James Orsborne, an analyst from Stifel Nicolaus, maintained the Buy rating on Circassia Pharmaceuticals (NIOX – Research Report). The associated price target remains the same with p77.00.
James Orsborne has given his Buy rating due to a combination of factors including the recent developments surrounding Circassia Pharmaceuticals. Despite the withdrawal of a potential cash offer from Keensight Capital, which was initially set at 81p per share, Orsborne sees potential in the stock. The decision not to proceed with the offer was influenced by the uncertain macroeconomic environment, yet the stock still holds promise.
Orsborne adjusted the price target to 77p, reflecting the company’s intrinsic value before the bid was announced. This adjustment, alongside the current share price of 70p, suggests a potential upside of 9.4%. The analyst acknowledges the potential for short-term volatility but maintains a positive outlook on the stock’s longer-term prospects.