Share on StockTwits

Actavis plc (NYSE:ACT)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Wednesday. They currently have a $225.00 target price on the stock. Zacks‘s price target would indicate a potential upside of 4.81% from the stock’s previous close.

Zacks’ analyst wrote, “Actavis’ second quarter results were once again strong with the company beating on both the top- and bottom-line. Earnings grew 70.1% to $3.42 per share, beating the Zacks Consensus Estimate of $3.37. Revenues increased 34% to $2.67 billion, beating the Zacks Consensus Estimate of $2.56 billion. We remain optimistic about Actavis’ growth prospects. We are positive on the Forest acquisition which is in line with Actavis’ strategy of building its branded product portfolio. With a fewer number of blockbuster products slated to lose patent protection in the coming years, quite a few generic companies have been focusing on strengthening their branded products offerings. We are encouraged by Actavis’ focus on building its branded and biosimilars pipeline. We remain Neutral on the stock. “

A number of other firms have also recently commented on ACT. Analysts at Susquehanna raised their price target on shares of Actavis plc from $260.00 to $270.00 in a research note on Wednesday. Separately, analysts at Sterne Agee raised their price target on shares of Actavis plc from $5.00 to $255.00 in a research note on Wednesday. Finally, analysts at BMO Capital Markets raised their price target on shares of Actavis plc from $226.00 to $227.00 in a research note on Wednesday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $233.96.

Shares of Actavis plc (NYSE:ACT) traded down 4.33% on Wednesday, hitting $205.37. 3,236,768 shares of the company’s stock traded hands. Actavis plc has a one year low of $130.06 and a one year high of $230.77. The stock has a 50-day moving average of $218.3 and a 200-day moving average of $207.5. The company’s market cap is $35.826 billion. Actavis plc also was the recipient of unusually large options trading activity on Monday. Stock investors purchased 7,536 put options on the company. This is an increase of approximately 468% compared to the average volume of 1,327 put options.

Actavis plc (NYSE:ACT) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $3.42 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.36 by $0.06. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company posted $2.01 earnings per share. The company’s quarterly revenue was up 34.0% on a year-over-year basis. Analysts expect that Actavis plc will post $13.64 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.

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.