Pipeline diversification makes sense, says analyst Danielle Brill, but investors here may be spooked by an acquisition so close to the FDA decision on Fintepla. The purchase also makes Zogenix (NASDAQ:ZGNX) a far less likely target for a buyer, she adds.
With shares down 10% in afternoon action to $45, Brill reiterates her Overweight rating and $64 price target.
Previously: Zogenix acquires Modis Therapeutics for up to $400M (Aug. 26)
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