Taro Pharma Gets a Buy Rating from H.C. Wainwright

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Taro Pharma (NYSE: TARO), with a price target of $130. The company’s shares closed yesterday at $111.97.

Selvaraju noted:

“We believe that the worst may now be behind the company, and that future quarters should gradually begin to show the effect of lessened pricing pressure and potential contributions from new product sales, including the introduction of Pliaglis, which was launched only a few months ago. Taro delivered full- year fiscal 2018 EPS of $5.26 vs. our forecast of $4.58. We note that Taro remains eminently well-positioned in its peer group from a strategic perspective, due to its robust cash position—the company closed fiscal 2018 with roughly $1.6B in cash, marketable securities and long-term bank deposits—and lack of long-term debt. We reiterate our Buy rating, while modestly raising our 12-month target to $130 from $124 per share on TARO.”

According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.5% and a 39.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

Taro Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $130.

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Taro Pharma’s market cap is currently $4.54B and has a P/E ratio of 21.74. The company has a Price to Book ratio of 2.06.

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Taro Pharmaceutical Industries Ltd. engages in the development, manufacturing, and marketing of prescription and over-the-counter pharmaceutical products in the U.S., Canada, and Israel. Taro’s primary areas of focus include pediatric creams and ointments, liquids, capsules and tablets, mainly for the dermatological, topical, cardiovascular, neuropsychiatric and anti-inflammatory therapeutic categories. The company was founded in 1950 and is headquartered in Haifa Bay, Israel.