WuXi PharmaTech (Cayman) Inc (ADR) (NYSE:WX) reported on Monday that profit in the second-quarter moved up 9.9% as the drug-research contractor continued to announce broad-based revenue growth, mainly from its China operations.
WuXi boosted its revenue guidance for the full year, presently seeing $488 million to $498 million, from its prior forecasts of $468 million to $488 million.
The company estimates revenue of $121 million to $124 million for the present quarter, surpassing the $120 million median forecasts of analysts surveyed by Thomson Reuters.
WuXi announced a profit of $20.5 million or 28 cents an American depositary share in the most recent quarter, high from $18.7 million or 25 cents an ADS in previous year. Earnings without stock-based compensation and other items moved up to 33 cents from 29 cents. Analysts anticipated earnings of 32 cents an ADS.
The company reported that revenue moved up 29% to $130.4 million.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. ShangPharma Corp (ADR) (NYSE:SHP) rose +1.42% to settle at $7.87, Covance Inc (NYSE:CVD) moved down -0.83% to end at $48.74 while Charles River Laboratories (NYSE:CRL) decreased -0.94% to finish on Monday at $36.73.
WuXi PharmaTech (Cayman) Inc (ADR) (NYSE:WX) on Aug 13, 2012 increased +1.45% to the closing price of $14.72. The overall volume in the last trading session was 176,632.00 shares. Its fifty two week range was $10.65-$15.60. The total market capitalization remained $1.05 billion.
WX is ahead its 52 week low with +38.22% and lagging behind its 52 week high price with -5.64%. WX last month stock price volatility remained 2.68%. In its share capital WX has 71.79 million outstanding shares among them 71.49 million shares have been floated in market exchange. WX stock institutional ownership remained 79.08% while insider ownership included 6.78%.
The stock price of WX is moving forward from its 20 days moving average with +6.40% and remote positively from 50 days moving average with +4.93%. WX current year earnings per share experienced a downfall of -11.71% while its current quarter performance remained -1.87%. Company’s beta coefficient included 1.75. Beta factors measures the amount of market risk associated with market trade.
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