Pharmacyclics Rating Reiterated by Zacks (PCYC)
Pharmacyclics (NASDAQ:PCYC)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Friday. They currently have a $126.00 price objective on the stock. Zacks‘s price objective indicates a potential upside of 7.78% from the stock’s previous close.
Zacks’ analyst wrote, “Pharmacyclics’ second quarter 2014 loss (including stock-based compensation expenses) of $0.49 per share was wider than the Zacks Consensus Estimate of a loss of $0.20. Moreover, loss in the second quarter of 2014 compared unfavorably with the year-ago earnings of $0.17 per share. Earnings in the quarter were hurt by higher expenses. Total revenues of $113 million in the second quarter of 2014 were well above the Zacks Consensus Estimate of $90 million. Revenues in the quarter included Imbruvica sales of $109.5 million. We believe that the stock is fairly valued at current levels and hence maintain our Neutral recommendation on the stock. Our target price is $126.00 per share.”
Other equities research analysts have also recently issued reports about the stock. Analysts at WallachBeth Capital upgraded shares of Pharmacyclics from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $160.00 price target on the stock. Separately, analysts at Leerink Swann upgraded shares of Pharmacyclics from a “market perform” rating to an “outperform” rating in a research note on Tuesday. They now have a $142.00 price target on the stock, up previously from $102.00. Finally, analysts at Roth Capital reiterated a “buy” rating on shares of Pharmacyclics in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Pharmacyclics has a consensus rating of “Buy” and an average target price of $152.87.
Shares of Pharmacyclics (NASDAQ:PCYC) opened at 116.91 on Friday. Pharmacyclics has a 52-week low of $82.51 and a 52-week high of $154.89. The stock’s 50-day moving average is $97.54 and its 200-day moving average is $109.. The company has a market cap of $8.772 billion and a P/E ratio of 69.42.
Pharmacyclics (NASDAQ:PCYC) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.26) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.23) by $0.03. The company had revenue of $113.00 million for the quarter, compared to the consensus estimate of $95.88 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 106.6% on a year-over-year basis. On average, analysts predict that Pharmacyclics will post $0.44 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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