Equities researchers at Sterne Agee initiated coverage on shares of PAREXEL International (NASDAQ: PRXL) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
The analysts wrote, “Over the past three to five years, PRXL has successfully climbed the PIII CRO market share ladder, essentially doubling its revenue base. We believe a refocus on the U.S. marketplace as well as continued investments in Asia-Pacific regions were factors in PRXL’s success. We also believe the company has engaged in more aggressive contractual structures with large pharma companies looking to ‘transfer development risk.’ Re-initiating coverage with a Neutral rating and $44 price target.”
A number of other firms have also recently commented on PRXL. Analysts at International Strategy & Investment initiated coverage on shares of PAREXEL International in a research note to investors on Tuesday, May 21st. They set a “neutral” rating and a $50.00 price target on the stock. Separately, analysts at ISI Group initiated coverage on shares of PAREXEL International in a research note to investors on Tuesday, May 21st. They set a “neutral” rating on the stock. Finally, analysts at Zacks upgraded shares of PAREXEL International from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, May 7th. They now have a $47.00 price target on the stock.
Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $42.67.
Shares of PAREXEL International (NASDAQ: PRXL) traded down 0.32% during mid-day trading on Tuesday, hitting $46.99. PAREXEL International has a one year low of $23.75 and a one year high of $41.18. The stock’s 50-day moving average is currently $38.83. The company has a market cap of $2.671 billion and a P/E ratio of 33.70.
PAREXEL International (NASDAQ: PRXL) last released its earnings data on Tuesday, April 30th. The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.10. The company had revenue of $454.49 million for the quarter, compared to the consensus estimate of $438.10 million. During the same quarter last year, the company posted $0.33 earnings per share. PAREXEL International’s revenue was up 27.7% compared to the same quarter last year. PAREXEL International has set its Q4 guidance at $0.40-0.44 EPS. Analysts expect that PAREXEL International will post $1.64 EPS for the current fiscal year.
PAREXEL International Corporation (NASDAQ: PRXL) is a biopharmaceutical services company, providing a range of expertise in clinical research, medical communications, consulting, and advanced technology products and services to the worldwide pharmaceutical, biotechnology, and medical device industries.