Taro Pharma (TARO) Gets a Buy Rating from H.C. Wainwright


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Taro Pharma (TARO) today and set a price target of $115. The company’s shares closed on Friday at $101.11.

Selvaraju noted:

“Valuation methodology, risks and uncertainties. We ascribe a price objective of $115 per share, based on a forward EPS multiple of 15.5x applied to our current fiscal 2019 EPS forecast of $7.40 per share.”

According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -14.0% and a 19.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

Currently, the analyst consensus on Taro Pharma is a Moderate Buy with an average price target of $120.

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Based on Taro Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $62.56 million. In comparison, last year the company had a net profit of $52.39 million.

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Taro Pharmaceutical Industries Ltd. engages in the development, manufacturing, and marketing of prescribed and over-the-counter pharmaceutical products in the U.S., Canada, and Israel. Its products include semi-solids formulations, such as creams and ointments and other dosage forms such as liquids, capsules and tablets, in the dermatological and topical, cardiovascular, neuropsychiatric, and anti-inflammatory therapeutic categories. The company was founded in 1950 and is headquartered in Haifa Bay, Israel.

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