Taro Pharmaceutical Industries (NYSE:TARO) Sees Unusually-High Trading Volume

Taro Pharmaceutical Industries Ltd. (NYSE:TARO – Get Rating) saw an uptick in trading volume on Friday . 71,500 shares changed hands during mid-day trading, an increase of 339% from the previous session’s volume of 16,275 shares.The stock last traded at $29.49 and had previously closed at $28.98.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TARO. StockNews.com downgraded Taro Pharmaceutical Industries from a “buy” rating to a “hold” rating in a report on Saturday. HC Wainwright lowered their price target on Taro Pharmaceutical Industries from $54.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 25th.

Taro Pharmaceutical Industries Stock Performance

The stock has a 50 day simple moving average of $26.12 and a two-hundred day simple moving average of $28.45. The firm has a market cap of $1.11 billion, a PE ratio of 24.17 and a beta of 0.64.

Hedge Funds Weigh In On Taro Pharmaceutical Industries

Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its stake in shares of Taro Pharmaceutical Industries by 5.3% in the 4th quarter. Legal & General Group Plc now owns 6,732 shares of the company’s stock valued at $195,000 after purchasing an additional 339 shares in the last quarter. UBS Group AG lifted its stake in Taro Pharmaceutical Industries by 71.6% during the second quarter. UBS Group AG now owns 925 shares of the company’s stock worth $34,000 after purchasing an additional 386 shares in the last quarter. US Bancorp DE lifted its stake in Taro Pharmaceutical Industries by 4.4% during the first quarter. US Bancorp DE now owns 10,487 shares of the company’s stock worth $453,000 after purchasing an additional 444 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Taro Pharmaceutical Industries by 73.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,184 shares of the company’s stock worth $29,000 after purchasing an additional 501 shares in the last quarter. Finally, State Street Corp increased its position in shares of Taro Pharmaceutical Industries by 1.4% during the second quarter. State Street Corp now owns 51,182 shares of the company’s stock worth $1,851,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 11.45% of the company’s stock.

About Taro Pharmaceutical Industries

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Taro Pharmaceutical Industries Ltd. engages in the development, manufacturing and marketing of prescribed and over-the-counter pharmaceutical products in the U.S., Canada and Israel. Its products include semi-solids formulations, such as creams and ointments and other dosage forms such as liquids, capsules and tablets, in the dermatological and topical, cardiovascular, neuropsychiatric and anti-inflammatory therapeutic categories.