Patheon NV (PTHN) Cut to Strong Sell at BidaskClub
Patheon NV (NASDAQ:PTHN) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.
Several other analysts have also recently commented on PTHN. J P Morgan Chase & Co cut Patheon NV from an “overweight” rating to a “neutral” rating in a report on Thursday, June 8th. Zacks Investment Research cut Patheon NV from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Raymond James Financial, Inc. cut Patheon NV from an “outperform” rating to a “mkt perform” rating in a report on Friday, June 9th. Leerink Swann cut Patheon NV from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $31.00 to $35.00 in a report on Friday, June 9th. Finally, Evercore ISI cut Patheon NV to an “outperform” rating and set a $35.00 price target for the company. in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $34.50.
Patheon NV (NASDAQ PTHN) opened at 34.98 on Friday. Patheon NV has a 52-week low of $23.72 and a 52-week high of $35.13. The firm has a market cap of $5.08 billion and a PE ratio of 44.85. The firm has a 50-day moving average of $34.95 and a 200-day moving average of $31.84.
Patheon NV (NASDAQ:PTHN) last posted its quarterly earnings results on Thursday, June 8th. The company reported $0.20 EPS for the quarter, beating the consensus estimate 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. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities analysts anticipate that Patheon NV will post $1.14 EPS for the current year.
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Several hedge funds have recently modified their holdings of PTHN. Bank of New York Mellon Corp boosted its stake in shares of Patheon NV by 0.8% in the first quarter. Bank of New York Mellon Corp now owns 90,080 shares of the company’s stock worth $2,373,000 after buying an additional 698 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of Patheon NV by 10.5% in the second quarter. Voya Investment Management LLC now owns 13,030 shares of the company’s stock worth $454,000 after buying an additional 1,235 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Patheon NV by 25.9% in the first quarter. Alliancebernstein L.P. now owns 13,027 shares of the company’s stock worth $343,000 after buying an additional 2,678 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Patheon NV during the second quarter worth about $119,000. Finally, Forward Management LLC boosted 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 during the last quarter.
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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