BUZZ-Lantheus falls on up to $1 billion acquisition
ReutersJan 28, 2025 6:17 PM
Shares of medical diagnostics co Lantheus Holdings LNTH.O fall 7.4% to $91.03
LNTH says it will buy Evergreen Theragnostics to expand its oncology radiopharmaceutical pipeline with multiple experimental cancer treatments
Deal consists of an upfront payment of $250 mln and up to $752.5 mln in milestone payments to Evergreen
JonesTrading analyst Justin Walsh says current weakness in LNTH is due to concerns about the co deploying cash on acquisitions that are expected to add to EPS only ~18 months post-close; he believes this market reaction is "wholly unwarranted"
Deal expected to close in H2 2025
12 of 13 brokerages rate the stock "buy" or higher and 1 "hold"; their median PT is $135 - LSEG
LNTH gained 41.8% in 2024
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