Leerink Swann Lowers Mylan Price Target to $55.00 (MYL)
Investment analysts at Leerink Swann dropped their price objective on shares of Mylan (NYSE:MYL) from $60.00 to $55.00 in a note issued to investors on Friday. Leerink Swann’s target price would indicate a potential upside of 19.96% from the stock’s previous close.
Shares of Mylan (NYSE:MYL) traded down 1.38% during mid-day trading on Friday, hitting $45.85. 8,791,225 shares of the company’s stock traded hands. Mylan has a 52-week low of $34.46 and a 52-week high of $57.52. The stock’s 50-day moving average is $50.66 and its 200-day moving average is $49.55. The company has a market cap of $17.136 billion and a P/E ratio of 29.04.
Mylan (NYSE:MYL) last announced its earnings results on Thursday, August 7th. The company reported $0.69 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.73 by $0.04. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company posted $0.68 earnings per share. Mylan’s revenue was up 7.9% compared to the same quarter last year. On average, analysts predict that Mylan will post $3.36 earnings per share for the current fiscal year.
A number of other firms have also recently commented on MYL. Analysts at Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Mylan in a research note on Friday. They now have a $55.00 price target on the stock, down previously from $60.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Mylan in a research note on Friday. They now have a $49.00 price target on the stock. Finally, analysts at RBC Capital downgraded shares of Mylan from an “outperform” rating to a “sector perform” rating in a research note on Friday. They now have a $53.00 price target on the stock, down previously from $60.00. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $53.42.
Mylan Inc (NYSE:MYL) is a fully integrated global pharmaceutical company that develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals.
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