Piper Jaffray Reiterates Par Pharmaceutical Overweight, $49 PT
Piper Jaffray reiterated its Par Pharmaceuticals (NYSE: PRX) Overweight rating and $49 price target in a research report published today.
In the report, Piper Jaffray stated, "We continue to believe PRX shares are attractive, with a deep generics pipeline, optionality on high-value opportunities (e.g., generic Focalin XR), and strong 2012 operating cash flows of near $160M in the context of a market cap of $1.3B. We reiterate our Overweight rating and $49 price target."
Shares of Par Pharmaceuticals were trading at $34.75 at the time of posting, up 2.18% from Thursday's market close.
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