Forest Laboratories Inc. Reaches New 12-Month High at $44.94 (FRX)
Shares of Forest Laboratories (NYSE:FRX) hit a new 52-week high during trading on Wednesday, StockRatingsNetwork reports. The stock traded as high as $44.94 and last traded at $44.77, with a volume of 671,044 shares trading hands. The stock had previously closed at $44.60.
A number of analysts have recently weighed in on FRX shares. Analysts at GARP Research initiated coverage on shares of Forest Laboratories (NYSE:FRX) in a research note to investors on Wednesday. They set a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Forest Laboratories (NYSE:FRX) in a research note to investors on Wednesday, July 24th. They now have a $46.00 price target on the stock. Finally, analysts at Susquehanna upgraded shares of Forest Laboratories (NYSE:FRX) from a “negative” rating to a “neutral” rating in a research note to investors on Wednesday, July 24th.
One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $41.94.
Forest Laboratories has a 52-week low of $31.71 and a 52-week high of $44.94. The stock has a 50-day moving average of $43.48 and a 200-day moving average of $40.44. The company’s market cap is $12.021 billion.
Forest Laboratories (NYSE:FRX) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.19. The company had revenue of $796.90 million for the quarter, compared to the consensus estimate of $798.41 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts predict that Forest Laboratories will post $0.96 earnings per share for the current fiscal year.
Forest Laboratories, Inc (NYSE:FRX) develops, manufactures and sells branded forms of ethical drug products, most of which requires a physician’s prescription.
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