Standpoint Research Starts Hi Tech Pharmacal (HITK) at Buy; Large Pipeline

Standpoint Research initiates coverage on Hi Tech Pharmacal (NASDAQ: HITK) with a Buy. PT $43.00.

Analyst, Ronnie Moas, said, "Hi-Tech currently has 14 products awaiting approval at the FDA, targeting brand and generic sales of > $1.5 billion. In addition, Hi-Tech has 20 products in active development targeting brand sales of > $3 billion, including sterile ophthalmic products, oral solutions and suspensions and nasal sprays."

"HITK continued with strong performance in Q4 despite a mild cough, cold and flu season. Even though some are concerned with the HITK dependency on Fluticasone, it continues to sell extremely well. The balance sheet remains strong and HITK continues to seek new opportunities through research and development and product acquisitions."

For an analyst ratings summary and ratings history on Hi Tech Pharmacal click here. For more ratings news on Hi Tech Pharmacal click here.

Shares of Hi Tech Pharmacal closed at $32.47 yesterday.

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