Equities researchers at HC Wainwright assumed coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $124.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 21.54% from the company’s previous close.
Taro Pharmaceutical Industries (TARO) traded up $1.84 during mid-day trading on Monday, reaching $102.02. 83,401 shares of the company’s stock were exchanged, compared to its average volume of 93,075. Taro Pharmaceutical Industries has a 52 week low of $93.01 and a 52 week high of $128.46. The stock has a market capitalization of $4,017.42, a price-to-earnings ratio of 19.81 and a beta of 0.64.
Hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN lifted its stake in Taro Pharmaceutical Industries by 11.2% during the second quarter. Wells Fargo & Company MN now owns 1,685 shares of the company’s stock valued at $189,000 after buying an additional 170 shares in the last quarter. ARK Investment Management LLC purchased a new stake in Taro Pharmaceutical Industries during the fourth quarter valued at about $247,000. Scotia Capital Inc. purchased a new stake in Taro Pharmaceutical Industries during the fourth quarter valued at about $265,000. Parametrica Management Ltd purchased a new stake in Taro Pharmaceutical Industries during the fourth quarter valued at about $306,000. Finally, Tower Research Capital LLC TRC lifted its stake in Taro Pharmaceutical Industries by 176.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,995 shares of the company’s stock valued at $314,000 after buying an additional 1,913 shares in the last quarter. 12.26% of the stock is owned by institutional investors.
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Taro Pharmaceutical Industries Ltd. (Taro) is a science-based pharmaceutical company. The Company operates principally through three entities: Taro Pharmaceutical Industries Ltd. (Taro Israel), and two of its subsidiaries, Taro Pharmaceuticals Inc (Taro Canada) and Taro U.SA The Company markets over 200 pharmaceutical products in over 25 countries.
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