Viking, CRISPR, Intellia among potential M&A targets: Wells Fargo
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 25 2024
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Source: SeekingAlpha
- Wells Fargo Biopharma M&A Screen: Wells Fargo released its annual biopharma M&A screen, listing potential acquisition targets for 2024 like Viking Therapeutics, CRISPR Therapeutics, and Intellia Therapeutics.
- Criteria for Selection: The investment bank identified 31 companies in the biopharma SMid-cap space that demonstrate a high or medium fit to large-cap pharmaceutical companies based on revenue and growth criteria.
- M&A Deal Trends: Data analytics firm GlobalData reported a 71% increase in deals valued at $1B or higher in the pharmaceutical and biotechnology industry in Q1 2024 compared to the previous year.
- Predictions and Success Rate: Eight high/medium fit companies from Wells Fargo's 2023 biopharma M&A screen were acquired last year, showcasing the success of their predictions.
- Outlook and Expectations: Wells Fargo expects small-scale M&A transactions to dominate dealmaking, with Merck anticipated to lead dealmaking due to its strong financial position.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
