WuXi PharmaTech Price Target Raised to $28.00 at Oppenheimer (WX)

Research analysts at Oppenheimer lifted their target price on shares of WuXi PharmaTech (NYSE:WX) from $25.00 to $28.00 in a report released on Tuesday, American Banking News reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 17.85% from the stock’s previous close.

The analysts wrote, “WX’s performance beat expectations again in 2Q13. Revenue beat OPCO/consensus estimates, driven by robust China lab services. EPS beat our estimate by six cents. EPS were boosted by higher other income and one-time tax benefits. Increased productivity and ramping up of biologics and preclinical services improved GM by 70bps yoy to 36.4%. Operating margin is very stable, even though there is an increase in operating expenses. WX raised FY13 as well as 3Q13 guidance on both revenue and EPS. WX told us that there are nine manufacturing candidates in Phase III now, and two will be Incivek-sized opportunities. We believe growth opportunities for 2H13 and 2014 abound and are raising our PT from $25 to $28.”

Separately, analysts at Zacks downgraded shares of WuXi PharmaTech from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, June 6th. They now have a $22.40 price target on the stock.

Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $22.66.

WuXi PharmaTech (NYSE:WX) traded up 2.50% on Tuesday, hitting $24.355. WuXi PharmaTech has a 1-year low of $13.50 and a 1-year high of $23.88. The stock’s 50-day moving average is currently $21.28. The company has a market cap of $1.725 billion and a price-to-earnings ratio of 19.82.

WuXi PharmaTech (NYSE:WX) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.07. The company had revenue of $142.33 million for the quarter, compared to the consensus estimate of $141.10 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Analysts expect that WuXi PharmaTech will post $1.53 EPS for the current fiscal year.

WuXi PharmaTech (NYSE:WX) Inc, (WuXi) is a pharmaceutical, biotechnology and medical device research and development (R&D) outsourcing company, with operations in People’s Republic of China and the United States.

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