Zacks Investment Research lowered shares of Roche Holding Ltd. (NASDAQ:RHHBY) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.
According to Zacks, “Roche has a strong presence in the oncology market. The company dominates the breast cancer space with strong demand for its HER2 franchise drugs with drugs like Herceptin, Perjeta and Kadcyla. We are also impressed by the company's efforts to develop its portfolio beyond oncology into immunology. New drug launches, such as Tecentriq, Cotellic and Alecensa boosted sales and should continue to do so in the upcoming quarters. In addition, immuno-oncology is a key focus area for Roche and approval of Tecentriq in 2016 was a major boost for the company. Roche has outperformed the Large Cap Pharmaceuticals industry so far in 2017. However, competition from biosimilars loom large on Roche‘s key drugs like Herceptin, Avastin and Rituxan (expected in the second half of 2017 in Europe). Generic competition for Xeloda, Valcyte and Tamiflu also continue to hurt sales.”
Several other research analysts have also commented on RHHBY. Jefferies Group LLC reiterated a buy rating on shares of Roche Holding in a research report on Sunday, February 19th. Barclays PLC started coverage on Roche Holding in a research report on Tuesday, March 7th. They issued an overweight rating for the company. Liberum Capital started coverage on Roche Holding in a research report on Thursday, March 9th. They issued a hold rating for the company. Cowen and Company upgraded Roche Holding from a market perform rating to an outperform rating and lifted their price target for the stock from $25.25 to $33.37 in a research report on Wednesday, April 5th. Finally, HSBC Holdings plc lowered Roche Holding from a hold rating to a reduce rating in a research report on Friday, April 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $34.69.
Shares of Roche Holding (NASDAQ:RHHBY) opened at 33.275 on Tuesday. Roche Holding has a 52-week low of $25.25 and a 52-week high of $36.82. The firm’s 50-day moving average price is $32.43 and its 200-day moving average price is $30.20. The stock has a market cap of $226.79 billion and a P/E ratio of 23.753.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. S&CO Inc. raised its position in Roche Holding by 8.2% in the third quarter. S&CO Inc. now owns 26,300 shares of the company’s stock valued at $817,000 after buying an additional 2,000 shares in the last quarter. Sit Investment Associates Inc. increased its stake in shares of Roche Holding by 6.9% in the third quarter. Sit Investment Associates Inc. now owns 71,840 shares of the company’s stock valued at $2,225,000 after buying an additional 4,665 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in shares of Roche Holding by 19.6% in the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 138,062 shares of the company’s stock valued at $4,290,000 after buying an additional 22,595 shares during the last quarter. Hikari Power Ltd increased its stake in shares of Roche Holding by 23.8% in the third quarter. Hikari Power Ltd now owns 234,500 shares of the company’s stock valued at $7,262,000 after buying an additional 45,100 shares during the last quarter. Finally, Abner Herrman & Brock LLC increased its stake in shares of Roche Holding by 32.7% in the third quarter. Abner Herrman & Brock LLC now owns 10,841 shares of the company’s stock valued at $337,000 after buying an additional 2,673 shares during the last quarter.
About Roche Holding
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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