Forest Laboratories Now Covered by Credit Suisse (FRX)
Credit Suisse started coverage on shares of Forest Laboratories (NYSE:FRX) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
Forest Laboratories (NYSE:FRX) traded down 0.51% on Tuesday, hitting $42.65. The stock had a trading volume of 1,975,010 shares. Forest Laboratories has a 52 week low of $31.71 and a 52 week high of $44.96. The stock has a 50-day moving average of $43.30 and a 200-day moving average of $41.0. The company’s market cap is $11.449 billion.
Forest Laboratories (NYSE:FRX) last released its earnings data 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. On average, analysts predict that Forest Laboratories will post $0.95 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on FRX. Analysts at GARP Research initiated coverage on shares of Forest Laboratories in a research note to investors on Wednesday, September 18th. They set a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Forest Laboratories 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 from a “negative” rating to a “neutral” rating in a research note to investors on Wednesday, July 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $41.80.
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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