Takeda Pharmaceutical (NYSE:TAK) Hits New 52-Week High – Here’s Why

Takeda Pharmaceutical Co. (NYSE:TAK)’s stock price reached a new 52-week high during trading on Thursday. The stock traded as high as $21.48 and last traded at $21.5780, with a volume of 8,201 shares trading hands. The stock had previously closed at $21.06.

Analyst Ratings Changes

A number of brokerages have issued reports on TAK. Wall Street Zen raised Takeda Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Zacks Research upgraded Takeda Pharmaceutical from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Finally, Weiss Ratings raised Takeda Pharmaceutical from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Takeda Pharmaceutical Trading Up 2.8%

The business’s 50-day moving average price is $19.01 and its 200-day moving average price is $17.62. The firm has a market capitalization of $69.34 billion, a PE ratio of 28.40 and a beta of -0.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.15 and a quick ratio of 0.60.

Insider Activity

In other Takeda Pharmaceutical news, insider Deidre Greenway sold 12,980 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $18.11, for a total transaction of $235,067.80. Following the transaction, the insider directly owned 40,049 shares of the company’s stock, valued at approximately $725,287.39. This trade represents a 24.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Anne Furney sold 30,868 shares of Takeda Pharmaceutical stock in a transaction on Monday, August 10th. The shares were sold at an average price of $17.10, for a total transaction of $527,842.80. Following the completion of the transaction, the general counsel owned 204,298 shares in the company, valued at approximately $3,493,495.80. This represents a 13.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 627,457 shares of company stock worth $10,981,175 over the last 90 days. 0.04% of the stock is owned by corporate insiders.

Institutional Trading of Takeda Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in Takeda Pharmaceutical by 14.2% during the first quarter. Renaissance Technologies LLC now owns 2,989,100 shares of the company’s stock worth $55,358,000 after acquiring an additional 370,800 shares during the period. Quantinno Capital Management LP raised its position in Takeda Pharmaceutical by 20.6% in the first quarter. Quantinno Capital Management LP now owns 1,289,326 shares of the company’s stock worth $23,878,000 after acquiring an additional 219,999 shares in the last quarter. Royal Bank of Canada lifted its holdings in Takeda Pharmaceutical by 11.0% in the first quarter. Royal Bank of Canada now owns 614,851 shares of the company’s stock valued at $11,386,000 after acquiring an additional 60,725 shares during the period. Bleakley Financial Group LLC lifted its holdings in Takeda Pharmaceutical by 19.0% in the first quarter. Bleakley Financial Group LLC now owns 431,602 shares of the company’s stock valued at $7,993,000 after acquiring an additional 68,844 shares during the period. Finally, Ethic Inc. boosted its position in shares of Takeda Pharmaceutical by 19.5% during the 3rd quarter. Ethic Inc. now owns 436,514 shares of the company’s stock worth $7,940,000 after purchasing an additional 71,261 shares in the last quarter. 9.17% of the stock is owned by institutional investors and hedge funds.

Takeda Pharmaceutical Company Profile

Takeda Pharmaceutical Company Limited is a global biopharmaceutical company headquartered in Tokyo, Japan. The company researches, develops, manufactures and commercializes medicines for patients worldwide, with a focus on areas of significant unmet medical need. Its principal therapeutic areas include gastroenterology, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines.

Takeda’s portfolio includes treatments such as Entyvio for inflammatory bowel disease, Takhzyro for hereditary angioedema, and medicines for certain blood cancers and rare conditions.