Barclays says this women's health pharma company could rally 48%

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The bank began research coverage of the women's health drugmaker that was spun out of Merck with an overweight rating.

Organon is an undervalued global play and leader in women's specialty health, according to Barclays. The company, with a portfolio of around 60 treatments and products focused on women's health, was spun off from Merck in 2021 . The stock has suffered ever since, sliding 8% in 2022 and 33% so far in 2023, although it does pay a 5.9% dividend. Barcklays analyst Balaji Prasad initiated coverage on Organon with an overweight rating.

"Though the company is weighed by declining legacy brands, we believe that its differentiated Women's Health franchise combined with growing Biosimilars franchise, coupled with undemanding valuations and a dividend yield of 6% justifies an [overweight] stance," Prasad said in a Thursday note. The analyst forecasts Organon will grow at a 2% compound annual growth rate over the next five years.

 

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