Needham & Company Maintains a 'Strong Buy' on Par Pharmaceutical (PRX); Generic Core Delivers; Substantial Upside with Lovaza on Horizon
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Price: $49.98 --0%
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
1 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Needham & Company maintains a 'Strong Buy' on Par Pharmaceutical (NYSE: PRX) price target raised from $42 to $48.
Analyst, Elliot Wilbur, said, "Even a light launch calendar couldn’t stop PRX from outstripping Street expectations in 1Q12 as top-line performance of key generics offset modest top-line shortfall in branded Strativa assets and lighter than forecast gross margin trend to yield another positive EPS surprise."
"Increasing 2012 revenue and EPS (from $3.49 to $3.84) estimates to account for 1Q12 outperformance and raising new product sales assumptions by $60.0MM to $200.0MM to account for better than expected launch dynamics around generic Provigil, now a two-player generic market vs. prior expectations of four entrants."
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 $42.08 yesterday.
Analyst, Elliot Wilbur, said, "Even a light launch calendar couldn’t stop PRX from outstripping Street expectations in 1Q12 as top-line performance of key generics offset modest top-line shortfall in branded Strativa assets and lighter than forecast gross margin trend to yield another positive EPS surprise."
"Increasing 2012 revenue and EPS (from $3.49 to $3.84) estimates to account for 1Q12 outperformance and raising new product sales assumptions by $60.0MM to $200.0MM to account for better than expected launch dynamics around generic Provigil, now a two-player generic market vs. prior expectations of four entrants."
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 $42.08 yesterday.
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