Actavis plc PT Raised to $246.00 (ACT)
Investment analysts at Leerink Swann upped their price target on shares of Actavis plc (NYSE:ACT) from $245.00 to $246.00 in a note issued to investors on Thursday, American Banking News.com reports. The firm currently has an “outperform” rating on the stock. Leerink Swann’s price target points to a potential upside of 21.58% from the stock’s previous close.
A number of other firms have also recently commented on ACT. Analysts at National Alliance Securities raised their price target on shares of Actavis plc from $246.00 to $259.00 in a research note on Monday, April 28th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Actavis plc in a research note on Tuesday, April 22nd. They now have a $243.00 price target on the stock. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $211.58.
Actavis plc (NYSE:ACT) traded down 2.61% during mid-day trading on Thursday, hitting $202.34. The stock had a trading volume of 2,087,385 shares. Actavis plc has a 1-year low of $104.86 and a 1-year high of $230.77. The stock has a 50-day moving average of $203.4 and a 200-day moving average of $182.5. The company’s market cap is $35.247 billion. Actavis plc also saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 13,720,969 shares, a growth of 27.3% from the March 31st total of 10,780,226 shares. Currently, 7.9% of the company’s shares are sold short. Based on an average daily trading volume, of 3,426,026 shares, the short-interest ratio is currently 4.0 days.
Actavis plc (NYSE:ACT) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $3.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.23 by $0.26. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter last year, the company posted $1.99 earnings per share. Actavis plc’s revenue was up 40.1% compared to the same quarter last year. Analysts expect that Actavis plc will post $13.50 EPS for the current fiscal year.
Actavis, Inc formerly Watson Pharmaceuticals, Inc, is a integrated global specialty pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand, biosimilar and over-the-counter (NYSE:ACT) pharmaceutical products.
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