Watson Pharmaceuticals: S&P Gainer
NEW YORK (TheStreet) - Watson Pharmaceuticals (WPI) was among the best performers in the S&P 500 on Thursday.
The S&P 500 fell 10.11 points, or 0.72%, on Thursday to close at 1,392.78. It was the index's third straight down day, and its first finish below 1400 in five sessions.
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Shares of Watson rose 3.78% to $66.10. The company is reportedly in talks to acquire Swiss generic drug manufacturer Actavis.
Watson was also the top performer in the S&P 500 on Wednesday; it gained 8.82% that day.
Watson shares trade at an estimated price-to-earnings ratio of 10.81X; the average for pharmaceutical companies is 36.08X. For comparison, Mylan (MYL) has a lower forward P/E of 8.63X; Perrigo's (PRGO) forward P/E is 19.04X. Eighteen of the 25 analysts who cover Watson rated it buy; seven analysts gave the stock a hold rating. TheStreet Ratings gives Watson a B+ grade with a buy rating and a $76.90 price target. The stock has risen 9.55% year to date.Select the service that is right for you!
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