Stock Track | Option Care Health Plunges After Goldman Sachs Downgrade on Drug Pricing Concerns

Stock Track11-05

Shares of Option Care Health Inc (OPCH) plummeted by 6.14% on November 4, 2024, at 10:00 AM ET, following a downgrade by Goldman Sachs due to concerns over potential drug pricing pressure.

Goldman Sachs lowered its rating on OPCH from Buy to Neutral and set a price target of $27 per share. The brokerage cited worries that one of OPCH's key drugs, Stelara, could face significant spread compression in 2025 after the drug manufacturer negotiated for a rapid decline in the drug's spread for OPCH.

The analysts at Goldman Sachs expressed concerns that this precedent set by Stelara's manufacturer could lead to pricing pressure across OPCH's portfolio of drugs, especially around the upcoming loss of exclusivity (LOE) events between 2025 and 2029. They believe these risks will be heightened during this period, potentially impacting OPCH's profitability.

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