Roche (RHHBY) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Roche (OTCMKTS:RHHBY) from a hold rating to a sell rating in a research note released on Tuesday.
According to Zacks, “Roche’s performance has been strong as sales are being boosted by new drug launches–Tecentriq and Ocrevus. Sales of Tecentriq were mainly driven by strong uptake in metastatic bladder cancer non-small cell lung cancer indication. Roche dominates the breast cancer space with strong demand for its HER2 franchise drugs like Herceptin, Perjeta and Kadcyla. The FDA recently approved Hemlibra for routine prophylaxis to prevent or reduce the frequency of bleeding episodes in adults and children with haemophilia A with factor VIII inhibitors. However, sales of Avastin and Tarceva continue to decline. Competition from biosimilars looms large on Roche's key drugs like Herceptin, Avastin and Rituxan. The first biosimilars for MabThera are already in the market while biosimilars for Herceptin are also expected soon. Roche has underperformed the industry in the last six months.”
RHHBY has been the subject of a number of other research reports. Berenberg Bank cut shares of Roche from a buy rating to a hold rating in a report on Tuesday, October 24th. Cowen restated a buy rating and set a $38.00 price objective on shares of Roche in a report on Tuesday, September 19th. Citigroup cut shares of Roche from a buy rating to a neutral rating in a report on Wednesday, October 18th. Finally, BNP Paribas cut shares of Roche from a neutral rating to an underperform rating in a report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $38.00.
Roche (RHHBY) opened at $31.72 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.29 and a debt-to-equity ratio of 0.66. Roche has a 1-year low of $25.25 and a 1-year high of $36.82.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Stonebridge Capital Advisors LLC acquired a new position in Roche during the third quarter valued at approximately $221,000. Patten Group Inc. lifted its stake in Roche by 12.2% in the third quarter. Patten Group Inc. now owns 29,741 shares of the company’s stock valued at $847,000 after buying an additional 3,239 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Roche by 4.6% in the third quarter. Sterling Capital Management LLC now owns 58,107 shares of the company’s stock valued at $1,856,000 after buying an additional 2,535 shares in the last quarter. Finally, Lenox Wealth Management Inc. lifted its stake in Roche by 49.0% in the third quarter. Lenox Wealth Management Inc. now owns 98,282 shares of the company’s stock valued at $3,145,000 after buying an additional 32,335 shares in the last quarter. Hedge funds and other institutional investors own 0.58% of the company’s stock.
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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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