Equities researchers at Rodman & Renshaw lifted their target price on shares of Pharmacyclics (NASDAQ: PCYC) from $22.00 to $40.00 in a report issued on Thursday. The firm currently has an “outperform” rating on the stock.
Shares of Pharmacyclics traded up 1.60% during mid-day trading on Thursday, hitting $28.59. Pharmacyclics has a one year low of $6.62 and a one year high of $31.00. The company has a market cap of $1.968 billion and a P/E ratio of 107.82.
Pharmacyclics last issued its quarterly earnings data on Thursday, May 10th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the 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.
A number of other analysts have also recently weighed in on PCYC. 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. Analysts at RBC Capital (NYSE: RY) upgraded shares of Pharmacyclics from a “sector perform” rating to an “outperform” rating in a research note to investors on Tuesday, February 21st. They now have a $34.00 price target on the stock, up previously from $15.00.
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.