Roche (OTCMKTS:RHHBY) Shares Gap Up – Time to Buy?

Shares of Roche Holding AG (OTCMKTS:RHHBY) gapped up before the market opened on Monday . The stock had previously closed at $52.75, but opened at $55.86. Roche shares last traded at $55.59, with a volume of 380,102 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RHHBY shares. Morgan Stanley upgraded shares of Roche from an “equal weight” rating to an “overweight” rating and set a $63.00 price objective for the company in a report on Friday, August 7th. Royal Bank Of Canada assumed coverage on Roche in a report on Tuesday, September 8th. They set an “outperform” rating for the company. HSBC restated a “hold” rating on shares of Roche in a report on Thursday. Finally, Zacks Research upgraded Roche from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Roche Price Performance

The stock has a 50-day moving average of $54.43 and a 200 day moving average of $52.57. The company has a current ratio of 1.38, a quick ratio of 1.12 and a debt-to-equity ratio of 0.72.

Institutional Investors Weigh In On Roche

A number of hedge funds have recently made changes to their positions in RHHBY. Opal Capital LLC purchased a new position in shares of Roche in the 1st quarter worth about $4,448,000. S&CO Inc. increased its holdings in Roche by 163.0% during the first quarter. S&CO Inc. now owns 140,551 shares of the company’s stock worth $6,880,000 after buying an additional 87,107 shares during the last quarter. Hantz Financial Services Inc. raised its position in Roche by 164.9% in the fourth quarter. Hantz Financial Services Inc. now owns 79,732 shares of the company’s stock worth $4,112,000 after acquiring an additional 49,633 shares during the period. North Star Asset Management Inc. bought a new stake in Roche in the second quarter worth about $1,351,000. Finally, Puzo Michael J purchased a new position in Roche in the second quarter valued at about $1,229,000.

About Roche

Roche Holding AG is a Switzerland-based healthcare company that develops and provides pharmaceutical products and diagnostic solutions. Founded in 1896 and headquartered in Basel, Roche operates through two complementary divisions: Pharmaceuticals and Diagnostics.

The Pharmaceuticals division focuses on medicines for oncology, immunology, neuroscience, ophthalmology, hematology and other therapeutic areas. Its portfolio includes treatments such as Ocrevus, Hemlibra, Perjeta, Tecentriq and Vabysmo.