Actavis plc Given Consensus Recommendation of “Buy” by Analysts (NYSE:ACT)
Actavis plc (NYSE:ACT) has received a consensus recommendation of “Buy” from the twenty-four brokerages that are currently covering the company, American Banking & Market News reports. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $233.32.
Actavis plc (NYSE:ACT) opened at 216.89 on Monday. Actavis plc has a 1-year low of $130.06 and a 1-year high of $230.77. The stock has a 50-day moving average of $217.8 and a 200-day moving average of $206.5. The company’s market cap is $37.836 billion. Actavis plc also saw a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 2,966,492 shares, a drop of 84.5% from the June 30th total of 19,106,544 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 2,417,080 shares, the short-interest ratio is presently 1.2 days.
Several analysts have recently commented on the stock. Analysts at Bank of America raised their price target on shares of Actavis plc to $254.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of Actavis plc in a research note on Tuesday, July 22nd. They set a “buy” rating and a $282.00 price target on the stock. Finally, analysts at CRT Capital raised their price target on shares of Actavis plc from $245.00 to $275.00 in a research note on Wednesday, July 2nd. They now have a “buy” rating on the stock.
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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