Taro Pharmaceutical Industries Ltd. up 0.84% ​​to $33.54 after profit loss

Taro Pharmaceutical Industries Ltd. (TARO) said after the close Thursday that it earned $0.66 per share in the second quarter of 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates. or previous periods.

On the revenue line, the company reported $130.5 million, missing estimates of $30.5 million.

In the same quarter a year ago, the company earned $0.66 per share on revenue of $132 million.

The stock is up 0.84% ​​at $33.54 after the report.

The company’s lower revenue growth relative to earnings indicates that the company has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a strong buy which could be revised based on this new data.

Trading in the five days leading up to the report earned Taro Pharmaceutical Industries Ltd. a bullish sentiment ranking of InvestorsObserver.

Taro Pharmaceutical Industries Ltd. has performed slightly below average in recent months. Prior to the report, Taro Pharmaceutical Industries Ltd. received a long-term technical ranking by InvestorsObserver of 43, putting it in the bottom half of the stock. The company was recently trading at a 52-week low of $28.26 on October 11, 2022 and set a 52-week high on October 28, 2021 at $62.22.

Taro Pharmaceutical Industries Ltd produces, researches, develops and markets pharmaceutical products. Its main focus includes semi-solid formulations, such as creams and ointments and other dosage forms such as liquids, capsules and tablets. The Company is engaged in dermatological and topical, cardiovascular, neuropsychiatric and anti-inflammatory therapeutic categories. Geographically, it derives the majority of its revenue from the United States and also has a presence in Canada, Israel and other countries.