Zacks Investment Research upgraded shares of Roche (OTCMKTS:RHHBY) from a hold rating to a buy rating in a research report sent to investors on Monday, March 19th. The firm currently has $33.00 target price on the stock.
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 outperformed the industry in the month so far. 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.”
A number of other equities analysts also recently weighed in on RHHBY. Piper Jaffray reissued a buy rating on shares of Roche in a report on Thursday, December 7th. JPMorgan Chase reissued an overweight rating on shares of Roche in a report on Friday, December 29th. Societe Generale downgraded shares of Roche from a hold rating to a sell rating in a report on Monday, January 15th. Finally, ValuEngine raised shares of Roche from a hold rating to a buy rating in a report on Tuesday, January 16th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $35.00.
Shares of OTCMKTS RHHBY traded down $0.06 during trading on Monday, hitting $28.38. The stock had a trading volume of 4,497,897 shares, compared to its average volume of 2,173,430. The firm has a market cap of $193,660.05, a price-to-earnings ratio of 14.55, a PEG ratio of 1.76 and a beta of 0.55. Roche has a 12 month low of $27.65 and a 12 month high of $36.82.
Several large investors have recently modified their holdings of RHHBY. NorthCoast Asset Management LLC lifted its holdings in Roche by 1.1% during the fourth quarter. NorthCoast Asset Management LLC now owns 185,347 shares of the company’s stock valued at $5,860,000 after purchasing an additional 1,978 shares during the last quarter. Kidder Stephen W lifted its holdings in Roche by 1.7% during the fourth quarter. Kidder Stephen W now owns 119,660 shares of the company’s stock valued at $3,779,000 after purchasing an additional 1,989 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Roche by 4.6% during the third 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 during the last quarter. New England Research & Management Inc. lifted its holdings in Roche by 11.6% during the fourth quarter. New England Research & Management Inc. now owns 26,257 shares of the company’s stock valued at $829,000 after purchasing an additional 2,730 shares during the last quarter. Finally, Hemenway Trust Co LLC lifted its holdings in Roche by 1.3% during the fourth quarter. Hemenway Trust Co LLC now owns 241,444 shares of the company’s stock valued at $7,625,000 after purchasing an additional 3,161 shares during the last quarter. 0.57% of the stock is currently owned by institutional investors.
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Roche Company Profile
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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