Pharmacyclics (PCYC) Likely to See Upside Near-Term, Says RBC

RBC Capital maintained a Sector Perform rating on Pharmacyclics (NASDAQ: PCYC) and raised its price target to $130.00 (from $118.00). The change follows updated guidance.

Analyst Michael J. Yee said, "PCYC had a pullback of -12% in the last month on fears of a risky Q4 based on IMS scripts which have been 95% accurate. But PCYC surprised investors with a strong beat and big 2015 guidance and we think stock will open strong and may revisit its recent $140 level, and depending how scripts look for the near term, may go back to its highs of $150."

"We raise our PT to $130 to account for higher sales in our model and higher run rate going forward, and greater visibility, optionality in the long term," he added.

For an analyst ratings summary and ratings history on Pharmacyclics click here. For more ratings news on Pharmacyclics click here.

Shares of Pharmacyclics closed at $123.71 yesterday.

You May Also Be Interested In

• Bicara Therapeutics Inc (BCAX) PT Raised to $39 at BTIG
• Upwork Inc. (UPWK) PT Lowered to $8 at RBC Capital
• William Blair Downgrades On Holding AG (ONON) to Market Perform