Forest Laboratories (NYSE: FRX) was the recipient of a ratings changes during the seven days:

  • Forest Laboratories had its “equalweight” rating reaffirmed by analysts at Barclays Capital. They now have a $33.00 price target on the stock.
  • Forest Laboratories had its “hold” rating reaffirmed by analysts at – Needham.
  • Forest Laboratories had its “hold” rating reaffirmed by analysts at – Needham.
  • Forest Laboratories ‘s EPS estimates were cut by analysts at Morgan Stanley. They now have an “equal weight” rating and a $35.00 price target on the stock.
  • Forest Laboratories had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $36.00 price target on the stock. Zacks‘ analyst wrote, “Forest is facing tough times with Lexapro losing patent protection. Second quarter fiscal 2013 EPS of $0.08 was well below the year-earlier EPS of $0.91. Revenues declined 34.9% to $761 million, missing the Zacks Consensus Estimate of $779 million. Forest cut its fiscal 2013 outlook again following the release of second quarter results. More than Lexapro’s genericization, the cut in Namenda’s guidance is disappointing as Namenda is currently the main contributor to the company’s top line. Moreover, the performance of new products especially Teflaro, has been below expectations. Our estimates are down based on reduced expectations from Namenda. However, we remain encouraged by the company’s progress with its pipeline candidates. We maintain a Neutral recommendation on the stock.”

Forest Laboratories, Inc. opened at 34.17 on Monday. Forest Laboratories, Inc. has a 52-week low of $28.47 and a 52-week high of $37.70. The company has a market cap of $9.079 billion and a price-to-earnings ratio of 16.98.

Forest Laboratories, Inc. (Forest) develops, manufactures and sells branded forms of ethical drug products, most of which requires a physician’s prescription.