Roche (OTCMKTS:RHHBY) Shares Gap Up - Time to Buy?

Key Points

• Roche shares jumped 4.2%, opening at $55.86 versus a prior close of $52.75, and were last trading near $55.59.
• Analyst sentiment is broadly positive: Morgan Stanley upgraded Roche to “overweight,” RBC initiated coverage with an “outperform” rating, and the stock carries a consensus “Moderate Buy” rating with a $60 target price.
• Several institutional investors increased their Roche holdings, while the company maintains operations across pharmaceutical and diagnostic businesses spanning oncology, immunology, neuroscience and other therapeutic areas.

Roche Holding AG (OTCMKTS:RHHBY - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $52.75, but opened at $55.86. Roche shares last traded at $55.59, with a volume of 380,102 shares traded.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Roche from an "equal weight" rating to an "overweight" rating and set a $63.00 price target on the stock in a research report on Friday, August 7th. HSBC reiterated a "hold" rating on shares of Roche in a research report on Thursday. Zacks Research raised shares of Roche from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Finally, Royal Bank Of Canada began coverage on shares of Roche in a report on Tuesday, September 8th. They issued an "outperform" rating on the stock. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Roche Stock Up 4.2%

The company has a quick ratio of 1.12, a current ratio of 1.38 and a debt-to-equity ratio of 0.72. The business's fifty day simple moving average is $54.43 and its 200 day simple moving average is $52.57.

Institutional Trading of Roche

Several large investors have recently made changes to their positions in the company. Verity Asset Management Inc. increased its position in Roche by 20.9% in the 3rd quarter. Verity Asset Management Inc. now owns 10,990 shares of the company's stock valued at $459,000 after buying an additional 1,898 shares in the last quarter. Hancock Whitney Corp boosted its holdings in Roche by 4.8% in the third quarter. Hancock Whitney Corp now owns 24,488 shares of the company's stock worth $1,024,000 after acquiring an additional 1,116 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Roche by 18.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 22,255 shares of the company's stock valued at $1,148,000 after acquiring an additional 3,456 shares during the period. Hantz Financial Services Inc. grew its stake in Roche by 164.9% in the fourth quarter. Hantz Financial Services Inc. now owns 79,732 shares of the company's stock valued at $4,112,000 after acquiring an additional 49,633 shares during the period. Finally, Sarver Vrooman Wealth Advisors bought a new stake in shares of Roche during the fourth quarter valued at approximately $287,000.

Roche Company Profile

Roche Holding AG is a Switzerland-based healthcare company that develops and provides pharmaceutical products and diagnostic solutions. Founded in 1896 and headquartered in Basel, Roche operates through two complementary divisions: Pharmaceuticals and Diagnostics.

The Pharmaceuticals division focuses on medicines for oncology, immunology, neuroscience, ophthalmology, hematology and other therapeutic areas. Its portfolio includes treatments such as Ocrevus, Hemlibra, Perjeta, Tecentriq and Vabysmo.

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