Market Overview

Oppenheimer Reiterates Outperform Rating, $22 PT for WuXi PharmaTech

Share:
Related WX
Top 4 Mid-Cap Stocks In The Medical Laboratories & Research Industry With The Lowest PEG Ratio
WuXi PharmaTech Subsidiary Submits Application To The National Equities Exchange And Quotations In China to List On The New Third Board
WUXI PHARMATECH (Investor's Business Daily)

In a company update published earlier today, Oppenheimer Holdings reiterated its Outperform rating and $22.00 price target for WuXi PharmaTech Inc. (NYSE: WX).

Oppenheimer went on to say “Consistent with the bullish industry view we hold based on a recent survey (see our CRO industry note published on 5/10: Pharma/Biotech Companies Jumped on the Bandwagon to Asia), WX printed 1Q with impressive revenue growth of 26.2% to $118M, beating our Street-high estimate of $115.5M. Gross margin of 35.5% (-159 qoq/372bps yoy) was in line with our expectation. Operating income grew 4%, due to lower GM and higher SG&A expenses, as WX added senior staff members. GAAP EPS of $0.28 also beat our Street-high estimate of $0.27. WX's guidance of 2Q12 revenue of $124-129M (+23-28% yoy) is above consensus of $118M (+17%). Operating margin guidance suggests potential for better margin in 2H12. Management sees biologics as a growth driver for the next 2-3 years.”

WuXi PharmaTech Inc. closed yesterday at $13.41.

Latest Ratings for WX

DateFirmActionFromTo
Nov 2014JefferiesDowngradesBuyHold
Oct 2013JefferiesMaintainsBuy
Aug 2013JefferiesMaintainsBuy

View More Analyst Ratings for WX
View the Latest Analyst Ratings

Posted-In: Oppenheimer HoldingsAnalyst Color Reiteration Analyst Ratings

 

Related Articles (WX)

Around the Web, We're Loving...