Chugai Pharmaceutical (OTCMKTS:CHGCY) Sees Unusually-High Trading Volume – Here’s What Happened

Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY) shares saw an uptick in trading volume on Wednesday . Approximately 937,938 shares traded hands during mid-day trading, an increase of 296% from the previous session’s volume of 236,583 shares.The stock last traded at $22.4425 and had previously closed at $23.26.

Wall Street Analysts Forecast Growth

CHGCY has been the subject of several research analyst reports. Zacks Research raised Chugai Pharmaceutical to a “hold” rating in a report on Friday, May 29th. The Goldman Sachs Group upgraded Chugai Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Chugai Pharmaceutical presently has an average rating of “Buy”.

Chugai Pharmaceutical Trading Down 4.8%

The stock’s 50-day moving average price is $24.17 and its 200-day moving average price is $26.77. The company has a market capitalization of $73.60 billion, a P/E ratio of 24.84 and a beta of 0.59.

Chugai Pharmaceutical (OTCMKTS:CHGCY) last announced its quarterly earnings data on Friday, April 24th. The company reported $0.22 earnings per share for the quarter. The business had revenue of $2.05 billion during the quarter. Chugai Pharmaceutical had a net margin of 34.98% and a return on equity of 22.90%. Sell-side analysts expect that Chugai Pharmaceutical Co., Ltd. Unsponsored ADR will post 0.98 earnings per share for the current fiscal year.

Chugai Pharmaceutical Company Profile

Chugai Pharmaceutical Co, Ltd. is a Japan-based biopharmaceutical company headquartered in Tokyo that focuses on the discovery, development, manufacture and marketing of prescription medicines. The company develops both biologics and small-molecule therapies, with particular emphasis on oncology and immunology as well as treatments for bone and metabolic disorders. Chugai’s activities span the full drug lifecycle from early research and clinical development through regulatory approval, manufacturing and post-marketing support.

Chugai is known for its research-driven approach and its work on monoclonal antibodies and other biologic therapeutics.