Taro Pharmaceutical Industries (NYSE:TARO) had its price objective trimmed by HC Wainwright from $115.00 to $105.00 in a research note released on Monday morning, The Fly reports. The brokerage currently has a buy rating on the stock.
Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Taro Pharmaceutical Industries from a hold rating to a strong sell rating in a research report on Thursday, June 13th. ValuEngine lowered Taro Pharmaceutical Industries from a hold rating to a sell rating in a research report on Thursday, May 23rd. Finally, TheStreet lowered Taro Pharmaceutical Industries from a b- rating to a c rating in a research report on Thursday, May 23rd.
TARO stock opened at $80.52 on Monday. The firm has a market cap of $3.21 billion, a P/E ratio of 11.14 and a beta of 0.48. Taro Pharmaceutical Industries has a 12-month low of $76.93 and a 12-month high of $110.30. The stock’s 50 day simple moving average is $83.07 and its 200 day simple moving average is $96.42.
Taro Pharmaceutical Industries (NYSE:TARO) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.96 by ($0.24). The firm had revenue of $161.30 million for the quarter, compared to analyst estimates of $169.80 million. Taro Pharmaceutical Industries had a net margin of 41.49% and a return on equity of 13.79%. On average, equities research analysts forecast that Taro Pharmaceutical Industries will post 8.98 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of TARO. Norges Bank acquired a new stake in shares of Taro Pharmaceutical Industries during the 4th quarter valued at approximately $20,825,000. Renaissance Technologies LLC grew its stake in Taro Pharmaceutical Industries by 29.6% during the 2nd quarter. Renaissance Technologies LLC now owns 552,964 shares of the company’s stock worth $47,234,000 after buying an additional 126,164 shares during the last quarter. Acadian Asset Management LLC grew its stake in Taro Pharmaceutical Industries by 16.8% during the 1st quarter. Acadian Asset Management LLC now owns 360,414 shares of the company’s stock worth $38,954,000 after buying an additional 51,826 shares during the last quarter. AJO LP grew its stake in Taro Pharmaceutical Industries by 23.6% during the 1st quarter. AJO LP now owns 216,550 shares of the company’s stock worth $23,407,000 after buying an additional 41,416 shares during the last quarter. Finally, First Manhattan Co. bought a new position in Taro Pharmaceutical Industries during the 1st quarter worth $3,810,000. 9.79% of the stock is currently owned by institutional investors and hedge funds.
Taro Pharmaceutical Industries Company Profile
Taro Pharmaceutical Industries Ltd., a science-based pharmaceutical company, engages in the development, manufacture, and marketing of pharmaceutical products in the United States, Canada, Israel, and internationally. It offers prescription and over-the-counter pharmaceutical products focusing on primary areas, including topical creams and ointments, liquids, capsules, and tablets in the dermatological and topical, cardiovascular, neuropsychiatric, and anti-inflammatory therapeutic categories.
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