Forest Laboratories PT Raised to $39.00 (FRX)
Stock analysts at Barclays increased their target price on shares of Forest Laboratories (NYSE:FRX) from $36.00 to $39.00 in a report issued on Wednesday, American Banking News reports. The firm currently has an “equal weight” rating on the stock. Barclays’ target price would suggest a potential downside of 16.20% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Forest Laboratories in a research note to investors on Wednesday. They now have a $49.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Forest Laboratories in a research note to investors on Tuesday, October 8th. They set a “neutral” rating on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $42.40.
Shares of Forest Laboratories (NYSE:FRX) traded up 0.15% during mid-day trading on Wednesday, hitting $46.61. The stock had a trading volume of 1,653,579 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 $43.42 and its 200-day moving average is $40.24. The company’s market cap is $12.512 billion.
Forest Laboratories (NYSE:FRX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.12. The company had revenue of $811.40 million for the quarter, compared to the consensus estimate of $840.96 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 12.4% 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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