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Hi Paul, What is the future outlook for MYX Mayne Pharmaceutical? What has happened to it over the last few years? Is it going to crash and burn? Is there any upside or should I cut and run?
A: I struggle with biotechs like Mayne Pharma (MYX). The company is undergoing a transition from a provider of generic pharmaceuticals to a provider of branded products, and is expected to record a loss again in FY22. It will need to manage risks such as the timing of approvals from the FDA.
The brokers don’t see immediate upside. According to FN Arena, the consensus target price is 31c, 2c lower than the last ASX price of 33c. The range is relatively tight………..a low of 28c through to a high of 35c. There are 3 ‘neutral’ recommendations and 1 ‘buy’ recommendation, the latter from Citi and labelled ‘buy, high risk”.
