Roche (OTCMKTS:RHHBY) Price Target Lowered to $40.00 at TD Cowen

Roche (OTCMKTS:RHHBY) had its target price lowered by stock analysts at TD Cowen from $45.00 to $40.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. TD Cowen’s target price would indicate a potential upside of 12.71% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Bank of America cut Roche from a “buy” rating to a “neutral” rating in a research note on Thursday, August 31st. HSBC assumed coverage on Roche in a research report on Friday, July 14th. They issued a “buy” rating for the company. Finally, Berenberg Bank cut Roche from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $116.25.

Roche Price Performance

Shares of Roche stock traded down $0.35 during trading on Tuesday, reaching $35.49. 1,488,384 shares of the company’s stock were exchanged, compared to its average volume of 2,017,097. The firm’s 50-day moving average price is $37.62 and its 200 day moving average price is $37.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.24 and a quick ratio of 0.93. Roche has a 1-year low of $34.70 and a 1-year high of $43.32.

Institutional Trading of Roche

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chartwell Investment Partners LLC raised its holdings in shares of Roche by 19.4% in the first quarter. Chartwell Investment Partners LLC now owns 97,066 shares of the company’s stock valued at $3,466,000 after purchasing an additional 15,749 shares during the last quarter. Alan B. Lancz & Associates Inc. bought a new position in shares of Roche during the 4th quarter worth approximately $304,000. Saratoga Research & Investment Management boosted its stake in shares of Roche by 26.7% in the 1st quarter. Saratoga Research & Investment Management now owns 1,691,812 shares of the company’s stock worth $60,668,000 after buying an additional 356,469 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Roche by 6.1% in the first quarter. Fisher Asset Management LLC now owns 13,473,327 shares of the company’s stock valued at $481,072,000 after acquiring an additional 776,895 shares in the last quarter. Finally, Sky Investment Group LLC increased its position in shares of Roche by 2.3% during the first quarter. Sky Investment Group LLC now owns 57,016 shares of the company’s stock valued at $2,045,000 after acquiring an additional 1,270 shares during the last quarter.

About Roche

Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Switzerland, Germany, the United States, and internationally. The company offers pharmaceutical products in the therapeutic areas of oncology, neuroscience, infectious diseases, immunology, hemophilia, ophthalmology, dermatology, respiratory, anemia, inflammatory and autoimmune, and transplantation.