DJ Mayne Pharma's Lack of Guidance Troubles Citi -- Market Talk MYX $0.285
$0.00 (0.0%) $0.28$0.285
21 Dec 2021 10:56:46
15 Views 0 comments
2356 GMT - Mayne Pharma's lack of clarity over its current performance and the wait for a positive earnings contribution from its Nextstellis birth-control drug move Citi to downgrade the stock to neutral/high risk from buy/high risk. The pharmaceutical firm decided against issuing a trading update or guidance at its recent annual general meeting, which Citi takes as a sign that current trading is worse than expected. It cuts its Ebitda forecast by 14% for FY 2022 and by 10% for FY 2023, and pushes out its expectation for a positive contribution by Nextstellis by a year to FY 2024. It cuts target price on the stock by 11% to A$0.31. Shares are down 0.9% at A$0.2875. ([email protected]; @StuartLCondie)
(END) Dow Jones Newswires
December 20, 2021 18:56 ET (23:56 GMT
MYX Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
$0.285
0 comments
(20min delay)