Barclays on Thursday gave a Healthcare spotlight on Zoetis Inc. ZTS after the biotech company reported fourth quarter earnings of $0.40 per share, beating analyst estimates of $0.37 EPS. Zoetis Inc also reported fourth quarter revenues of $1.32 billion, again beating consensus estimates of $1.275 billion. Barclays currently rates Zoetis Inc. as Equal Weight with a price target of $41.
Douglas Tsao wrote that sales of its popular drug Apoquel were $34 million despite supply constraints. Management expects revenues for the drug to be between $150-175 million for the 2015 fiscal year due to increases in demand.
Zoetis Inc. has shown "pipeline power" as the company recently submitted a filing to the USDA for a novel monoclonal antibody therapy along with a filing for Sarolaner, the active ingredient in their new flea/tick oral parasiticide.
Shares of Zoetis Inc. have traded at $46.22, up 1 percent.
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