StockNews.com Begins Coverage on Taro Pharmaceutical Industries (NYSE:TARO)

Equities researchers at StockNews.com assumed coverage on shares of Taro Pharmaceutical Industries (NYSE:TARO) in a research note issued on Friday. The brokerage set a “strong-buy” rating on the stock.

Separately, HC Wainwright cut shares of Taro Pharmaceutical Industries from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Thursday, January 18th.

Taro Pharmaceutical Industries Stock Up 0.0 %

Shares of TARO opened at $42.25 on Friday. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 34.63 and a beta of 0.61. Taro Pharmaceutical Industries has a twelve month low of $24.22 and a twelve month high of $45.76. The company has a 50 day moving average of $42.13 and a two-hundred day moving average of $39.78.

Taro Pharmaceutical Industries (NYSE:TARO) last announced its earnings results on Thursday, January 25th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.26. The company had revenue of $157.15 million during the quarter, compared to the consensus estimate of $154.90 million. Taro Pharmaceutical Industries had a net margin of 7.48% and a return on equity of 3.26%. On average, sell-side analysts expect that Taro Pharmaceutical Industries will post 1.38 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TARO. Ameritas Investment Partners Inc. purchased a new position in shares of Taro Pharmaceutical Industries during the second quarter worth $26,000. UBS Group AG raised its holdings in shares of Taro Pharmaceutical Industries by 71.6% during the second quarter. UBS Group AG now owns 925 shares of the company’s stock worth $34,000 after purchasing an additional 386 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Taro Pharmaceutical Industries by 126.5% during the first quarter. Bank of America Corp DE now owns 1,506 shares of the company’s stock worth $37,000 after purchasing an additional 841 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Taro Pharmaceutical Industries by 664.0% during the second quarter. Royal Bank of Canada now owns 1,039 shares of the company’s stock worth $39,000 after purchasing an additional 903 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Taro Pharmaceutical Industries by 5,988.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,035 shares of the company’s stock worth $39,000 after purchasing an additional 1,018 shares during the last quarter. Hedge funds and other institutional investors own 91.40% of the company’s stock.

About Taro Pharmaceutical Industries

Taro Pharmaceutical Industries Ltd., a science-based pharmaceutical company, develops, manufactures, and markets prescription and over-the-counter pharmaceutical products in the United States, Canada, Israel, and internationally. The company also develops and manufactures active pharmaceutical ingredients primarily for use in its finished dosage form products.