Buy this pharma stock that could more than double if it clears a legal battle, Jefferies says


Jefferies advised investors to buy Bausch Health Companies shares as they can more than double in value from this point. Analyst Glen Santangelo raised his price target and upgraded shares from hold to buy, stating that a legal win is imminent for the company, which should push shares higher. Bausch Health has been involved in a court battle to stop generic versions of Xifaxan (a drug used for irritable bowel disease with diarrhea). BHC 1D mountain Bausch Health Companies 1 day “As stated in our previous articles, we are confident that BHC will prevail in the Xifaxan lawsuit and prevent gx entries until 2028. On the 2Q call mgt stated that it expected updates on the Norwich v FDA in 4Q23, and an update regarding the appeals process in 1Q24,” wrote Santangelo Wednesday. These updates are crucial as we