Bloom Burton analyst David Martin PhD has maintained their bullish stance on KHTRF stock, giving a Buy rating yesterday.
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David Martin PhD has given his Buy rating due to a combination of factors surrounding Knight Therapeutics’ strategic acquisition of the Paladin business unit from Endo Inc. This acquisition involves a significant upfront payment and potential milestone payments, and it is anticipated to be immediately accretive upon closing. The deal is set to reunite Knight’s management team with Paladin, which was previously acquired by Endo in 2014, suggesting a strong familiarity and potential for seamless integration.
Furthermore, the acquisition will enhance Knight’s portfolio with Paladin’s Canadian assets, which currently generate substantial annual sales. This addition of 40 different products is expected to bolster Knight’s market presence and revenue streams, reinforcing the company’s growth prospects. These strategic moves underpin David Martin PhD’s positive outlook and Buy rating for Knight Therapeutics’ stock.
In another report released yesterday, Research Capital also upgraded the stock to a Buy with a C$7.50 price target.