NEW YORK (TheStreet) -- Mylan (MYL) - Get Report stock was started with a "buy" rating and $49 price target at Mizuho earlier today as the stock has "come in a lot since the EpiPen crisis," the firm's Irina Koffler said on CNBC's "Power Lunch" on Wednesday afternoon.
Her comments come as Kaleo announced that it would release a cheaper alternative to Mylan's brand version of the EpiPen called Auvi-Q in the first half of 2017, which is sooner than anticpated, noted CNBC's Michelle Caruso-Cabrera.
However, Mylan will be launching its own generic version of the EpiPen in 2017, Koffler pointed out.
The Auvi-Q is a brand product that will be sold at branding pricing and thus will be more expensive than Mylan's generic version. "That's why I'm not worried about it this year," she added.
In addition, the EpiPen is still the "go-to product" to treat allergic reactions, Koffler said. "Even a low-price brand can't compete with that," she added.
The financial impact from the EpiPen fiasco will most likely be less than investors are anticiapting.
"The negative publicity could actually be positive because now everyone is aware of the name of the brand and what to ask for. There's a whole number of patients that are not getting EpiPens still. There's 14 million at risk and Mylan sold approximately 8 million EpiPens so it can only go up from here," she explained.
Shares of Mylan were lower in late afternoon trading on Wednesday.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings team rates Mylan as a Hold with a ratings score of C. The primary factors that have impacted the team's rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
You can view the full analysis from the report here: MYL