Pharmacyclics Receives “Neutral” Rating from Zacks (PCYC)
Pharmacyclics (NASDAQ:PCYC)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Monday, AnalystRatingsNetwork reports. They currently have a $159.00 price objective on the stock. Zacks‘ target price suggests a potential upside of 4.87% from the stock’s previous close.
Zacks‘ analyst wrote, “Pharmacyclics’ fourth quarter 2013 earnings of $0.82 per share beat the Zacks Consensus Estimate of $0.77 per share. Moreover, earnings in the final quarter of 2013 were 46% above the year-ago figure. The year-over-year increase in earnings was primarily due to higher revenues. The massive increase was primarily attributable to a 90% jump in collaboration and license agreement revenue to $110 million. Revenues in the final quarter of 2013 were also boosted by the Nov 2013 U.S. approval of Imbruvica for MCL. The drug recorded sales of $13.6 million in the final quarter of 2013. The approval for the more lucrative CLL indication in Feb 2014 is a major positive for Pharmacyclics. We maintain our Neutral recommendation on the stock.”
A number of other analysts have also recently weighed in on PCYC. Analysts at Deutsche Bank raised their price target on shares of Pharmacyclics from $170.00 to $180.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at JMP Securities set a $191.00 price target on shares of Pharmacyclics in a research note on Friday. Finally, analysts at Nomura raised their price target on shares of Pharmacyclics to $166.00 in a research note on Friday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Pharmacyclics currently has an average rating of “Buy” and an average price target of $154.13.
Pharmacyclics (NASDAQ:PCYC) traded up 0.26% on Monday, hitting $152.00. 761,028 shares of the company’s stock traded hands. Pharmacyclics has a 1-year low of $71.85 and a 1-year high of $154.89. The stock’s 50-day moving average is $132.8 and its 200-day moving average is $122.8. The company has a market cap of $11.228 billion and a price-to-earnings ratio of 174.26.
Pharmacyclics (NASDAQ:PCYC) last announced its earnings results on Thursday, February 20th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.67 by $0.28. The company had revenue of $123.60 million for the quarter, compared to the consensus estimate of $85.69 million. On average, analysts predict that Pharmacyclics will post $-0.04 earnings per share for the current fiscal year.
Pharmacyclics, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing small-molecule drugs for the treatment of cancer and immune mediated diseases.
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