Hikma Pharmaceuticals (LON:HIK) Shares Down 7.1% on Analyst Downgrade

Key Points

• Hikma Pharmaceuticals' stock price fell 7.1% after JPMorgan Chase & Co. downgraded their price target from GBX 2,600 to GBX 2,500, while still maintaining an overweight rating.
• Jefferies Financial Group reaffirmed a buy rating with a price target of GBX 2,600, indicating potential upside for the stock.
• Insider Said Darwazah sold 13,863 shares of stock at an average price of GBX 2,138, with company insiders currently holding 30.54% of shares.

Shares of Hikma Pharmaceuticals PLC (LON:HIK - Get Free Report) fell 7.1% during mid-day trading 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 ($22.72) and last traded at GBX 1,751.13 ($23.54). 1,909,665 shares traded hands during mid-day trading, an increase of 83% from the average session volume of 1,043,124 shares. The stock had previously closed at GBX 1,884 ($25.33).

Separately, Jefferies Financial Group reissued a "buy" rating and issued a GBX 2,600 ($34.96) price objective on shares of Hikma Pharmaceuticals in a research note on Thursday.

Insider Activity at Hikma Pharmaceuticals

In related news, insider Said Darwazah sold 13,863 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of GBX 2,138 ($28.74), for a total value of £296,390.94 ($398,482.04). Also, insider Mazen Darwazah acquired 200,000 shares of Hikma Pharmaceuticals stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average cost of GBX 1,756 ($23.61) per share, with a total value of £3,512,000 ($4,721,699.38). Insiders own 30.54% of the company's stock.

Hikma Pharmaceuticals Stock Performance

The business has a 50-day moving average price of GBX 2,010.20 and a 200-day moving average price of GBX 2,048.98. The firm has a market capitalization of £4.80 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 2.38 and a beta of 0.41. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 55.82.

Hikma Pharmaceuticals Company Profile

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.