MYX – UBS rates the stock as Neutral

The company has indicated that gross revenue for the first four months of FY20 is down -16%. Key products in generics, liothyronine, and dofetilide, continue to lose share to competitors. Specialty revenue was broadly flat. Contract services revenue increased by 16%.

UBS notes the company is shifting its portfolio to more stable specialty products and away from US retail generics, expecting this to represent more than 60% of sales by FY24. The broker maintains a Neutral rating and reduces the target to $0.54 from $0.60.

Sector: Pharmaceuticals, Biotechnology & Life Sciences.

Target price is $0.54.Current Price is $0.49. Difference: $0.05 – (brackets indicate current price is over target). If MYX meets the UBS target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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