Roche Holdings AG Basel (RHHBY) Upgraded at Zacks Investment Research

Roche Holdings AG Basel (OTCMKTS:RHHBY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage currently has a $35.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.29% from the stock’s previous close.

According to Zacks, “Roche’s performance is being buoyed by strong sales of Ocrevus, Perjeta, Tecentriq and Alecensa which more than offset the decline from legacy drugs Rituxan, Avastin and Tarceva.  In particular, MS drug Ocrevus continues to witness strong growth, driven by increased demand. Meanwhile, the company continues to progress with its pipeline as it looks to restructure its portfolio beyond oncology into MS and hemophilia among others. The Ignyta acquisition will further strengthen pipeline. Roche dominates the breast cancer space with strong demand for its HER2 franchise drugs. Roche is also looking to restructure its operations for better efficiency. Roche also focuses on innovative diagnostic solutions for the early detection and treatment of diseases. Shares of the company have underperformed the industry in the year so far.”

Several other analysts have also weighed in on the stock. Goldman Sachs Group lowered shares of Roche Holdings AG Basel from a “conviction-buy” rating to a “buy” rating in a research note on Monday, November 19th. Bank of America lowered shares of Roche Holdings AG Basel from a “buy” rating to a “neutral” rating in a research note on Monday, September 10th. Wolfe Research initiated coverage on shares of Roche Holdings AG Basel in a research note on Tuesday, October 23rd. They set a “market perform” rating for the company. ValuEngine upgraded shares of Roche Holdings AG Basel from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Finally, Citigroup restated a “hold” rating on shares of Roche Holdings AG Basel in a research note on Monday, November 26th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $34.50.

Shares of OTCMKTS:RHHBY traded down $0.05 during mid-day trading on Monday, hitting $31.45. The company had a trading volume of 577,044 shares, compared to its average volume of 1,105,352. The firm has a market capitalization of $214.69 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.90 and a beta of 0.54. The company has a quick ratio of 0.97, a current ratio of 1.28 and a debt-to-equity ratio of 0.53. Roche Holdings AG Basel has a one year low of $26.30 and a one year high of $32.58.

A number of hedge funds have recently made changes to their positions in the business. Pillar Pacific Capital Management LLC grew its stake in shares of Roche Holdings AG Basel by 3.8% in the 2nd quarter. Pillar Pacific Capital Management LLC now owns 154,118 shares of the company’s stock worth $4,279,000 after acquiring an additional 5,635 shares in the last quarter. Todd Asset Management LLC grew its stake in shares of Roche Holdings AG Basel by 2.3% in the 2nd quarter. Todd Asset Management LLC now owns 118,900 shares of the company’s stock worth $3,285,000 after acquiring an additional 2,700 shares in the last quarter. Chartwell Investment Partners LLC bought a new stake in shares of Roche Holdings AG Basel in the 2nd quarter worth $743,000. Ferguson Wellman Capital Management Inc. grew its stake in shares of Roche Holdings AG Basel by 3.0% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 313,772 shares of the company’s stock worth $8,670,000 after acquiring an additional 9,025 shares in the last quarter. Finally, Gardiner Nancy B bought a new stake in shares of Roche Holdings AG Basel in the 3rd quarter worth $454,000. Institutional investors and hedge funds own 0.32% of the company’s stock.

About Roche Holdings AG Basel

Roche Holding AG engages in the 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.

Further Reading: Analyst Ratings

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