Credit Suisse Group Cuts Roche (OTCMKTS:RHHBY) Price Target to CHF 350

Roche (OTCMKTS:RHHBYGet Rating) had its price target dropped by research analysts at Credit Suisse Group from CHF 370 to CHF 350 in a report issued on Thursday, The Fly reports. The brokerage presently has a “neutral” rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group downgraded shares of Roche from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Deutsche Bank Aktiengesellschaft cut Roche from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Morgan Stanley lowered their price objective on Roche from CHF 395 to CHF 370 and set an “equal weight” rating on the stock in a research note on Thursday, May 12th. JPMorgan Chase & Co. lowered their price objective on Roche from CHF 390 to CHF 370 and set a “neutral” rating on the stock in a research note on Friday, March 11th. Finally, Barclays boosted their price objective on Roche from CHF 415 to CHF 450 in a research note on Thursday, April 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $318.40.

Shares of OTCMKTS:RHHBY traded down $0.03 during midday trading on Thursday, reaching $40.34. The company had a trading volume of 4,268,431 shares, compared to its average volume of 2,719,743. The company’s 50 day moving average price is $47.78 and its 200 day moving average price is $48.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.93 and a quick ratio of 0.73. Roche has a 52-week low of $39.32 and a 52-week high of $53.86.

Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of Roche during the first quarter valued at about $33,000. First Horizon Advisors Inc. increased its position in shares of Roche by 76.4% in the fourth quarter. First Horizon Advisors Inc. now owns 709 shares of the company’s stock worth $35,000 after purchasing an additional 307 shares during the last quarter. Elmwood Wealth Management Inc. bought a new position in shares of Roche in the fourth quarter worth approximately $128,000. Roanoke Asset Management Corp NY bought a new position in shares of Roche in the fourth quarter worth approximately $207,000. Finally, Toroso Investments LLC bought a new position in shares of Roche in the third quarter worth approximately $232,000. Hedge funds and other institutional investors own 0.21% of the company’s stock.

Roche Company Profile (Get Rating)

Roche Holding AG engages in the prescription pharmaceuticals and diagnostics businesses in Switzerland, Germany, and internationally. The company offers pharmaceutical products for treating oncology, neuroscience, infectious, immunology, cardiovascular and metabolism, ophthalmology, and respiratory, as well as anemia, cancer, dermatology, hemophilia, inflammatory and autoimmune, neurological, and transplantation.

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