Zacks Investment Research upgraded shares of Roche Holdings AG Basel (OTCMKTS:RHHBY) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $37.00 price target on the stock.
According to Zacks, “Roche’s performance has been strong in the year so far, as growth in demand for new drugs has offset the adverse impact of competition for legacy drugs. The company dominates the breast cancer space with strong demand for its HER2 franchise drugs. Solid performance of Ocrevus, Perjeta, Tecentriq and Hemlibra offset lower sales of MabThera/Rituxan. In particular, stellar performance by the MS drug, Ocrevus, amid stiff competition boosted momentum. Also, label expansion of Tecentriq into various indications is positive. Concurrent with the first-quarter sales update, the company raised its guidance for the year. Meanwhile, the company looks to restructure its portfolio beyond oncology into MS and haemophilia, among others. Shares of the company have outperformed the industry in the year so far. However, biosimilar competition is a concern.”
Several other research firms have also issued reports on RHHBY. Liberum Capital reaffirmed a buy rating and issued a GBX 525 ($6.86) price objective on shares of in a research note on Thursday, June 20th. Deutsche Bank reaffirmed a buy rating and issued a GBX 2,450 ($32.01) price objective on shares of in a research note on Thursday, June 20th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $35.50.
Shares of OTCMKTS:RHHBY opened at $34.15 on Tuesday. The firm’s fifty day moving average is $34.48. The firm has a market cap of $233.36 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 2.52 and a beta of 0.49. Roche Holdings AG Basel has a 12-month low of $28.44 and a 12-month high of $35.90.
A number of institutional investors have recently added to or reduced their stakes in the business. Boston Private Wealth LLC lifted its position in Roche Holdings AG Basel by 46.6% during the 2nd quarter. Boston Private Wealth LLC now owns 10,240 shares of the company’s stock worth $361,000 after acquiring an additional 3,254 shares during the last quarter. Scout Investments Inc. lifted its position in Roche Holdings AG Basel by 15.9% during the 2nd quarter. Scout Investments Inc. now owns 103,699 shares of the company’s stock worth $3,651,000 after acquiring an additional 14,204 shares during the last quarter. Douglass Winthrop Advisors LLC lifted its position in Roche Holdings AG Basel by 9.2% during the 2nd quarter. Douglass Winthrop Advisors LLC now owns 637,978 shares of the company’s stock worth $22,393,000 after acquiring an additional 53,702 shares during the last quarter. Diversified Trust Co lifted its position in Roche Holdings AG Basel by 14.2% during the 1st quarter. Diversified Trust Co now owns 48,165 shares of the company’s stock worth $1,659,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in Roche Holdings AG Basel during the 1st quarter worth $144,000. 0.30% of the stock is owned by hedge funds and other institutional investors.
About Roche Holdings AG Basel
Roche Holding AG engages in the diagnostics and prescription pharmaceuticals businesses in Switzerland, Germany, and internationally. It offers pharmaceutical products for treating anaemia, anticoagulation therapy, bone, cardiovascular, central nervous system, chlamydia, coagulation, dermatology, diabetes, gonorrhea, gout, hemostasis disorders, hepatitis B and C, HIV/AIDS, HPV, inflammatory and autoimmune, intensive care medicine, kidney and urogenital tract, leukemia, lipid and liver disorders, lymphoma, metabolic disorders, obesity, occult blood testing, ophthalmology, osteoporosis, pancreatitis, respiratory disorders, rheumatoid arthritis, sepsis, sexually transmitted infections, skin cancer, transplantation, tuberculosis, urinary tract infections, and West Nile virus and infectious diseases.
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