Analyst Yi Chen of H.C. Wainwright reiterated a Buy rating on Bausch + Lomb Corporation (BLCO – Research Report), retaining the price target of $23.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Yi Chen has given his Buy rating due to a combination of factors influencing Bausch + Lomb Corporation’s future prospects. Despite facing challenges from foreign exchange headwinds that may negatively impact revenue and adjusted EBITDA for 2024 and 2025, the company remains focused on executing its strategies as a standalone entity after not securing a third-party buyer to take it private.
The company’s recent acquisition of Whitecap Biosciences enriches its pipeline with innovative therapies, including a promising treatment for glaucoma, WB007, which has completed Phase 2 trials. Additionally, Bausch + Lomb is developing next-generation lifitegrast for dry eye disease and OJL332 for ocular surface pain, which could maintain its competitive edge in these therapeutic areas. These strategic developments underpin Yi Chen’s positive outlook for the company’s growth potential and justify the Buy rating.
Chen covers the Healthcare sector, focusing on stocks such as Lexaria Bioscience, AngioDynamics, and Veru. According to TipRanks, Chen has an average return of -13.5% and a 33.20% success rate on recommended stocks.