Brokerages Set Patheon NV (NASDAQ:PTHN) PT at $32.25
Shares of Patheon NV (NASDAQ:PTHN) have been given an average recommendation of “Hold” by the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $32.25.
A number of research analysts recently weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $35.00 target price on shares of Patheon NV in a report on Friday, July 21st. Zacks Investment Research lowered shares of Patheon NV from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Leerink Swann lowered shares of Patheon NV from an “outperform” rating to a “market perform” rating and raised their target price for the company from $31.00 to $35.00 in a report on Friday, June 9th. Raymond James Financial, Inc. lowered shares of Patheon NV from an “outperform” rating to a “mkt perform” rating in a report on Friday, June 9th. Finally, J P Morgan Chase & Co lowered shares of Patheon NV from an “overweight” rating to a “neutral” rating in a report on Thursday, June 8th.
Shares of Patheon NV (PTHN) traded down 0.06% during midday trading on Friday, hitting $34.93. 47,576 shares of the stock were exchanged. The firm’s 50-day moving average is $34.87 and its 200 day moving average is $30.87. The firm has a market cap of $5.07 billion and a PE ratio of 44.78. Patheon NV has a 52-week low of $23.72 and a 52-week high of $35.10.
Patheon NV (NASDAQ:PTHN) last posted its earnings results on Thursday, June 8th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $483.40 million during the quarter, compared to analysts’ expectations of $466.08 million. Patheon NV’s revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Patheon NV will post $1.14 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Patheon NV during the second quarter worth about $119,000. Quantbot Technologies LP bought a new stake in shares of Patheon NV during the first quarter worth about $185,000. AQR Capital Management LLC bought a new stake in shares of Patheon NV during the fourth quarter worth about $220,000. Forward Management LLC increased its stake in shares of Patheon NV by 67.4% in the first quarter. Forward Management LLC now owns 8,714 shares of the company’s stock worth $230,000 after buying an additional 3,509 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Patheon NV during the fourth quarter worth about $232,000.
Patheon NV Company Profile
Patheon N.V. is a provider of outsourced pharmaceutical development and manufacturing services. The Company’s segments include Drug Product Services (DPS), Pharmaceutical Development Services (PDS) and Drug Substance Services (DSS). The DPS segment is engaged in manufacturing and packaging for approved prescription, over-the-counter (OTC) and nutritional products.
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