Needham & Company Reaffirms Buy Rating on Pharmacyclics (PCYC)

By admin | 6 years ago

Pharmacyclics (NASDAQ: PCYC)‘s stock had its “buy” rating restated by equities researchers at Needham & Company in a report issued on Tuesday.

Pharmacyclics traded up 0.03% on Tuesday, hitting $34.10. Pharmacyclics has a 52-week low of $7.63 and a 52-week high of $34.17. The company has a market cap of $2.355 billion and a price-to-earnings ratio of 130.61.

Pharmacyclics last posted its quarterly earnings results on Thursday, May 10th. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.20) by $0.06. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts expect that Pharmacyclics will post $0.05 EPS next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Rodman & Renshaw raised their price target on shares of Pharmacyclics from $22.00 to $40.00 in a research note to investors on Thursday, May 17th. They now have an “outperform” rating on the stock. Analysts at Wedbush raised their price target on shares of Pharmacyclics from $5.00 to $40.00 in a research note to investors on Tuesday, March 20th.

Pharmacyclics, Inc. is a clinical-stage biopharmaceutical company focused on developing and commercializing small-molecule drugs for the treatment of cancer and immune mediated diseases.

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