Leerink Partners Raises Price Target on Diplomat Pharmacy (DPLO) to $36 Following 1Q Beat

Leerink Partners reiterated an Outperform rating on Diplomat Pharmacy (NYSE: DPLO), and raised the price target to $36.00 (from $35.00), following the company's 1Q earnings report. DPLO reported total revenue of $996M, well ahead of consensus of $982.8M. The company also had a strong EPS beat, with adjusted EPS of $0.23 well ahead of consensus' $0.18 estimate.

Analyst David Larsen commented, "Overall DPLO is growing well above the specialty pharmacy market rate, with 1Q:16 organic growth of 36% y/y. While 2016 guidance was increased only to account for the TNH acquisition, we believe management remains conservative. We remain positive on DPLO which is well positioned to capitalize on a robust specialty pipeline, and we believe DPLO will continue to act as a specialty pharmacy consolidation platform. We increase our estimates 2016 and 2017 estimates to account from TNH, and the strong 1Q:16 results. PT to $36."

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

Shares of Diplomat Pharmacy closed at $29.34 yesterday.

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