In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Perrigo Company plc (NYSE: PRGO), with a price target of $107. The company’s shares opened today at $75.35.
Chen noted:
“. On 5/11/18, PRGO disclosed in a press release that it no longer expected to meet its goal of launching a generic version of ProAir in 4Q18. Therefore, we are removing $45MM of sales, $15MM of operating income and $0.09 of EPS from our Rx segment estimates for 2018. Our 2018 EPS estimate drops to $4.98 from $5.07. This adjustment does not change our OW rating and our $107 12- month PT for PRGO’s stock.”
According to TipRanks.com, Chen is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.2% and a 44.0% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Paratek Pharmaceuticals, and Spero Therapeutics Inc.
Perrigo Company plc has an analyst consensus of Moderate Buy, with a price target consensus of $93.17.
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Based on Perrigo Company plc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $80.8 million. In comparison, last year the company had a net profit of $71.6 million.
Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PRGO in relation to earlier this year.
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Perrigo Co. Plc is a healthcare company, which engages in the production of over-the-counter consumer goods and specialty pharmaceutical products. It operates through the following segments: Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals.
