Zacks Investment Research upgraded shares of Roche Holdings AG Basel (OTCMKTS:RHHBY) from a hold rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. They currently have $37.00 target price on the stock.
According to Zacks, “Roche’s performance has been strong in the year so far, as growth in demand for new drugs has offset the adverse impact of competition for legacy drugs. The company dominates the breast cancer space with strong demand for its HER2 franchise drugs. Solid performance of Ocrevus, Perjeta, Tecentriq and Hemlibra offset lower sales of MabThera/Rituxan. In particular, stellar performance by the MS drug, Ocrevus, amid stiff competition boosted momentum. Also, label expansion of Tecentriq into various indications is positive. Concurrent with the first-quarter sales update, the company raised its guidance for the year. Meanwhile, the company looks to restructure its portfolio beyond oncology into MS and haemophilia, among others. Shares of the company have outperformed the industry in the year so far. However, biosimilar competition is a concern.”
RHHBY has been the topic of a number of other reports. Liberum Capital restated a buy rating and issued a GBX 525 ($6.86) price target on shares of in a research report on Thursday, June 20th. Deutsche Bank restated a buy rating and issued a GBX 2,450 ($32.01) price target on shares of in a research report on Thursday, June 20th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Roche Holdings AG Basel has an average rating of Buy and a consensus price target of $35.50.
A number of large investors have recently added to or reduced their stakes in RHHBY. Advisors Asset Management Inc. acquired a new position in Roche Holdings AG Basel in the first quarter valued at about $144,000. Beck Mack & Oliver LLC acquired a new position in Roche Holdings AG Basel in the first quarter valued at about $203,000. South Texas Money Management Ltd. acquired a new position in Roche Holdings AG Basel in the first quarter valued at about $215,000. MAI Capital Management acquired a new position in Roche Holdings AG Basel in the first quarter valued at about $220,000. Finally, Dearborn Partners LLC lifted its position in shares of Roche Holdings AG Basel by 11.9% during the first quarter. Dearborn Partners LLC now owns 9,339 shares of the company’s stock worth $321,000 after purchasing an additional 992 shares in the last quarter. Hedge funds and other institutional investors own 0.30% of the company’s stock.
Roche Holdings AG Basel Company Profile
Roche Holding AG engages in the diagnostics and prescription pharmaceuticals businesses in Switzerland, Germany, and internationally. It offers pharmaceutical products for treating anaemia, anticoagulation therapy, bone, cardiovascular, central nervous system, chlamydia, coagulation, dermatology, diabetes, gonorrhea, gout, hemostasis disorders, hepatitis B and C, HIV/AIDS, HPV, inflammatory and autoimmune, intensive care medicine, kidney and urogenital tract, leukemia, lipid and liver disorders, 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 and infectious diseases.
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