Roche Holdings AG Basel (RHHBY) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Roche Holdings AG Basel (OTCMKTS:RHHBY) from a buy rating to a hold rating in a research report report published on Monday.

According to Zacks, “Roche’s performance is being buoyed by strong sales of Ocrevus, Perjeta, Tecentriq and Alecensa which more than offset the decline from legacy drugs Rituxan, Avastin and Tarceva.  In particular, MS drug Ocrevus continues to witness strong growth, driven by increased demand. Meanwhile, the company continues to progress with its pipeline as it looks to restructure its portfolio beyond oncology into MS and hemophilia among others. The Ignyta acquisition will further strengthen pipeline. Roche dominates the breast cancer space with strong demand for its HER2 franchise drugs. Roche is also looking to restructure its operations for better efficiency. Roche also focuses on innovative diagnostic solutions for the early detection and treatment of diseases. Shares of the company have underperformed the industry in the past twelve months.”

A number of other brokerages have also recently issued reports on RHHBY. Jefferies Financial Group reissued a buy rating on shares of Roche Holdings AG Basel in a report on Tuesday, December 11th. Goldman Sachs Group cut Roche Holdings AG Basel from a conviction-buy rating to a buy rating in a report on Monday, November 19th. Citigroup reissued a hold rating on shares of Roche Holdings AG Basel in a report on Monday, November 26th. Bank of America cut Roche Holdings AG Basel from a buy rating to a neutral rating in a report on Monday, September 10th. Finally, Wolfe Research assumed coverage on Roche Holdings AG Basel in a report on Tuesday, October 23rd. They issued a market perform rating for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $34.50.

Shares of RHHBY opened at $32.60 on Monday. Roche Holdings AG Basel has a 1 year low of $26.30 and a 1 year high of $32.71. The company has a quick ratio of 0.97, a current ratio of 1.28 and a debt-to-equity ratio of 0.53.

A number of hedge funds have recently added to or reduced their stakes in RHHBY. Chartwell Investment Partners LLC increased its holdings in Roche Holdings AG Basel by 296.0% during the 3rd quarter. Chartwell Investment Partners LLC now owns 106,004 shares of the company’s stock valued at $3,225,000 after purchasing an additional 79,235 shares in the last quarter. Patten Group Inc. acquired a new stake in Roche Holdings AG Basel during the 3rd quarter valued at $494,000. Gardiner Nancy B acquired a new stake in Roche Holdings AG Basel during the 3rd quarter valued at $454,000. Pacer Advisors Inc. increased its holdings in Roche Holdings AG Basel by 8.8% during the 3rd quarter. Pacer Advisors Inc. now owns 165,447 shares of the company’s stock valued at $4,990,000 after purchasing an additional 13,425 shares in the last quarter. Finally, Advisor Partners LLC increased its holdings in Roche Holdings AG Basel by 77.1% during the 3rd quarter. Advisor Partners LLC now owns 23,100 shares of the company’s stock valued at $703,000 after purchasing an additional 10,053 shares in the last quarter.

About Roche Holdings AG Basel

Roche Holding AG engages in the diagnostics and pharmaceuticals businesses in Switzerland, Germany, and rest of Europe. It offers pharmaceutical products for anaemia, anticoagulation therapy, bone, cancer, cardiovascular, central nervous system, chlamydia, coagulation, dermatology, diabetes, gonorrhea, gout, hemostasis disorders, hepatitis B and C, HIV/AIDS, HPV, infectious diseases, inflammatory and autoimmune, intensive care medicine, kidney and urogenital tract, leukemia, lipid disorders, liver, 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 diseases.

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