Investing
Quintiles Gets Mostly Positive Analyst Coverage as Quiet Period Ends
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Quintiles Transnational Holdings Inc. (NYSE: Q) has seen its so-called analyst quiet period come to an end. The company’s IPO was close to $950 million, which had been an upsized offering at $40.00 per share. The trading has been positive as the price of Quintiles stock has never been back down at the IPO price. The new analyst coverage is mostly positive, with a couple of less optimistic valuation calls in the mix.
Shares closed at $43.53 on Monday and have traded in a post-IPO range of $41.78 to $46.50. Yahoo! Finance lists its market cap as $5.04 billion, and the stock has traded an average of almost 1.5 million shares per day.
Here are the analyst rating initiations seen so far for the biopharmaceutical development services and commercial outsourcing company:
Note that Sterne Agee initiated coverage on this last week, ahead of the underwriting syndicate, and it only assigned an Underperform rating.
And note that while the average daily volume is high at 1.5 million shares, that figure includes the first few trading days. It has been more than 20 trading sessions since the stock has actually traded 1 million shares.
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