Roche (OTCMKTS:RHHBY) Shares Gap Down - Here's Why

Key Points

• Roche Holding AG shares fell from a closing price of $43.94 to an opening price of $42.23, indicating a notable drop in the stock's value prior to trading.
• HSBC upgraded Roche from a "hold" to a "buy" rating, setting a price target of $50.00, contributing to the stock's consensus rating of "Buy."
• Recent institutional investments show increasing confidence in Roche, with Boston Common Asset Management raising its stake by 11.1% during the second quarter.

Roche Holding AG (OTCMKTS:RHHBY - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $43.94, but opened at $42.23. Roche shares last traded at $42.37, with a volume of 288,829 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RHHBY shares. HSBC raised Roche from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Thursday, October 2nd. Hsbc Global Res raised Roche from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 2nd. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Roche currently has a consensus rating of "Buy" and an average price target of $50.00.

Roche Stock Performance

The business's 50 day simple moving average is $42.28 and its two-hundred day simple moving average is $40.55.

Institutional Investors Weigh In On Roche

A number of hedge funds have recently added to or reduced their stakes in RHHBY. Boston Common Asset Management LLC raised its stake in Roche by 11.1% during the 2nd quarter. Boston Common Asset Management LLC now owns 361,833 shares of the company's stock valued at $14,682,000 after buying an additional 36,101 shares during the last quarter. Corient IA LLC purchased a new stake in Roche during the 1st quarter valued at $616,000. Moloney Securities Asset Management LLC raised its stake in Roche by 53.8% during the 1st quarter. Moloney Securities Asset Management LLC now owns 40,732 shares of the company's stock valued at $1,672,000 after buying an additional 14,245 shares during the last quarter. FCA Corp TX purchased a new stake in Roche during the 1st quarter valued at $494,000. Finally, Everett Harris & Co. CA purchased a new stake in Roche during the 1st quarter valued at $445,000.

Roche Company Profile

Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Europe, North America, Latin America, Asia, Africa, Australia, and Oceania. The company offers pharmaceutical products in the therapeutic areas of anemia, blood and solid tumors, dermatology, hemophilia, inflammatory and autoimmune, neurological disorders, ophthalmology, respiratory disorders, and transplantation.

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