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Research analysts at Morgan Stanley lowered their target price on shares of Pharmacyclics (NASDAQ:PCYC) from $100.00 to $95.00 in a report released on Tuesday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 8.42% from the stock’s previous close.

The analysts wrote, “We performed a detailed IMS launch analysis that suggests 2014 nums are too low, but 2015+ are too high given current trends. We see 2014 US Imbruvica sales of ~$375M (+$75M vs guide and +$42M vs cons), but 2015 sales of ~$620M (-$120M vs cons). “Key deltas vs the Street: (1) The MCL bolus was large compared to incident pts, thus we expect little Y/Y MCL sales growth; (2) R/R CLL continues to launch, but flattening new prescriptions (NRx) point to a peak ~$120M/qtr run-rate outside of incidence/price growth; (3) We model a modest impact of off-label prescribing (16% of 2015 sales).”

Shares of Pharmacyclics (NASDAQ:PCYC) traded up 0.32% on Tuesday, hitting $87.90. 2,425,233 shares of the company’s stock traded hands. Pharmacyclics has a 52-week low of $77.80 and a 52-week high of $154.89. The stock has a 50-day moving average of $94.88 and a 200-day moving average of $116.8. The company has a market cap of $6.595 billion and a price-to-earnings ratio of 50.50.

Pharmacyclics (NASDAQ:PCYC) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.23. The company had revenue of $119.40 million for the quarter, compared to the consensus estimate of $105.38 million. During the same quarter in the prior year, the company posted ($0.73) earnings per share. The company’s quarterly revenue was up 4164.3% on a year-over-year basis. Analysts expect that Pharmacyclics will post $0.13 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura cut their price target on shares of Pharmacyclics from $186.00 to $177.00 in a research note on Monday, May 5th. Separately, analysts at RBC Capital cut their price target on shares of Pharmacyclics from $150.00 to $110.00 in a research note on Monday, May 5th. They now have an “outperform” rating on the stock. Finally, analysts at Piper Jaffray downgraded shares of Pharmacyclics from an “overweight” rating to a “neutral” rating in a research note on Friday, May 2nd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $147.00.

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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