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Analysts Reduce Target Price for Bausch Health Companies in March

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Analysts’ recommendations and target price

Wall Street analysts expect an upside potential of 24.28% for Bausch Health Companies (BHC) based on the company’s closing price on March 22. In 2019, analysts revised downwards the company’s target price from $30.29 in January and February to $30.00 in March. The current consensus analyst recommendation for the stock is a “hold.”

To learn about Bausch Health Companies’ key growth drivers in fiscal 2019, read What Are Bausch Health’s Key Growth Drivers in 2019?

Of the 17 analysts covering Bausch Health Companies, two are recommending a “strong buy,” seven are recommending a “buy,” five are recommending a “hold,” two are recommending a “sell,” and one analyst is recommending a “strong sell.” The highest target price estimate for the company is $58, and the lowest is $9.

On March 25, Bausch Health Companies closed at $24.14, 2.23% lower than its previous closing price, 61.42% higher than its 52-week low of $14.95, and 15.15% lower than its 52-week high of $28.45. The company’s market capitalization is $8.71 billion.

Based on its closing price on March 25, Bausch Health Companies has reported returns of -1.63% in the last week, 1.64% in the last month, and 28.95% in the last quarter. The company has reported returns of -3.48% in the last half year, 51.25% in the last year, and 30.70% YTD.

Business developments

On March 6, Bausch Health Companies issued a press release announcing the acquisition of certain assets of Synergy Pharmaceuticals for cash consideration of $195 million. According to the press release, this deal has bolstered Bausch Health Companies’ Salix business as well as its gastroenterology business. The transaction added Synergy Pharmaceutical’s major asset, Trulance, which is indicated for IBS-C (irritable bowel syndrome with constipation) and CIC (chronic idiopathic constipation) and investigational gastroenterology therapy, dolcanatide, to Bausch Health Companies’ portfolio.

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