Stock market analysts are of the view that investors can buy Glenmark Pharmaceutical Ltd stock to achieve an intraday target between Rs 258-261.

According to them, investors can buy the stock with a strict stop loss of Rs 249.

Shares of the company, on Friday (Nov 20), closed at Rs 254.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 346 and a low of Rs 119.15 on BSE.

Current EPS & P/E ratio of the stock stood at 7.86 & 32.50.

Glenmark Generics, the generics division of Glenmark Pharma, declared that it has cleared up all proceedings pending between Glenmark and Medicis Pharmaceutical Corp with regard to the patent activities about Fluocinonide, which is the generic variant of Medicis` Vanos® ointment and Ciclopirox Olamine, the generic edition of Medicis Loprox® gel.

Under the conditions of the settlement deal, Glenmark will be capable of marketing and selling its generic edition of Vanos® cream under authorization from Medicis as early as December 2013, or earlier in sure conditions.

Besides, Glenmark will have permission to roll out a generic version of Loprox® gel 0.77%, supplied by Medicis immediately.

Glenmark Pharma on Nov 16 declared that it has signed up an exclusive contract with Medicis Pharmaceutical Corp in order to jointly make and market a specialty pharma product in North America for treating acne vulgaris.

The contract centres on a topical pharmaceutical product to be made from Glenmark`s pipeline.