Chugai Pharmaceutical (OTCMKTS:CHGCY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY) saw unusually-strong trading volume on Thursday . Approximately 495,485 shares changed hands during mid-day trading, an increase of 111% from the previous session’s volume of 234,746 shares.The stock last traded at $23.43 and had previously closed at $23.66.

Analysts Set New Price Targets

A number of brokerages have recently commented on CHGCY. Smbc Nikko Sec. upgraded shares of Chugai Pharmaceutical to a “strong-buy” rating in a report on Wednesday, February 25th. The Goldman Sachs Group upgraded shares of Chugai Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Zacks Research raised shares of Chugai Pharmaceutical to a “hold” rating in a research report on Friday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Chugai Pharmaceutical Price Performance

The company’s 50-day simple moving average is $25.32 and its two-hundred day simple moving average is $27.10. The firm has a market capitalization of $77.13 billion, a P/E ratio of 26.04 and a beta of 0.58.

Chugai Pharmaceutical (OTCMKTS:CHGCY) last posted its quarterly earnings results on Friday, April 24th. The company reported $0.22 earnings per share for the quarter. The business had revenue of $2.05 billion during the quarter. Chugai Pharmaceutical had a net margin of 34.98% and a return on equity of 22.90%. Analysts predict that Chugai Pharmaceutical Co., Ltd. Unsponsored ADR will post 0.98 earnings per share for the current year.

About Chugai Pharmaceutical

Chugai Pharmaceutical Co, Ltd. is a Japan-based biopharmaceutical company headquartered in Tokyo that focuses on the discovery, development, manufacture and marketing of prescription medicines. The company develops both biologics and small-molecule therapies, with particular emphasis on oncology and immunology as well as treatments for bone and metabolic disorders. Chugai’s activities span the full drug lifecycle from early research and clinical development through regulatory approval, manufacturing and post-marketing support.

Chugai is known for its research-driven approach and its work on monoclonal antibodies and other biologic therapeutics.