Evercore ISI Lowers Patheon NV (PTHN) to Outperform

Evercore ISI lowered shares of Patheon NV (NASDAQ:PTHN) to an outperform rating in a research report report published on Monday, May 15th. The firm currently has $35.00 target price on the stock.

Several other equities research analysts have also commented on the stock. William Blair lowered shares of Patheon NV from an outperform rating to a market perform rating in a report on Monday, May 15th. Piper Jaffray Companies cut shares of Patheon NV from an overweight rating to a neutral rating in a research note on Monday, May 15th. Zacks Investment Research cut shares of Patheon NV from a hold rating to a strong sell rating in a research note on Wednesday, March 22nd. Jefferies Group LLC reaffirmed a buy rating and set a $32.00 target price (down previously from $33.00) on shares of Patheon NV in a research note on Friday, March 17th. Finally, Robert W. Baird cut shares of Patheon NV from an outperform rating to a neutral rating and lowered their target price for the stock from $34.00 to $28.00 in a research note on Friday, March 17th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Patheon NV presently has a consensus rating of Hold and a consensus target price of $33.05.

Shares of Patheon NV (NASDAQ PTHN) traded up 0.06% during trading on Monday, hitting $34.84. 292,966 shares of the company were exchanged. The firm’s 50-day moving average price is $32.21 and its 200 day moving average price is $29.30. The firm has a market capitalization of $5.06 billion and a PE ratio of 44.67. Patheon NV has a 12 month low of $23.72 and a 12 month high of $35.10.

Patheon NV (NASDAQ:PTHN) last issued its quarterly earnings results on Thursday, June 8th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The company 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% on a year-over-year basis. On average, equities research analysts expect that Patheon NV will post $1.14 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in shares of Patheon NV by 48.4% in the first quarter. Goldman Sachs Group Inc. now owns 100,293 shares of the company’s stock valued at $2,642,000 after buying an additional 32,718 shares during the last quarter. Redmile Group LLC raised its stake in shares of Patheon NV by 87.6% in the first quarter. Redmile Group LLC now owns 826,843 shares of the company’s stock valued at $21,779,000 after buying an additional 386,123 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Patheon NV during the first quarter valued at about $3,437,000. Citadel Advisors LLC raised its stake in shares of Patheon NV by 20.8% in the first quarter. Citadel Advisors LLC now owns 434,403 shares of the company’s stock valued at $11,442,000 after buying an additional 74,912 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Patheon NV by 12.6% in the first quarter. Lazard Asset Management LLC now owns 111,575 shares of the company’s stock valued at $2,938,000 after buying an additional 12,475 shares during the period.

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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