Reported operating earnings (EBITDA) were below Macquarie’s estimates. Generics revenue fell by -33% with underlying gross margins down -11%. Meanwhile, growth in specialty brands moderated.
Macquarie is looking for increased uptake and additional revenue going forward from Lexette and Tolsura. Neutral maintained. Target is reduced to $0.41 from $0.57.
Sector: Pharmaceuticals, Biotechnology & Life Sciences.
Target price is $0.41.Current Price is $0.38. Difference: $0.03 – (brackets indicate current price is over target). If MYX meets the Macquarie target it will return approximately 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
