Taro Pharmaceutical Industries (NYSE:TARO) Lowered to “Sell” at Zacks Investment Research

Taro Pharmaceutical Industries (NYSE:TARO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “Taro Pharmaceutical Industries is engaged in the production, research and development, and marketing of prescription and over-the-counter pharmaceutical products, with a focus on generic products. In addition to the production of finished dosage form drugs, they also synthesize the pharmaceutical chemicals used in their production. Products are sold through wholesalers, generic drug distributors, drug store chains, mass merchandisers, HMOs, food stores, pharmacies and hospitals. “

TARO has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price (up previously from $105.00) on shares of Taro Pharmaceutical Industries in a report on Tuesday, November 5th. ValuEngine raised shares of Taro Pharmaceutical Industries from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

NYSE TARO traded up $0.56 on Friday, hitting $76.85. The company had a trading volume of 42,316 shares, compared to its average volume of 61,502. The company has a market capitalization of $2.98 billion, a PE ratio of 10.63 and a beta of 0.43. The company’s fifty day moving average price is $77.32 and its 200-day moving average price is $85.84. Taro Pharmaceutical Industries has a 12-month low of $72.97 and a 12-month high of $109.42.

Taro Pharmaceutical Industries (NYSE:TARO) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.46 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.26). Taro Pharmaceutical Industries had a return on equity of 14.13% and a net margin of 40.43%. The company had revenue of $160.85 million during the quarter, compared to analysts’ expectations of $168.60 million. As a group, equities research analysts predict that Taro Pharmaceutical Industries will post 6.45 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in TARO. Commonwealth Bank of Australia boosted its position in shares of Taro Pharmaceutical Industries by 62.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,300 shares of the company’s stock valued at $111,000 after acquiring an additional 500 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Taro Pharmaceutical Industries during the 2nd quarter valued at about $290,000. Tower Research Capital LLC TRC boosted its position in shares of Taro Pharmaceutical Industries by 500.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,810 shares of the company’s stock valued at $325,000 after acquiring an additional 3,176 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Taro Pharmaceutical Industries during the 2nd quarter valued at about $337,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Taro Pharmaceutical Industries by 61.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,083 shares of the company’s stock valued at $349,000 after acquiring an additional 1,556 shares during the last quarter. 10.13% of the stock is owned by institutional investors and hedge funds.

Taro Pharmaceutical Industries Company Profile

Taro Pharmaceutical Industries Ltd., a science-based pharmaceutical company, engages in the development, manufacture, and marketing of pharmaceutical products in the United States, Canada, Israel, and internationally. It offers prescription and over-the-counter pharmaceutical products focusing on primary areas, including topical creams and ointments, liquids, capsules, and tablets in the dermatological and topical, cardiovascular, neuropsychiatric, and anti-inflammatory therapeutic categories.

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