Hikma Pharmaceuticals (LON:HIK) Trading Down 7.1% After Analyst Downgrade

Shares of Hikma Pharmaceuticals PLC (LON:HIK) were down 7.1% on Friday after JPMorgan Chase & Co. lowered their price target on the stock from GBX 2,600 to GBX 2,500. JPMorgan Chase & Co. currently has an overweight rating on the stock. Hikma Pharmaceuticals traded as low as GBX 1,690 ($22.73) and last traded at GBX 1,751.13 ($23.55). Approximately 1,909,665 shares were traded during trading, an increase of 83% from the average daily volume of 1,043,124 shares. The stock had previously closed at GBX 1,884 ($25.34).

Separately, Jefferies Financial Group restated a “buy” rating and set a GBX 2,600 ($34.97) price objective on shares of Hikma Pharmaceuticals in a research report on Thursday.

Insider Buying and Selling

In other news, insider Said Darwazah sold 13,863 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of GBX 2,138 ($28.76), for a total transaction of £296,390.94 ($398,642.82). Also, insider Mazen Darwazah bought 200,000 shares of Hikma Pharmaceuticals stock in a transaction dated Thursday, August 7th. The stock was acquired at an average cost of GBX 1,756 ($23.62) per share, for a total transaction of £3,512,000 ($4,723,604.57). 30.54% of the stock is currently owned by corporate insiders.

Hikma Pharmaceuticals Stock Down 1.1%

The company has a market cap of £4.80 billion, a P/E ratio of 16.98, a P/E/G ratio of 2.38 and a beta of 0.41. The company has a debt-to-equity ratio of 55.82, a current ratio of 1.66 and a quick ratio of 1.27. The company’s 50-day moving average is GBX 2,010.20 and its two-hundred day moving average is GBX 2,050.20.

About Hikma Pharmaceuticals

At Hikma we help put better health within reach, every day. By creating high-quality medicines and making them accessible to the people who need them, we help to shape a healthier world that enriches all our communities. We help deliver this by living our culture, delivering our strategy, and acting responsibly.