retaining the price target of $15.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors that highlight Emergent BioSolutions’ strategic positioning and recent achievements. The company recently secured a significant contract modification worth $51.9 million with the U.S. Department of Health and Human Services for the supply of Vaccinia Immune Globulin Intravenous (VIGIV), which is crucial for smallpox preparedness. This contract is part of a larger 10-year agreement, showcasing Emergent’s role as a reliable provider of biodefense products to the U.S. government.
Additionally, Emergent has expanded its NARCANDirect distribution network to include KLOXXADO, an 8mg naloxone nasal spray, alongside the existing 4mg NARCAN spray. This expansion is timely, given the ongoing opioid crisis, and aims to enhance access to life-saving treatments. The strategic move to distribute both naloxone products through their network underscores Emergent’s commitment to addressing public health challenges, further supporting the Buy rating with a 12-month price target of $15.