Hikma Pharmaceuticals (LON:HIK) Stock Price Down 14.1% on Analyst Downgrade

Hikma Pharmaceuticals PLC (LON:HIK) dropped 14.1% on Thursday after Berenberg Bank lowered their price target on the stock from GBX 2,510 to GBX 2,300. Berenberg Bank currently has a buy rating on the stock. Hikma Pharmaceuticals traded as low as GBX 1,522 and last traded at GBX 1,522. Approximately 166,325,172 shares changed hands during mid-day trading, an increase of 7,989% from the average daily volume of 2,056,107 shares. The stock had previously closed at GBX 1,771.

Other research analysts have also issued research reports about the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 2,360 target price on shares of Hikma Pharmaceuticals in a report on Friday. JPMorgan Chase & Co. reduced their price objective on Hikma Pharmaceuticals from GBX 2,500 to GBX 2,400 and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Hikma Pharmaceuticals from GBX 3,100 to GBX 2,850 and set a “buy” rating for the company in a report on Tuesday, August 12th. Finally, Peel Hunt reaffirmed a “buy” rating and issued a GBX 2,170 price objective on shares of Hikma Pharmaceuticals in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 2,416.

Insider Activity at Hikma Pharmaceuticals

In other news, insider Mazen Darwazah purchased 315,000 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was purchased at an average cost of GBX 1,601 per share, with a total value of £5,043,150. Also, insider Laura Balan Balan acquired 3,500 shares of the stock in a transaction dated Friday, August 22nd. The shares were purchased at an average cost of GBX 1,821 per share, with a total value of £63,735. Insiders have purchased a total of 332,500 shares of company stock worth $533,130,500 in the last quarter. 17.77% of the stock is currently owned by company insiders.

Hikma Pharmaceuticals Stock Performance

The firm has a market cap of £3.50 billion, a PE ratio of 9.47, a PEG ratio of 2.38 and a beta of 0.41. The firm’s 50 day moving average price is GBX 1,730.88 and its two-hundred day moving average price is GBX 1,893.97. The company has a debt-to-equity ratio of 55.82, a quick ratio of 1.27 and a current ratio of 1.66.

About Hikma Pharmaceuticals

At Hikma we help put better health within reach, every day. By creating high-quality medicines and making them accessible to the people who need them, we help to shape a healthier world that enriches all our communities. We help deliver this by living our culture, delivering our strategy, and acting responsibly.