Analysts expect Sun Pharmaceutical Industries Ltd.‘s scale-up of its specialty portfolio, robust franchise building in branded generics and new drug applications in the U.S. generics market to augur well for the company.
India’s largest drugmaker posted a 43% year-on-year jump in its profit for the quarter ended June, aided by a low base, beating estimates. Its revenue also increased over the year earlier, while operating profit stayed flat. Its operating profit margin narrowed 280 basis points.
Shares of Sun Pharma were trading 2.7% lower, the worst since June 17, as of 9:40 am on Monday. Of the 44 analysts tracking the company, 40 have a ‘buy’ rating, three suggest a ‘hold, and one recommends a ‘sell’, according to Bloomberg data. The 12-month consensus price target implies an upside of 13.1%.
Here’s what brokerages have to say about Sun Pharma’s Q1 results: