Company Update : Actavis plc (NYSE:ACT)

Actavis plc (NYSE:ACT)’ Dalvance shows positive Phase 3 results for skin infections. Actavis announced positive top-line results for study DUR001-303, a phase 3 study comparing a single 1500 mg dose of Dalvance with the same total dose given as two-doses one week apart, for the treatment of acute bacterial skin and skin structure infections caused by susceptible Gram-positive bacteria, including methicillin resistant Staphylococcus aureus. Preliminary top-line data demonstrated the 1500 mg single-dose of Dalvance achieved its primary endpoint of non-inferiority to the two-dose regimen at 48-72 hours after initiation of therapy. Actavis plans to file a supplemental New Drug Application with these data in Q3.

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The company is expected to announce next quarter earnings on May 11, at consensus estimate of $3.86. Actavis plc (ACT) reported last quarter earnings on February 18. The Generic Drugs company announced earnings per share of $3.91 against a consensus Street estimate of $3.7, beating the average estimate by $0.21. This corresponds to an increase of $0.53 compared to the same quarter of the previous fiscal year.

Actavis plc (NYSE:ACT) is currently trading 6.09% below its 52-week-high, 54.59% above its 52-week-low. The 12-months range for the stock is $193 – $317.72. Actavis plc (ACT) has a price to book ratio of 2.8 versus S&P 500 average of 2.48. ACT stock price has outperformed the S&P 500 by 13%. The Generic Drugs company is currently valued at $79.47 billion and its share price closed the last trading session at $298.36. The stock has a 50-day moving average of $299.58 and a 200-day moving average of $271.06.

Actavis plc (ACT) current short interest stands at 7.18 million shares. It has decreased by 73% from the same period of last month. Around 3% of the company’s shares, which are float, are short sold. With a 10-days average volume of 2.5 million shares, the number of days required to cover the short positions stand at 2.9 days.

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There are currently twenty-three analysts that cover ACT stock. Of those twenty-three, twenty-one have a Buy rating, two have a Hold rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $342.25.

A recent analyst activity consisted of Barclays reiterating their Equal-weight stance. Barclays increased their price target on ACT from $285 to $300. This corresponds to a 0.55% upside from the last closing price. On the date of report, the stock closed at $298.92.

Leerink Swann reiterated their Outperform stance, and increased their price target on ACT stock from $328 to $348. This corresponds to a 16.64% upside from the last closing price. On the date of report, the stock closed at $294.78.

Another research firm was Sterne Agee who reiterated their Buy stance. Sterne Agee increased their price target on Actavis plc from $315 to $340. This translates to a 13.96% upside from the last closing price. On the date of report, the stock closed at $309.13.

Company profile

Actavis plc manufactures specialty pharmaceuticals. The Company develops, manufactures and distributes generic, brand and over-the-counter products. Actavis offers its pharmaceutical drugs around the world.

Company Update : Actavis plc (NYSE:ACT) was last modified: April 24th, 2015 by Seth Talluto