The stock of Taro Pharmaceutical Industries Ltd. (NYSE:TARO) hit a new 52-week low and has $91.96 target or 9.00% below today’s $101.05 share price. The 5 months bearish chart indicates high risk for the $4.36B company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $91.96 price target is reached, the company will be worth $392.40M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 1.44% or $1.48 during the last trading session, hitting $101.05. About 197,682 shares traded hands. Taro Pharmaceutical Industries Ltd. (NYSE:TARO) has declined 28.43% since March 31, 2016 and is downtrending. It has underperformed by 30.95% the S&P500.
According to Zacks Investment Research, “Taro Pharmaceutical Industries is engaged in the production, research and development, and marketing of prescription and over-the-counter pharmaceutical products, with a focus on generic products. In addition to the production of finished dosage form drugs, they also synthesize the pharmaceutical chemicals used in their production. Products are sold through wholesalers, generic drug distributors, drug store chains, mass merchandisers, HMOs, food stores, pharmacies and hospitals.”
More notable recent Taro Pharmaceutical Industries Ltd. (NYSE:TARO) news were published by: Forbes.com which released: “RSI Alert: Taro Pharmaceutical Industries (TARO) Now Oversold” on August 24, 2016, also Prnewswire.com with their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” published on October 20, 2016, Businesswire.com published: “Robbins Arroyo LLP: Taro Pharmaceutical Industries Ltd. (TARO) Misled …” on October 27, 2016. More interesting news about Taro Pharmaceutical Industries Ltd. (NYSE:TARO) were released by: Prnewswire.com and their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of …” published on October 27, 2016 as well as Globenewswire.com‘s news article titled: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Taro …” with publication date: October 26, 2016.
TARO Company Profile
Taro Pharmaceutical Industries Ltd. (Taro), incorporated on June 3, 1959, is a science pharmaceutical company. The Firm develops, makes and markets prescription (Rx) and over-the-counter (OTC) pharmaceutical products, primarily in the United States, Canada and Israel. Taro also develops and makes active pharmaceutical ingredients (APIs), primarily for use in its finished dosage form products. The Company’s primary areas of focus include semi-solids formulations, such as creams and ointments, and other dosage forms, such as liquids, capsules and tablets, primarily in the dermatological and topical, cardiovascular, neuropsychiatric and anti-inflammatory therapeutic categories.
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