Roche (OTCMKTS:RHHBY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, November 28th.
According to Zacks, “Roche’s performance has been strong as sales are being boosted by new drug launches–Tecentriq and Ocrevus. Sales of Tecentriq were mainly driven by strong uptake in metastatic bladder cancer non-small cell lung cancer indication. Roche dominates the breast cancer space with strong demand for its HER2 franchise drugs like Herceptin, Perjeta and Kadcyla. The FDA recently approved Hemlibra for routine prophylaxis to prevent or reduce the frequency of bleeding episodes in adults and children with haemophilia A with factor VIII inhibitors. However, sales of Avastin and Tarceva continue to decline. Competition from biosimilars looms large on Roche's key drugs like Herceptin, Avastin and Rituxan. The first biosimilars for MabThera are already in the market while biosimilars for Herceptin are also expected soon. Roche has underperformed the industry in the last six months.”
Several other equities research analysts also recently commented on RHHBY. Cowen set a $38.00 target price on shares of Roche and gave the stock a “buy” rating in a research report on Monday, August 14th. Citigroup downgraded shares of Roche from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 18th. BNP Paribas downgraded shares of Roche from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 26th. Finally, Berenberg Bank downgraded shares of Roche from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $38.00.
Roche (OTCMKTS RHHBY) traded up $0.27 during trading hours on Tuesday, reaching $30.90. 1,420,000 shares of the company traded hands, compared to its average volume of 1,940,000. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.92 and a current ratio of 1.29. Roche has a twelve month low of $27.98 and a twelve month high of $36.82.
A number of hedge funds have recently made changes to their positions in RHHBY. Lenox Wealth Management Inc. increased its stake in Roche by 49.0% during the 3rd quarter. Lenox Wealth Management Inc. now owns 98,282 shares of the company’s stock valued at $3,145,000 after purchasing an additional 32,335 shares in the last quarter. Patten Group Inc. increased its stake in Roche by 12.2% during the 3rd quarter. Patten Group Inc. now owns 29,741 shares of the company’s stock valued at $847,000 after purchasing an additional 3,239 shares in the last quarter. Sterling Capital Management LLC increased its stake in Roche by 4.6% during the 3rd quarter. Sterling Capital Management LLC now owns 58,107 shares of the company’s stock valued at $1,856,000 after purchasing an additional 2,535 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new stake in Roche during the 3rd quarter valued at $221,000. Finally, Parametric Portfolio Associates LLC increased its stake in Roche by 5.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,806,074 shares of the company’s stock valued at $121,794,000 after purchasing an additional 200,394 shares in the last quarter. Institutional investors and hedge funds own 0.58% of the company’s stock.
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Roche Holding AG (Roche) is a research-based healthcare company. The Company’s operating businesses are organized into two divisions: Pharmaceuticals and Diagnostics. The Pharmaceuticals Division consists of two business segments: Roche Pharmaceuticals and Chugai. The Diagnostics Division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics.
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