Needham & Company Maintains a 'Strong Buy' on Par Pharmaceutical (PRX); Analyst Day Highlights Strong Generic Fundamentals, Enhanced Capability and Capacity
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Price: $49.98 --0%
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Strong Buy' on Par Pharmaceutical (NYSE: PRX) price target raised $1 to $42.
Needham analyst says, "PRX hosted its analyst day, presenting a compelling 3-year outlook for the 2012-2014 period and describing how recent acquisitions will contribute to the growth strategy. As is typical of such events, management confidence and excitement pertaining to growth outlook and recent M&A activity was not lacking though we’ll take this as a plus considering the group’s usual low-key style. Unlike prior years, the focus was mainly (if not entirely) on the core generic business, further confirming that Strativa (branded business) will play a minimal role as a future growth driver suggesting pure upside potential should PRX secure another branded growth asset. Existing generic products are expected to remain a key growth driver thru 2012-2014 with increasing contributions from the ANDA pipeline which has been drastically revamped through the acquisitions of Edict, Anchen and Teva products. On a long-term basis (beyond 2014), enhanced capabilities and capacity provided by Edict and Anchen are expected to fuel the R&D pipeline and increase the cadence of product launches. Given strong fundamentals around the current generic product line and the strong pipeline dynamics, we believe the risk/reward profile of PRX shares remains favorable."
For an analyst ratings summary and ratings history on Par Pharmaceutical click here. For more ratings news on Par Pharmaceutical click here.
Shares of Par Pharmaceutical closed at $34.01 yesterday.
Needham analyst says, "PRX hosted its analyst day, presenting a compelling 3-year outlook for the 2012-2014 period and describing how recent acquisitions will contribute to the growth strategy. As is typical of such events, management confidence and excitement pertaining to growth outlook and recent M&A activity was not lacking though we’ll take this as a plus considering the group’s usual low-key style. Unlike prior years, the focus was mainly (if not entirely) on the core generic business, further confirming that Strativa (branded business) will play a minimal role as a future growth driver suggesting pure upside potential should PRX secure another branded growth asset. Existing generic products are expected to remain a key growth driver thru 2012-2014 with increasing contributions from the ANDA pipeline which has been drastically revamped through the acquisitions of Edict, Anchen and Teva products. On a long-term basis (beyond 2014), enhanced capabilities and capacity provided by Edict and Anchen are expected to fuel the R&D pipeline and increase the cadence of product launches. Given strong fundamentals around the current generic product line and the strong pipeline dynamics, we believe the risk/reward profile of PRX shares remains favorable."
For an analyst ratings summary and ratings history on Par Pharmaceutical click here. For more ratings news on Par Pharmaceutical click here.
Shares of Par Pharmaceutical closed at $34.01 yesterday.
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