Cardinal Health Could Benefit From RayzeBio's Phase 3 Success, RBC Says

MT Newswires Live10-13 23:45

Cardinal Health (CAH) could benefit from positive phase 3 results for RayzeBio's RYZ101, reinforcing its nuclear medicine manufacturing growth outlook, RBC Capital Markets said in a note Monday.

The analysts said the results support their forecast for Cardinal Health's "Other" segment to outperform market expectations. They added that RayzeBio is an existing Cardinal Health customer that benefits from its Ac-225 manufacturing capabilities.

Management has said it only needs modest successes from its pipeline of more than 70 nuclear medicine trials, the analysts said, adding that they see the results as a "meaningful proof point."

"The data validates the alpha emitter class broadly and reinforces Cardinal Health's unique positioning as the only end-to-end partner in nuclear pharmaceutical development," they added.

RBC reiterated its outperform rating and $276 price target on Cardinal Health.

Price: 238.00, Change: -0.08, Percent Change: -0.03

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