Finally Goldman Sachs Upgraded FRX , prior to this several others have , Cantor Fitzgerald Reaffirms Buy Rating $48.00.. Citigroup issued a buy rating .. Cowen upgraded to Outperform..so we can expect all the other sheep to follow. Carl Icahn still on board.
Upgrades? FRX business is down over 30% due to Lexapro patent expiration, and profits are down 90%. Future products not likely to make up for Lexapro any time soon. Obamacare will likely suppress all drug prices. So, what price for FRX making fifty cents per year? FRX will see $25 this year, seems to me. The upgrades are classic Walls Street manipulations. Sell now, as the FRX business does not support the current stock price. FRX might go closer to $10 over the next two years as the pipeline is unlikely to make up for Lexapro anytime soon IMHO.