ProPhase Labs (NASDAQ:PRPH) Upgraded by Zacks Investment Research to “Buy”

ProPhase Labs (NASDAQ:PRPH) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The firm currently has a $6.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.36% from the stock’s previous close.

According to Zacks, “ProPhase Labs, Inc., formerly known as The Quigley Corporation, is a manufacturer, marketer and distributor of a diversified range of homeopathic and health products that are offered to the general public. The Company’s mission is to develop and market natural health care pharmaceuticals and nutriceuticals that offer pioneering new options to improve patient treatment results. Its consumer health products, marketed through ProPhase Labs and certain subsidiaries, include the original COLD-EEZEĀ®, a zinc gluconate glycine product. COLD-EEZEĀ® family of lozenges and sugar free tablets reduce the severity and duration of the common cold. Its customers include wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies. ProPhase Labs is also engaged in the research and development of potential natural base health products along with supplements and cosmeceuticals for human and veterinary use. The Company is headquartered in Doylestown, Pennsylvania. “

Several other research analysts have also issued reports on the stock. TheStreet lowered shares of ProPhase Labs from a “c” rating to a “d+” rating in a research note on Wednesday, August 18th. Dawson James lowered shares of ProPhase Labs from a “buy” rating to a “neutral” rating in a research note on Wednesday.

Shares of NASDAQ:PRPH opened at $5.34 on Thursday. ProPhase Labs has a 12 month low of $4.41 and a 12 month high of $16.04. The company’s 50-day moving average price is $5.53 and its two-hundred day moving average price is $5.77. The company has a quick ratio of 3.06, a current ratio of 4.13 and a debt-to-equity ratio of 0.21. The firm has a market cap of $80.92 million, a P/E ratio of -26.70 and a beta of -0.19.

ProPhase Labs (NASDAQ:PRPH) last issued its earnings results on Thursday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.28). The business had revenue of $9.14 million during the quarter, compared to the consensus estimate of $14.64 million. ProPhase Labs had a negative net margin of 5.16% and a positive return on equity of 3.56%. As a group, equities analysts predict that ProPhase Labs will post 0.74 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in ProPhase Labs by 165.1% during the 2nd quarter. Millennium Management LLC now owns 46,575 shares of the company’s stock worth $289,000 after acquiring an additional 29,008 shares during the last quarter. Bank of America Corp DE bought a new position in ProPhase Labs during the 2nd quarter worth approximately $177,000. State Street Corp bought a new position in ProPhase Labs during the 2nd quarter worth approximately $86,000. Kamunting Street Capital Management L.P. boosted its stake in ProPhase Labs by 26.0% during the 2nd quarter. Kamunting Street Capital Management L.P. now owns 123,193 shares of the company’s stock worth $764,000 after acquiring an additional 25,400 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in ProPhase Labs by 26.7% during the 2nd quarter. Geode Capital Management LLC now owns 102,705 shares of the company’s stock worth $636,000 after acquiring an additional 21,622 shares during the last quarter. 10.59% of the stock is currently owned by institutional investors and hedge funds.

About ProPhase Labs

ProPhase Labs, Inc is a medical science and technology company. It engages in the research, development, manufacture, distribution, marketing, and sale of over-the-counter consumer healthcare products and dietary supplements. The firm operates through the following business segments: Diagnostic Services and Consumer Products.

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