"We see Par as well positioned to expand upon its relatively niche position in a very healthy US generic market with the recent Anchen and Edict acquisitions," JPMorgan analysts wrote in a March 16 report. "Unlike some of its larger competitors, Par has ample opportunity, we believe, to profitably expand its US generic market share through its current product pipeline and targeted acquisitions. That said, we see growth prospects for the combined Par business in line with our generic coverage universe and a fairly balanced risk/reward for PRX shares at current levels (roughly 10x 2012E EPS)."Shares of Par Pharmaceutical hit a 52-week high Friday of $39.42. The stock's 52-week low of $24.85 was st on Sept. 22. Par Pharmaceutical's forward P/E is 10.07; the average for pharmaceutical companies is 22.22. For comparison, Medicis Pharmaceutical (MRX) and Vivus (VVUS) both have higher forward P/Es of 12.13 and 48.24, respectively. Eight of the 12 analysts who cover Par Pharmaceutical rated it buy. Four analysts gave the stock a hold rating. TheStreet Ratings gives Par Pharmaceutical a B grade with a buy rating and a $42.43 price target. The stock has risen 19.16% year to date. -- Written by Alexandra Zendrian
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