Healthcare
This small-cap biodefense specialist has recently won a $380m procurement contract to supply RSDL (Reactive Skin Decontamination Lotion Kit) to the US DoD - while near-term challenges remain, including lower branded NARCAN sales in the US commercial retail market (as a result of the generic launch in late 2021) and continued weakness in contract manufacturing (CDMO) revenues, EBS enjoys an impressive pipeline and is strengthening its business model through corporate development and opportunistic acquisitions. TP $26 (100% upside) uses a 50/50 blend of the price targets obtained from Singular's DCF model and a multiple-based (P/E and EV/EBITDA) valuation.
Edition: 152
- 20 January, 2023