13:07:06 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



DRI Healthcare Trust
Symbol DHT
Shares Issued 56,358,240
Close 2024-02-02 C$ 14.20
Market Cap C$ 800,287,008
Recent Sedar Documents

Globe says uptick in royalties seen at DRI Healthcare

2024-02-02 07:26 ET - In the News

The Globe and Mail reports in its Friday edition that National Bank Financial analyst Zachary Evershed has reaffirmed his "outperform" recommendation for DRI Healthcare Trust. The Globe's David Leeder writes in the Eye On Equities column that Mr. Evershed's share target soared $3.50 to $22. Analysts on average target the shares at $20.20. On Thursday, DRI, which provides financing to life sciences companies, announced the acquisition of an expanded interest in certain royalty payments based on net sales of Omidria, a novel ophthalmic product for use in cataract and lens replacement surgery, in the U.S. from Omeros for $115-million paid in advance. Mr. Evershed says in a note: "With the uptick in expected royalties on Omidria, we believe it will now account for 30 per cent of DRI's portfolio. The level of concentration this would have created if the initial Omidria I transaction in 2022 included the same uncapped terms as Omidria II is likely a contributing reason why this follow-on royalty purchase is only coming to fruition now, as the portfolio has grown enough to support it." The Globe reported on Dec. 22 that Mr. Evershed had reiterated his "outperform" recommendation for DRI when it could be had for $12.63.

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