Morgan Stanley also has overweight rating on Lupin with a target price at Rs 1,003, implying 47 percent potential upside from current levels as it believes the share price will rise in absolute terms over the next 30 days.
The company's subsidiary -- Sun Pharma (Netherlands) BV -- already had 96.96 per cent stake in pharma firm PJSC Biosintez prior to the purchase of these shares, Sun Pharma said in a filing to the BSE.
Sun Pharma, however, did not provide any specific details on the reasons for the Securities and Exchange Board of India to order the forensic audit.
Halol is a crucial facility for Sun Pharma as it contributes around 15 percent of total US sales.
ICICI Direct recommended hold rating on Sun Pharmaceutical Industries with a target price of Rs 470 in its research report dated August 14, 2019.
Sharekhan recommended Hold rating on Sun Pharmaceutical Industries with a target price of Rs 500 in its research report dated August 13, 2019.
Profit increased to Rs 1,387.5 crore in Q1, from Rs 1,057.3 crore in same period last year.
Sun Pharma didn't disclose how many employees were impacted, but sources told Moneycontrol that 85 employees have been terminated.
The company is targeting key ailments like psoriasis to gradually ramp up its global specialty business, he said adding that Sun Pharma would continue to invest in branding and promotion of its various specialty products.
Morgan Stanley upgraded Sun Pharma to overweight and raised price target to Rs 505 from Rs 470 per share
CLSA maintains buy rating on Sun Pharma with a price target at Rs 520 as stock remains attractive due to its strong India positioning
The company will submit its response on the observations to the USFDA within 15 business days, Sun Pharma said.
ICICI Direct recommended hold rating on Sun Pharmaceutical Industries with a target price of Rs 460 in its research report dated May 29, 2019.
Sharekhan recommended Hold rating on Sun Pharmaceutical Industries with a target price of Rs 460 in its research report dated May 28, 2019.
Numbers, reported on May 28 after market hours, were below analyst estimates but adjusted earnings were in line with expectations
Sun Pharmaceutical Industries said Infugem (gemcitabine in sodium chloride injection), for intravenous use, is now commercially available in the US
The US Food and Drug Administration inspected company's Baska facility, in Gujarat, during January 28 to February 5.
After the completion of this purchase of shares, the total holding of wholly-owned subsidiary was increased from 85.10 per cent to 96.96 per cent in the Russian firm, it added.
Emkay and Motilal Oswal see 17 percent year-on-year growth in bottomline while Prabhudas Lilladher expects profit to grow 137 percent and ICICI Securities expects 178 percent
Xelpros is used in the treatment for the reduction of elevated intraocular pressure (IOP, or pressure inside the eye) in patients with open-angle glaucoma or ocular hypertension.
Ajay Srivastava said he is not bullish on Sun Pharma because the structural story for the stock is not there and by and large it has been a big disappointment.