Mylan Downgraded to “Equal Weight” at Morgan Stanley (MYL)
Mylan (NASDAQ:MYL) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday, Stock Ratings Network reports.
A number of other analysts have also recently weighed in on MYL. Analysts at JPMorgan Chase & Co. raised their price target on shares of Mylan from $40.00 to $42.00 in a research note to investors on Tuesday, September 10th. They now have an “overweight” rating on the stock. Separately, analysts at Sanford C. Bernstein upgraded shares of Mylan from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, September 10th. They now have a $44.00 price target on the stock, up previously from $35.00. Finally, analysts at Argus raised their price target on shares of Mylan from $35.00 to $42.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $38.58.
Shares of Mylan (NASDAQ:MYL) traded down 1.08% during mid-day trading on Monday, hitting $39.48. The stock had a trading volume of 3,885,913 shares. Mylan has a 1-year low of $23.25 and a 1-year high of $40.55. The stock’s 50-day moving average is $37.82 and its 200-day moving average is $32.91. The company has a market cap of $15.074 billion and a price-to-earnings ratio of 24.48.
Mylan, Inc develops and markets generics along with a number of proprietary drugs. The Company’s product is for the treatment of migraine headaches, an orphan drug for the on/off fluctuation in people with Parkinson’s disease, and a wound care product to treat diabetic foot ulcers.
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