Standpoint Research Analysts Begin Coverage on Hi-Tech Pharmacal (HITK)
Investment analysts at Standpoint Research began coverage on shares of Hi-Tech Pharmacal (NASDAQ: HITK) in a note issued to investors on Monday. The firm set a “buy” rating and a $43.00 price target on the stock.
Shares of Hi-Tech Pharmacal traded down 0.39% during mid-day trading on Monday, hitting $32.94. Hi-Tech Pharmacal has a one year low of $23.72 and a one year high of $44.58. The company has a market cap of $429.6 million and a P/E ratio of 8.62.
Hi-Tech Pharmacal last announced its earnings results on Thursday, March 8th. The company reported $0.79 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.87 by $0.08. Hi-Tech Pharmacal’s revenue was up 11.9% compared to the same quarter last year. On average, analysts predict that Hi-Tech Pharmacal will post $0.79 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company reiterated a “hold” rating on shares of Hi-Tech Pharmacal in a research note to investors on Friday, March 9th. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Hi-Tech Pharmacal in a research note to investors on Tuesday, March 6th.
Hi-Tech Pharmacal Co, Inc. (Hi-Tech) is a specialty manufacturer and marketer of prescription, over-the-counter (OTC) and nutritional products.