Guggenheim Remains a Buy on Mylan Inc

By Jason Carr

In a report issued on June 12, Rohit Vanjani from Guggenheim maintained a Buy rating on Mylan Inc (NASDAQ: MYL), with a price target of $59. The company’s shares closed yesterday at $41.67.

Vanjani wrote:

“We spoke with two oncologists in different practice settings regarding their potential use of Fulphila. While biosimilar financial incentives will play a role in Fulphila’s adoption, the Onpro device appears entrenched in current clinical practice. For that and other reasons, we believe that it might be more prudent to take a conservative approach to Fulphila’s uptake at the outset. We maintain our BUY rating on shares of Mylan. Consultant Commentary: We spoke with two oncologists on their respective academic and rural private practice settings. The academic consultant saw roughly 100 Neulasta patients per month while the rural oncologist saw ~30 Neulasta patients per month.”

According to TipRanks.com, Vanjani is a 4-star analyst with an average return of 10.6% and a 50.7% success rate. Vanjani covers the Healthcare sector, focusing on stocks such as Sienna Biopharmaceuticals Inc, Menlo Therapeutics Inc, and Revance Therapeutics.

Currently, the analyst consensus on Mylan Inc is Moderate Buy and the average price target is $49.11, representing a 17.9% upside.

In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $50 price target.

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Mylan Inc’s market cap is currently $21.48B and has a P/E ratio of 31.10. The company has a Price to Book ratio of 1.63.

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Mylan NV is a pharmaceutical healthcare company. The firm engages in the development, license, manufacture, market and distribution of generic, branded generic and specialty pharmaceutical products. It operates through the following geographical segments: North America, Europe, Rest of World, and Corporate or Other.