Takeda Pharmaceutical (NYSE:TAK) Hits New 12-Month High on Strong Earnings

Takeda Pharmaceutical Co. (NYSE:TAK) hit a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $21.22 and last traded at $20.8980, with a volume of 390,933 shares changing hands. The stock had previously closed at $20.01.

The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.37. The company had revenue of $7.53 billion during the quarter, compared to analyst estimates of $7.34 billion. Takeda Pharmaceutical had a net margin of 3.80% and a return on equity of 10.95%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TAK shares. Wall Street Zen raised Takeda Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings raised shares of Takeda Pharmaceutical from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Zacks Research cut shares of Takeda Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 1st. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Takeda Pharmaceutical presently has an average rating of “Moderate Buy”.

Insiders Place Their Bets

In related news, insider Giles Platford sold 31,083 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $17.10, for a total value of $531,519.30. Following the completion of the transaction, the insider owned 315,838 shares in the company, valued at $5,400,829.80. This trade represents a 8.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Julie Kim sold 89,090 shares of Takeda Pharmaceutical stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $17.10, for a total value of $1,523,439.00. Following the completion of the transaction, the chief executive officer directly owned 391,489 shares in the company, valued at $6,694,461.90. This represents a 18.54% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 627,457 shares of company stock worth $10,981,175 over the last three months. Company insiders own 0.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Trek Financial LLC lifted its position in shares of Takeda Pharmaceutical by 3.2% in the 3rd quarter. Trek Financial LLC now owns 16,317 shares of the company’s stock valued at $297,000 after acquiring an additional 501 shares in the last quarter. Vise Technologies Inc. raised its position in Takeda Pharmaceutical by 52.5% during the third quarter. Vise Technologies Inc. now owns 180,092 shares of the company’s stock valued at $3,276,000 after buying an additional 61,968 shares during the period. Summit Global Investments lifted its stake in Takeda Pharmaceutical by 0.7% in the 3rd quarter. Summit Global Investments now owns 89,766 shares of the company’s stock worth $1,633,000 after acquiring an additional 593 shares in the last quarter. Choreo LLC boosted its position in Takeda Pharmaceutical by 11.8% during the 3rd quarter. Choreo LLC now owns 46,926 shares of the company’s stock worth $854,000 after acquiring an additional 4,969 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its stake in Takeda Pharmaceutical by 9.9% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 7,881 shares of the company’s stock valued at $143,000 after acquiring an additional 711 shares in the last quarter. 9.17% of the stock is owned by hedge funds and other institutional investors.

Takeda Pharmaceutical Stock Up 4.4%

The company has a market cap of $66.95 billion, a price-to-earnings ratio of 61.43 and a beta of -0.07. The company has a current ratio of 1.14, a quick ratio of 0.62 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average price of $18.79 and a two-hundred day moving average price of $17.52.

Takeda Pharmaceutical Company Profile

Takeda Pharmaceutical Company Limited is a global biopharmaceutical company headquartered in Tokyo, Japan. The company researches, develops, manufactures and commercializes medicines for patients worldwide, with a focus on areas of significant unmet medical need. Its principal therapeutic areas include gastroenterology, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines.

Takeda’s portfolio includes treatments such as Entyvio for inflammatory bowel disease, Takhzyro for hereditary angioedema, and medicines for certain blood cancers and rare conditions.