Cowen Initiates Coverage on Pharmerica Corporation (PMC)

By admin | 6 years ago

Investment analysts at Cowen began coverage on shares of Pharmerica Corporation (NYSE: PMC) in a note issued to investors on Friday. The firm set a “neutral” rating on the stock.

Shares of Pharmerica Corporation traded up 1.88% during mid-day trading on Friday, hitting $10.30. Pharmerica Corporation has a 52 week low of $10.43 and a 52 week high of $16.45. The company has a market cap of $303.8 million and a P/E ratio of 11.63.

Pharmerica Corporation last announced its earnings results on Wednesday, May 2nd. The company reported $0.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.03. Pharmerica Corporation’s revenue was down 6.8% compared to the same quarter last year. On average, analysts predict that Pharmerica Corporation will post $0.30 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at RBC Capital (NYSE: RY) upgraded shares of Pharmerica Corporation from a “sector perform” rating to an “outperform” rating in a research note to investors on Thursday, May 3rd. They now have a $15.00 price target on the stock, up previously from $13.00. Analysts at UBS AG (NYSE: UBS) cut their price target on shares of Pharmerica Corporation from $15.00 to $13.00 in a research note to investors on Wednesday, April 25th. They now have a “neutral” rating on the stock.

PharMerica Corporation is an institutional pharmacy services company that services healthcare facilities and provides management pharmacy services to hospitals.

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