Chugai Pharmaceutical (OTCMKTS:CHGCY) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down before the open, opening at $26.00 vs. a prior close of $27.14, though the stock last traded at $27.05 on a volume of 18,507 shares.
• Two brokerages (SMBC Nikko and UBS) recently upgraded Chugai to a Strong Buy, and the stock's consensus rating on MarketBeat is currently "Strong Buy."
• Financials/valuation: Chugai has a market cap of $88.78 billion and a P/E of 31.01; last quarter EPS was $0.25 on $2.25 billion revenue, with analysts forecasting ~0.74 EPS for the year.

Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $27.14, but opened at $26.00. Chugai Pharmaceutical shares last traded at $27.05, with a volume of 18,507 shares changing hands.

Analysts Set New Price Targets

Several brokerages have weighed in on CHGCY. Smbc Nikko Sec. raised Chugai Pharmaceutical to a "strong-buy" rating in a research note on Wednesday, February 25th. UBS Group raised Chugai Pharmaceutical to a "strong-buy" rating in a research note on Tuesday, January 27th. Two investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the stock presently has an average rating of "Strong Buy".

Chugai Pharmaceutical Stock Performance

The firm has a 50 day simple moving average of $29.22 and a two-hundred day simple moving average of $26.80. The stock has a market cap of $88.78 billion, a P/E ratio of 31.01 and a beta of 0.69.

Chugai Pharmaceutical (OTCMKTS:CHGCY - Get Free Report) last announced its earnings results on Thursday, January 29th. The company reported $0.25 earnings per share for the quarter. Chugai Pharmaceutical had a return on equity of 22.00% and a net margin of 34.47%.The firm had revenue of $2.25 billion for the quarter. As a group, equities research analysts predict that Chugai Pharmaceutical Co., Ltd. Unsponsored ADR will post 0.74 EPS for the current year.

Chugai Pharmaceutical Company Profile

Chugai Pharmaceutical Co, Ltd. is a Japan-based biopharmaceutical company headquartered in Tokyo that focuses on the discovery, development, manufacture and marketing of prescription medicines. The company develops both biologics and small-molecule therapies, with particular emphasis on oncology and immunology as well as treatments for bone and metabolic disorders. Chugai's activities span the full drug lifecycle from early research and clinical development through regulatory approval, manufacturing and post-marketing support.

Chugai is known for its research-driven approach and its work on monoclonal antibodies and other biologic therapeutics.

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