Chugai Pharmaceutical (OTCMKTS:CHGCY) Shares Gap Down – Here’s Why

Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY)’s share price gapped down before the market opened on Monday . The stock had previously closed at $21.87, but opened at $21.10. Chugai Pharmaceutical shares last traded at $20.9540, with a volume of 8,498 shares traded.

Wall Street Analyst Weigh In

CHGCY has been the subject of several research analyst reports. Zacks Research upgraded shares of Chugai Pharmaceutical to a “hold” rating in a research note on Friday, May 29th. The Goldman Sachs Group upgraded shares of Chugai Pharmaceutical from a “hold” rating to a “buy” rating in a report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Chugai Pharmaceutical has a consensus rating of “Buy”.

Chugai Pharmaceutical Trading Down 4.2%

The firm has a market cap of $68.96 billion, a price-to-earnings ratio of 22.77 and a beta of 0.59. The firm’s 50-day moving average is $23.40 and its 200-day moving average is $26.39.

Chugai Pharmaceutical (OTCMKTS:CHGCY) last released its quarterly earnings data on Friday, July 24th. The company reported $0.22 earnings per share for the quarter. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.38 billion. Chugai Pharmaceutical had a net margin of 35.09% and a return on equity of 23.71%. Analysts forecast that Chugai Pharmaceutical Co., Ltd. Unsponsored ADR will post 0.98 EPS for the current fiscal 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.