Pharmacyclics Receives Outperform Rating from Credit Suisse (PCYC)
Pharmacyclics (NASDAQ:PCYC)‘s stock had its “outperform” rating restated by analysts at Credit Suisse in a research report issued to clients and investors on Monday. They currently have a $121.00 price objective on the stock. Credit Suisse’s price target would suggest a potential upside of 36.75% from the company’s current price.
The analysts wrote, “We are raising our Q2 US Imbruvica sales forecast to $94M from $80M, based on recent IMS prescription and sales trends (now above the $80M guidance for Q2:14). Our full year sales estimate increases to $362M from $330M, and our 2014 EPS increases to $0.65 from $0.52. We expect PCYC will raise its overly conservative Imbruvica guidance.”
PCYC has been the subject of a number of other recent research reports. Analysts at RBC Capital downgraded shares of Pharmacyclics from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, May 27th. They now have a $95.00 price target on the stock, down previously from $110.00. Separately, analysts at Morgan Stanley cut their price target on shares of Pharmacyclics from $100.00 to $95.00 in a research note on Tuesday, May 27th. They now have an “equal weight” rating on the stock. Finally, 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. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $147.00.
Shares of Pharmacyclics (NASDAQ:PCYC) traded up 2.46% during mid-day trading on Monday, hitting $90.66. 219,229 shares of the company’s stock traded hands. Pharmacyclics has a 1-year low of $80.88 and a 1-year high of $154.89. The stock’s 50-day moving average is $93.40 and its 200-day moving average is $111.2. The company has a market cap of $6.802 billion and a price-to-earnings ratio of 51.00.
Pharmacyclics (NASDAQ:PCYC) last issued its quarterly earnings data 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 $0.14 EPS 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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