October 22, 2020

Kassirer Asset Management purchases new position in WuXi PharmaTech (Cayman) Inc. (WX)

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wuxi-pharmatech-logoFrom American Banking News

WuXi PharmaTech (Cayman) logoKassirer Asset Management purchased a new position in shares of WuXi PharmaTech (Cayman) Inc. (NYSE:WX) during the third quarter, according to its most recent Form 13F filing with the SEC. The hedge fund purchased 35,000 shares of the company’s stock, valued at approximately $1,513,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Saturna Capital bought a new stake in WuXi PharmaTech (Cayman) during the third quarter worth about $531,000. Jennison Associates raised its stake in WuXi PharmaTech (Cayman) by 3.8% in the third quarter. Jennison Associates now owns 1,644,155 shares of the company’s stock worth $71,044,000 after buying an additional 59,956 shares during the last quarter.

WuXi PharmaTech (Cayman) (NYSE:WX) last posted its earnings results on Tuesday, November 3rd. The company reported $0.31 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.31. The business earned $213.60 million during the quarter, compared to the consensus estimate of $205.24 million. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 EPS.

A number of analysts recently issued reports on WX shares. William Blair reiterated a “buy” rating on shares of WuXi PharmaTech (Cayman) in a research note on Friday, August 14th. Zacks Investment Research upgraded WuXi PharmaTech (Cayman) from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 14th. Finally, Morgan Stanley lowered WuXi PharmaTech (Cayman) from an “overweight” rating to an “equal weight” rating in a research note on Monday, October 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.83.

WuXi PharmaTech (NYSE:WX) Inc. is a pharmaceutical, biotechnology and medical device research and development (R&D) services company, with operations in China and the United States. The Company provides a portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process to its customers. It conducts its operations in two segments: Laboratory services and Manufacturing services. The Company offers Laboratory services for pharmaceutical, biotechnology and medical device companies. It offers Manufacturing services, which include the development of manufacturing processes and the production of advanced intermediates and active pharmaceutical ingredients (APIs) for use by pharmaceutical companies in preclinical and clinical trials of small-molecule products and in commercial products, as well as the production of biologic products.

For more on this story go to: http://www.americanbankingnews.com/2015/12/12/kassirer-asset-management-purchases-new-position-in-wuxi-pharmatech-cayman-inc-wx/

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