Zacks Investment Research downgraded shares of Roche (OTCMKTS:RHHBY) from a buy rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “Roche performance in 2017 was strong driven by contribution from newly launched drugs. The label expansion of key drugs, Perjeta, Tecentriq and Alecensa will further drive growth. Ocrevus and Hemlibra have been successfully launched and the drugs are expected to bolster the top-line further. Roche dominates the breast cancer space with strong demand for its HER2 franchise drugs. The recently announced Ignyta acquisition will further strengthen pipeline. Shares of the company have underperformed the industry in the year so far. Moreover, approval of new drugs and a potential label expansion of existing drugs bode well for Roche as its legacy drugs like Herceptin, MabThera are facing competition from biosimilars. Novartis has already launched its biosimilar version of Rituxan/ MabThera in Europe. Amgen also obtained FDA approval for a biosimilar version of Avastin.”
Several other equities research analysts have also issued reports on the company. Societe Generale lowered Roche from a hold rating to a sell rating in a research note on Monday, January 15th. JPMorgan Chase reaffirmed an overweight rating on shares of Roche in a research note on Friday, December 29th. Piper Jaffray reaffirmed a buy rating on shares of Roche in a research note on Thursday, December 7th. ValuEngine raised Roche from a hold rating to a buy rating in a research note on Tuesday, January 16th. Finally, Morgan Stanley lowered Roche from an equal weight rating to an underweight rating in a research note on Tuesday, March 27th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Roche presently has an average rating of Hold and an average price target of $35.00.
Shares of RHHBY stock opened at $28.05 on Wednesday. Roche has a 12-month low of $27.65 and a 12-month high of $36.82. The stock has a market cap of $191,649.50, a price-to-earnings ratio of 14.38, a PEG ratio of 1.71 and a beta of 0.55.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. increased its holdings in shares of Roche by 49.0% in the third quarter. Lenox Wealth Management Inc. now owns 98,282 shares of the company’s stock worth $3,145,000 after buying an additional 32,335 shares during the period. Roberts Glore & Co. Inc. IL purchased a new position in shares of Roche in the fourth quarter worth about $234,000. Kidder Stephen W increased its holdings in shares of Roche by 1.7% in the fourth quarter. Kidder Stephen W now owns 119,660 shares of the company’s stock worth $3,779,000 after buying an additional 1,989 shares during the period. Delaney Dennis R increased its holdings in shares of Roche by 160.8% in the fourth quarter. Delaney Dennis R now owns 26,900 shares of the company’s stock worth $850,000 after buying an additional 16,585 shares during the period. Finally, Tower Bridge Advisors increased its holdings in shares of Roche by 2.4% in the fourth quarter. Tower Bridge Advisors now owns 256,039 shares of the company’s stock worth $8,096,000 after buying an additional 6,083 shares during the period. Hedge funds and other institutional investors own 0.57% of the company’s stock.
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Roche Holding AG diagnostics and pharmaceuticals businesses in Switzerland, Germany, and rest of Europe. It offers pharmaceutical products for anaemia, anticoagulation therapy, bone, cancer, cardiovascular, central nervous system, chlamydia, coagulation, dermatology, diabetes, gonorrhea, gout, hemostasis disorders, hepatitis B and C, HIV/AIDS, HPV, infectious diseases, inflammatory and autoimmune, intensive care medicine, kidney and urogenital tract, leukemia, lipid disorders, liver, 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 diseases.
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