Needham & Company Maintains a 'Strong Buy' on Par Pharmaceutical (PRX); Strong New Product Launch Cadence & Conservative Pricing Erosion Support Upward Bias

Needham & Company maintains a 'Strong Buy' on Par Pharmaceutical (NYSE: PRX) price target of $42.00.

Analyst, Elliot Wilbur, said, "PRX closed out 2011 on a strong note with both top and bottom line results outdistancing expectations, aided by the first-time inclusion of
results from the recently acquired Anchen. Momentum in 2012 remains strong anchored by the recent purchases of Anchen, Edict and a basket of niche generics that provide substantial near-term visibility and added upside punch to a year of significant organic growth potential powered by date-certain launches on generics with some $2.5B in sales and six to nine additional new product introductions including a possible launch of generic Lovaza ($1.0B lipid regulator). Despite recent share price run, we believe near-term earnings expectations remain conservative in light of current pipeline dynamics and upside opportunity from Lovaza/Travoprost patent challenge endeavors."

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 $37.80 yesterday.

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