Patheon NV’s (PTHN) Lock-Up Period Set To End on January 17th
Patheon NV’s (NASDAQ:PTHN) lock-up period is set to expire on Tuesday, January 17th. Patheon NV had issued 29,761,905 shares in its public offering on July 21st. The total size of the offering was $625,000,005 based on an initial share price of $21.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Several research analysts recently weighed in on PTHN shares. Jefferies Group reaffirmed a “buy” rating on shares of Patheon NV in a report on Wednesday, December 21st. Leerink Swann started coverage on shares of Patheon NV in a report on Thursday, November 10th. They issued an “outperform” rating and a $31.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Patheon NV from a “hold” rating to a “sell” rating in a report on Friday, December 9th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $31.80.
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Patheon NV (NASDAQ:PTHN) opened at 28.42 on Friday. Patheon NV has a 12-month low of $24.11 and a 12-month high of $31.02. The firm’s 50 day moving average is $27.90 and its 200 day moving average is $27.61. The company has a market cap of $4.12 billion and a P/E ratio of 111.45.
Patheon NV (NASDAQ:PTHN) last issued its earnings results on Tuesday, December 20th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.09. The company had revenue of $510 million for the quarter. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that Patheon NV will post $1.41 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. KCG Holdings Inc. acquired a new position in shares of Patheon NV during the third quarter valued at about $232,000. SG Americas Securities LLC acquired a new position in shares of Patheon NV during the third quarter valued at about $245,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Patheon NV during the third quarter valued at about $276,000. Monashee Investment Management LLC acquired a new position in shares of Patheon NV during the third quarter valued at about $297,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Patheon NV during the third quarter valued at about $305,000.
About Patheon NV
Patheon N.V. is a provider of outsourced pharmaceutical development and manufacturing services. The Company’s segments are Drug Product Services (DPS), Pharmaceutical Development Services (PDS) and Drug Substance Services (DSS). The DPS segment provides manufacturing and packaging for approved prescription, over the counter and nutritional products.
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