Roche (OTCMKTS:RHHBY) Reaches New 12-Month High on Analyst Upgrade

Roche Holding AG (OTCMKTS:RHHBY) shares reached a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. upgraded the stock from an underweight rating to a neutral rating. The company traded as high as $49.22 and last traded at $49.21, with a volume of 24331 shares. The stock had previously closed at $48.52.

Several other brokerages also recently commented on RHHBY. Morgan Stanley reissued an “underweight” rating on shares of Roche in a research report on Tuesday, December 2nd. Hsbc Global Res upgraded shares of Roche from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft raised shares of Roche from a “sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Jefferies Financial Group cut Roche from a “hold” rating to a “moderate sell” rating in a research report on Monday, October 27th. Finally, HSBC raised Roche from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Thursday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Roche has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Institutional Investors Weigh In On Roche

A number of hedge funds have recently added to or reduced their stakes in RHHBY. PNC Financial Services Group Inc. grew its holdings in shares of Roche by 2.0% in the first quarter. PNC Financial Services Group Inc. now owns 16,234 shares of the company’s stock worth $668,000 after acquiring an additional 323 shares during the period. FCA Corp TX purchased a new position in Roche in the first quarter worth about $494,000. Corient IA LLC bought a new stake in shares of Roche during the 1st quarter valued at about $616,000. Beck Mack & Oliver LLC purchased a new stake in shares of Roche during the 1st quarter valued at about $232,000. Finally, Rhumbline Advisers lifted its stake in shares of Roche by 7.4% in the 1st quarter. Rhumbline Advisers now owns 107,252 shares of the company’s stock worth $4,413,000 after purchasing an additional 7,374 shares during the period.

Roche Stock Down 0.4%

The business’s fifty day moving average is $45.13 and its 200-day moving average is $42.11.

About Roche

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.