Zacks Investment Research upgraded shares of Pharma-Bio Serv (PBSV) from N/A to OUTPERFORM on September 16, 2013, with a target price of $4.00.
Regularly recognized as one of the top validation companies in Puerto Rico, PBSV is principally engaged in providing compliance consulting to the pharmaceutical industry. Serving customers in the U.S., Europe, and Puerto Rico, PBSV counts many of the pharma "majors" as clients. The company's small size, high levels of expertise in various disciplines and reputation as an eminent life sciences consulting firm has allowed it to adapt to and capitalize on the changing regulatory landscape. This has helped push revenue up 75% in 2011, 47% in 2012 and 19% through the first half of 2013. The industry remains ripe for continued growth and PBSV is sitting in the cat-bird's seat ready to take advantage of it. PBSV is generating big net profits, significant cash flow, has a stellar balance sheet, and trades cheap. Despite all their success, mgmt has remained focused on running the business and running it the right way. We are initiating coverage at Outperform.
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