Needham & Company Gives Strong-Buy Rating to Par Pharmaceutical Companies Incorporated (PRX)

By admin | 6 years ago

Par Pharmaceutical Companies Incorporated (NYSE: PRX)‘s stock had its “strong-buy” rating reaffirmed by research analysts at Needham & Company in a report released on Wednesday.

Par Pharmaceutical Companies Incorporated traded down 2.40% on Wednesday, hitting $36.12. Par Pharmaceutical Companies Incorporated has a 52-week low of $24.85 and a 52-week high of $42.25. The company has a market cap of $1.316 billion and a price-to-earnings ratio of 24.72.

Par Pharmaceutical Companies Incorporated last posted its quarterly earnings results on Tuesday, May 8th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.08. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. Analysts expect that Par Pharmaceutical Companies Incorporated will post $1.07 EPS next quarter.

A number of other analysts have also recently weighed in on PRX. Analysts at UBS AG (NYSE: UBS) raised their price target on shares of Par Pharmaceutical Companies Incorporated from $42.00 to $48.00 in a research note to investors on Wednesday, May 9th. They now have a “buy” rating on the stock. Separately, analysts at Piper Jaffray (NYSE: PJC) initiated coverage on shares of Par Pharmaceutical Companies Incorporated in a research note to investors on Thursday, April 19th. They set an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase (NYSE: JPM) initiated coverage on shares of Par Pharmaceutical Companies Incorporated in a research note to investors on Friday, March 16th. They set a “neutral” rating and a $40.00 price target on the stock.

Par Pharmaceutical Companies, Inc., is a holding company that, principally through its wholly owned operating subsidiary, Par Pharmaceutical, Inc.

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