WuXi PharmaTech Trading 8.7% Higher After Better-Than-Expected Earnings (WX)
Shares of WuXi PharmaTech (NYSE:WX) traded up 8.7% on Thursday after the company announced better than expected quarterly earnings, AnalystRatings.NET reports. The company traded as high as $35.00 and last traded at $35.00, with a volume of 421,577 shares trading hands. The stock had previously closed at $32.21.
The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.47 by $0.02. The company had revenue of $163.40 million for the quarter, compared to the consensus estimate of $162.11 million.
Separately, analysts at Zacks upgraded shares of WuXi PharmaTech from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 16th. They now have a $33.50 price target on the stock. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. WuXi PharmaTech presently has a consensus rating of “Buy” and a consensus price target of $37.90.
The stock has a 50-day moving average of $32.6 and a 200-day moving average of $34.63. The company has a market cap of $2.499 billion and a P/E ratio of 21.22.
WuXi PharmaTech (NYSE:WX) Inc, (WuXi) is a pharmaceutical, biotechnology and medical device research and development (R&D) outsourcing company, with operations in People’s Republic of China and the United States.
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