With a new 52-week high, the Zydus Lifesciences stock is expected to outperform in the near term. The average target as of May 11, 2023, is Rs. 521 – a 1.41% increase from the current price of Rs. 513.75.
The highest price ever for Zydus Lifesciences was Rs. 650.50 on 4th June 2021.
The average stock target price of Zydus Lifesciences for 2023 is currently at Rs. 521 although some brokerages reckon it could go closer to Rs. 600.
Zydus Lifesciences has a solid foundation that has triggered its recent bullish run. It has a strong presence in the pharmaceutical industry and has been operating for several decades in the development, manufacturing, and marketing of a wide range of healthcare products, including pharmaceuticals, diagnostics, herbal products, and wellness products. With a recent FDA clearance on a pulmonary drug and better-than-expected Q3 profits, Zydus has shown stable and reliable growth.
Zydus Lifesciences is expected to pay its stock dividend in July. The company consistently paid dividends in July for the past two years.
Zydus received the USFDA nod to manufacture and market drugs for osteoporosis, ulcer, blood pressure, heart disease, and pulmonary infections, and general anti-inflammatories. Furthermore, it is looking to sell its clinical research business for close to USD 200 million.