Roche (OTCMKTS:RHHBY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Roche’s performance has been strong as sales are being boosted by new drug launches–Tecentriq and Ocrevus. Sales of Tecentriq were mainly driven by strong uptake in non-small cell lung cancer indication. Roche dominates the breast cancer space with strong demand for its HER2 franchise drugs like Herceptin, Perjeta and Kadcyla. The company also has a dominant position in lung cancer market. The FDA recently approved Hemlibra for routine prophylaxis to prevent or reduce the frequency of bleeding episodes in adults and children with haemophilia A with factor VIII inhibitors. The recently announced Ignyta acquisition will further strengthen pipeline. However, sales of Avastin and Tarceva continue to decline. Competition from biosimilars looms large on Roche's key drugs like Herceptin, Avastin and Rituxan.  Roche has underperformed the industry in the last six months.”

RHHBY has been the topic of a number of other research reports. BNP Paribas downgraded Roche from a “neutral” rating to an “underperform” rating in a report on Tuesday, September 26th. Cowen reiterated a “buy” rating and set a $38.00 target price on shares of Roche in a report on Tuesday, September 19th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Roche in a report on Friday, December 29th. Citigroup downgraded Roche from a “buy” rating to a “neutral” rating in a report on Wednesday, October 18th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Roche in a report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Roche presently has an average rating of “Hold” and a consensus price target of $36.50.

Shares of Roche (RHHBY) traded down $0.12 during trading hours on Friday, reaching $32.23. The company had a trading volume of 232,084 shares, compared to its average volume of 1,760,000. Roche has a 52 week low of $28.48 and a 52 week high of $36.82. The stock has a market cap of $221,820.00, a P/E ratio of 22.38, a PEG ratio of 2.18 and a beta of 0.67. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.92 and a current ratio of 1.29.

Several institutional investors and hedge funds have recently modified their holdings of RHHBY. Lenox Wealth Management Inc. boosted its position in shares of Roche by 49.0% in the 3rd quarter. Lenox Wealth Management Inc. now owns 98,282 shares of the company’s stock worth $3,145,000 after purchasing an additional 32,335 shares in the last quarter. Patten Group Inc. boosted its position in shares of Roche by 12.2% in the 3rd quarter. Patten Group Inc. now owns 29,741 shares of the company’s stock worth $847,000 after purchasing an additional 3,239 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Roche by 4.6% in the 3rd quarter. Sterling Capital Management LLC now owns 58,107 shares of the company’s stock worth $1,856,000 after purchasing an additional 2,535 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new stake in shares of Roche in the 3rd quarter worth approximately $221,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Roche by 5.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,806,074 shares of the company’s stock worth $121,794,000 after purchasing an additional 200,394 shares in the last quarter. 0.58% of the stock is currently owned by hedge funds and other institutional investors.

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About Roche

Roche Holding AG (Roche) is a research-based healthcare company. The Company’s operating businesses are organized into two divisions: Pharmaceuticals and Diagnostics. The Pharmaceuticals Division consists of two business segments: Roche Pharmaceuticals and Chugai. The Diagnostics Division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics.

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