Otsuka (OTCMKTS:OTSKY) Stock Price Up 8.9% – Here’s What Happened

Otsuka Holdings Co., Ltd. – Unsponsored ADR (OTCMKTS:OTSKY)’s share price shot up 8.9% on Friday . The stock traded as high as $34.9288 and last traded at $34.9288. 489 shares were traded during mid-day trading, a decline of 99% from the average session volume of 34,671 shares. The stock had previously closed at $32.07.

Analysts Set New Price Targets

A number of brokerages have issued reports on OTSKY. UBS Group raised shares of Otsuka to a “hold” rating in a report on Tuesday, January 27th. Zacks Research cut shares of Otsuka from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Morgan Stanley upgraded Otsuka to an “overweight” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold”.

Otsuka Stock Up 7.9%

The firm has a 50 day moving average price of $29.48 and a 200-day moving average price of $27.93.

About Otsuka

Otsuka Pharmaceutical Co, Ltd., trading in the U.S. under the ticker OTCMKTS:OTSKY, is a global healthcare company headquartered in Tokyo, Japan. The firm’s core activities span the development, manufacturing and marketing of prescription pharmaceuticals, consumer healthcare products and nutraceuticals. Otsuka focuses its research on areas such as neuroscience, cardiovascular and renal therapies, and oncology, aiming to bring innovative treatments to patients worldwide.

Founded in 1964 by Busaburo Otsuka as a subsidiary of the Otsuka Group, the company has grown into a diversified healthcare enterprise over more than five decades.