Emergent BioSolutions initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Emergent BioSolutions (EBS) with a Buy rating and $15 price target Emergent is an established biopharmaceutical company with three core divisions – over-the-counter opioid overdose reversal, infectious disease vaccines, antibodies and small molecule antivirals, and a contract development and manufacturing organization providing bioservices to various life sciences-focused companies, the analyst tells investors in a research note. The firm says the company has a diversified, durable business with multiple favorably positioned segments. Emergent’s key revenue contributors are slated to show long-term growth, while Narcan may show greater durability than previously expected, contends H.C. Wainwright.