POZEN Rating Increased to Buy at Ascendiant Capital Markets (POZN)
POZEN (NASDAQ:POZN) was upgraded by Ascendiant Capital Markets from a “hold” rating to a “buy” rating in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm currently has a $10.00 price target on the stock. Ascendiant Capital Markets’ price target would suggest a potential upside of 22.25% from the company’s current price.
The analysts wrote, “Pozen has reported Q2 results. Revenue was $7.4 MM compared to consensus of $7.1 MM. Royalty payments from the sale of VIMOVO came in at $5.4 MM. driven by a significant increase in US sales by Horizon Pharma (HZNP, $9.49, Not Rated). The Company also recognized $2.0 MM in deferred revenue associated with the upfront licensing payment for PA from Sanofi (SNY, $52.50, Not Rated). Operating expense was $4.4 MM compared to $5.7 MM a year ago. The result was net income of $3.0 MM or EPS of $0.09, which was above consensus of $0.07.”
Separately, analysts at TheStreet upgraded shares of POZEN from a “sell” rating to a “hold” rating in a research note on Monday, May 12th.
In other POZEN news, CEO John R. Plachetka sold 50,000 shares of the stock on the open market in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $7.34, for a total transaction of $367,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
POZEN (NASDAQ:POZN) traded up 9.65% on Friday, hitting $8.18. 429,983 shares of the company’s stock traded hands. POZEN has a 52-week low of $4.92 and a 52-week high of $9.90. The stock has a 50-day moving average of $8.20 and a 200-day moving average of $8.34. The company’s market cap is $253.8 million.
POZEN (NASDAQ:POZN) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.07 by $0.02. The company had revenue of $7.40 million for the quarter, compared to the consensus estimate of $7.10 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was up 335.3% on a year-over-year basis. On average, analysts predict that POZEN will post $0.68 earnings per share for the current fiscal year.
POZEN Inc (NASDAQ:POZN), is a pharmaceutical company focused on transforming medicine.
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