Needham & Company on Hi Tech Pharmacal (HITK): Four Reason to Buy the Stock Here

Needham & Company maintains a 'Buy' on Hi Tech Pharmacal (NASDAQ: HITK) price target of $45.00.

Analyst, Randall Stanicky, said, "As anticipated, EPS missed consensus but largely on transitory issues. With a widely anticipated tough fiscal Q4 now past, we see four reasons to buy the stock here: (1) we leave fiscal Q4 with greater comfort in outer year numbers which move higher; (2) balance sheet is cash rich at > $6 per share on a stock at < $30; (3) asset base is high barrier with strategic value and progressing pipeline; and (4) valuation is compelling at ~ 4.1x EV/EBITDA on F2014E (April). While we recognize a lack of obvious near-term catalysts as push-back, we also recognize a sizable cash balance that is likely to draw attention."

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 $29.97 yesterday.

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