WeightWatchers Surges on Obesity-Drug Related Deal, New Wall Street Bull
- WW International has completed its acquisition of Sequence
- The deal will help it access the market for weight-loss drugs
Photographer: Daniel Acker/Bloomberg
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Shares of WW International, previously known as WeightWatchers, soared 59% Tuesday in its largest move since March after it gained a new Wall Street bull, following the closing of its acquisition of a telehealth provider that will help it access the growing market for new obesity drugs.
Goldman Sachs analyst Jason English upgraded his rating on the stock to buy from neutral following the company’s acquisition of Sequence. English also raised his price target on WW to $13 from $3.80, implying that shares could surge 216% from their close on Monday.