Healthcare
Purchases Spectrum Pharmaceuticals in an all-stock transaction that adds ROLVEDON to its product portfolio - despite the negative market reaction to the news, Hamed Khorsand is constructive on the deal as it diversifies ASRT's product portfolio and creates a larger organisation that can benefit from further M&A. The acquisition is expected to be accretive to ASRT's earnings and FCF in 2024. Hamed believes this is achievable based on ROLVEDON achieving sales materially higher than the current street consensus. The stock is up c.70% since he turned bullish in May 2022, but still offers 60% upside to his 12-month TP of $8.00.
Edition: 159
- 28 April, 2023