Prabhudas Lilladher has a buy call on Aurobindo Pharma with a target price of Rs 909.

The current market price of Aurobindo Pharma is Rs 582.

Time period given by the brokerage is one year when Aurobindo Pharma price can reach defined target.

"Aurobindo received nine observations (Form 483) post USFDA visit of Unit-IV in February 2018 and as management suggested, none of the observations were related to data-integrity issues and were mostly on procedural aspects. We believe that ARBP will be able to address the issues raised in the observations as none of those are serious in nature and mostly are about GMP. They also do not require to generate any data to support their responses to USFDA in 15 days, post issuance of the Form-483 observations. Aurobindo is required to rework monitoring of implementation process of the established procedure and inform/ensure the FDA about the corrective actions in the area identified by the regulator. We expect Aurobindo to achieve resolutions on these observations in FY19E and is unlikely that any new approval of ANDAs to be blocked till resolution achieved," Prabhudas Lilladher said in a report.