UBS cuts PolyPeptide to neutral at Samsung Biologics' CHF43.90 cash offer
Shares in the peptide contract manufacturer are up 82.9% year to date and now trade near the all-cash tender price.
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By Tom Reyes · Markets Editor
Oct 8 21:06 ETSource: Simply Wall Street
The wire
- 01UBS downgraded PolyPeptide Group to neutral after aligning its valuation with Samsung Biologics' all-cash tender offer of CHF43.90 per share; the stock returned 4.6% over 90 days.
- 02PolyPeptide supplies peptide APIs and development services, so ownership of a major CDMO affects capacity and sourcing for peptide developers.
- 03The deal could still be delayed or fall through, and the stock trades at a 107.6x P/E against a modelled fair level of 35.5x.
From the source
Read at simplywall.stPolyPeptide Group (SWX:PPGN) As Samsung Biologics Bid Leaves The Stock Looking Fully Valued
UBS downgraded PolyPeptide Group (SWX:PPGN) to neutral after aligning its valuation view with Samsung Biologics' all cash tender offer. Attention now turns to deal completion and what that implies for the remaining upside.
