GARP Research Initiates Coverage on Forest Laboratories (FRX)
Equities researchers at GARP Research started coverage on shares of Forest Laboratories (NYSE:FRX) in a research report issued on Wednesday, StockRatingsNetwork reports. The firm set a “buy” rating on the stock.
FRX has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Mizuho raised their price target on shares of Forest Laboratories (NYSE:FRX) from $44.00 to $49.00 in a research note to investors on Tuesday, July 9th. They now have a “buy” rating on the stock.
One equities research 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’s stock. Forest Laboratories has an average rating of “Buy” and a consensus target price of $41.94.
Forest Laboratories (NYSE:FRX) traded up 0.40% during mid-day trading on Wednesday, hitting $44.78. The stock had a trading volume of 789,367 shares. Forest Laboratories has a 52-week low of $31.71 and a 52-week high of $44.92. The stock’s 50-day moving average is $43.46 and its 200-day moving average is $40.38. 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 for the quarter, beating the analysts’ 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 last year, the company posted $0.28 earnings per share. Forest Laboratories’s revenue was up 1.4% compared to the same quarter last year. Analysts expect that Forest Laboratories will post $0.96 EPS 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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