HC Wainwright Reaffirms “Buy” Rating for Taro Pharmaceutical Industries (NYSE:TARO)

HC Wainwright reaffirmed their buy rating on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a report published on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a $110.00 price objective on the stock, up from their previous price objective of $105.00.

Several other brokerages have also recently issued reports on TARO. Zacks Investment Research raised shares of Taro Pharmaceutical Industries from a sell rating to a hold rating in a research report on Tuesday, October 15th. ValuEngine raised shares of Taro Pharmaceutical Industries from a sell rating to a hold rating in a report on Wednesday, October 2nd.

Shares of TARO traded up $0.56 during mid-day trading on Tuesday, hitting $76.85. 42,316 shares of the company’s stock were exchanged, compared to its average volume of 61,502. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 10.63 and a beta of 0.43. Taro Pharmaceutical Industries has a fifty-two week low of $72.97 and a fifty-two week high of $109.42. The stock’s 50-day moving average is $77.32 and its 200-day moving average is $85.84.

Taro Pharmaceutical Industries (NYSE:TARO) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.72 by ($0.26). The business had revenue of $160.85 million for the quarter, compared to analyst estimates of $168.60 million. Taro Pharmaceutical Industries had a return on equity of 14.13% and a net margin of 40.43%. As a group, research analysts predict that Taro Pharmaceutical Industries will post 6.45 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System grew its position in shares of Taro Pharmaceutical Industries by 15.7% during the third quarter. California Public Employees Retirement System now owns 41,626 shares of the company’s stock worth $3,141,000 after acquiring an additional 5,642 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its position in Taro Pharmaceutical Industries by 129.4% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 6,905 shares of the company’s stock valued at $590,000 after buying an additional 3,895 shares during the last quarter. Schroder Investment Management Group grew its position in Taro Pharmaceutical Industries by 23.5% in the 2nd quarter. Schroder Investment Management Group now owns 66,300 shares of the company’s stock valued at $5,663,000 after buying an additional 12,600 shares during the last quarter. Jane Street Group LLC acquired a new stake in Taro Pharmaceutical Industries in the second quarter valued at $290,000. Finally, Citadel Advisors LLC lifted its holdings in Taro Pharmaceutical Industries by 9.5% in the second quarter. Citadel Advisors LLC now owns 45,433 shares of the company’s stock valued at $3,881,000 after acquiring an additional 3,958 shares during the period. 10.13% of the stock is currently owned by hedge funds and other institutional investors.

Taro Pharmaceutical Industries Company Profile

Taro Pharmaceutical Industries Ltd., a science-based pharmaceutical company, engages in the development, manufacture, and marketing of pharmaceutical products in the United States, Canada, Israel, and internationally. It offers prescription and over-the-counter pharmaceutical products focusing on primary areas, including topical creams and ointments, liquids, capsules, and tablets in the dermatological and topical, cardiovascular, neuropsychiatric, and anti-inflammatory therapeutic categories.

See Also: The basics of gap trading strategies

Receive News & Ratings for Taro Pharmaceutical Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taro Pharmaceutical Industries and related companies with MarketBeat.com's FREE daily email newsletter.