Taro Pharmaceutical Industries (NYSE: TARO – Get a rating) has been updated by the investment analysts of StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.
Separately, HC Wainwright cut its price target on Taro Pharmaceutical Industries shares from $73.00 to $54.00 and set a “buy” rating on the stock in a Monday, August 15 research note.
Taro Pharmaceutical Industries Stock up 5.2%
NYSE:TARO shares opened at $33.95 on Friday. The company’s 50-day moving average price is $35.50 and its 200-day moving average price is $38.77. Taro Pharmaceutical Industries has a 12-month low of $31.31 and a 12-month high of $70.07. The stock has a market capitalization of $1.28 billion, a PE ratio of 14.03 and a beta of 0.66.
Taro Pharmaceutical Industries (NYSE: TARO – Get a rating) last released its quarterly earnings data on Wednesday, July 27. The company reported earnings per share of $0.37 for the quarter, missing the consensus estimate of $0.85 per ($0.48). Taro Pharmaceutical Industries achieved a return on equity of 5.45% and a net margin of 15.96%. The company posted revenue of $156.67 million in the quarter, versus a consensus estimate of $149.90 million. Analysts expect Taro Pharmaceutical Industries to post earnings per share of 2.98 for the current fiscal year.
Institutional entries and exits
A number of institutional investors and hedge funds have recently changed their holdings in TARO. murchinson ltd. increased its stake in Taro Pharmaceutical Industries by 59.2% during the fourth quarter. murchinson ltd. now owns 159,203 shares of the company worth $7,978,000 after purchasing an additional 59,203 shares during the period. Eversept Partners LP increased its stake in Taro Pharmaceutical Industries by 21.6% during the first quarter. Eversept Partners LP now owns 220,286 shares of the company worth $9,530,000 after purchasing an additional 39,135 shares during the period. Brandes Investment Partners LP increased its stake in Taro Pharmaceutical Industries by 8.5% during the first quarter. Brandes Investment Partners LP now owns 379,322 shares of the company worth $16,410,000 after purchasing an additional 29,606 shares during the period. Krensavage Asset Management LLC increased its stake in Taro Pharmaceutical Industries by 5.0% during the first quarter. Krensavage Asset Management LLC now owns 565,951 shares of the company worth $24,483,000 after purchasing an additional 26,984 shares during the period. Finally, Millennium Management LLC bought a new position in Taro Pharmaceutical Industries during the second quarter at a value of $859,000. 11.45% of the shares are held by hedge funds and other institutional investors.
Taro Pharmaceutical Industries Company Profile
Taro Pharmaceutical Industries Ltd., a science-based pharmaceutical company, develops, manufactures and markets prescription and over-the-counter pharmaceutical products in the United States, Canada, Israel and around the world. The Company also develops and manufactures active pharmaceutical ingredients primarily for use in its finished products in dosage form.
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