UBS: Baxalta Is A Buy Even If Shire Buyout Doesn't Happen
In a note to subscribers, analyst Matt Miksic explained their Buy rating on Baxalta is not contingent on a deal.
The analyst also highlighted recent positive performance. "Since declining to engage Shire on its initial offer in August, the company has beat Q3 estimates, raised guidance for 2015, guided to an above-consensus outlook for 2016 and obtained two key new pipeline approvals (Adynovate and Vonvendi.)" Miksic said its 100-patient UBS Evidence Lab US Haemophilia survey provided the "best feedback we've ever seen" on haemophilia A patients. UBS holds a Buy rating on Baxalta.