Zacks Investment Research upgraded shares of Roche (OTCMKTS:RHHBY) from a hold rating to a buy rating in a research report sent to investors on Monday morning. The firm currently has $33.00 target price on the stock.

According to Zacks, “Roche performance in 2017 was strong driven by contribution from newly launched drugs. The label expansion of key drugs, Perjeta, Tecentriq and Alecensa will further drive growth. Ocrevus and Hemlibra have been successfully launched and the drugs are expected to bolster the top-line further. Roche dominates the breast cancer space with strong demand for its HER2 franchise drugs. The recently announced Ignyta acquisition will further strengthen pipeline. Shares of the company have outperformed the industry in the month so far. Approval of new drugs and a potential label expansion of existing drugs bode well for Roche as its legacy drugs like Herceptin, MabThera are facing competition from biosimilars. Novartis has already launched its biosimilar version of Rituxan/ MabThera in Europe. Amgen also obtained FDA approval for a biosimilar version of Avastin.”

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A number of other research analysts also recently weighed in on RHHBY. Piper Jaffray Companies reiterated a buy rating on shares of Roche in a report on Thursday, December 7th. JPMorgan Chase & Co. reiterated an overweight rating on shares of Roche in a report on Friday, December 29th. Societe Generale downgraded Roche from a hold rating to a sell rating in a report on Monday, January 15th. Finally, ValuEngine upgraded Roche from a hold rating to a buy rating in a report on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $35.50.

Roche stock opened at $28.74 on Monday. Roche has a twelve month low of $27.70 and a twelve month high of $36.82. The company has a current ratio of 1.29, a quick ratio of 0.92 and a debt-to-equity ratio of 0.66.

Several institutional investors have recently bought and sold shares of RHHBY. Lenox Wealth Management Inc. grew its stake 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 buying an additional 32,335 shares during the last quarter. Patten Group Inc. grew its stake 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 buying an additional 3,239 shares during the last quarter. Sterling Capital Management LLC grew its stake 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 buying an additional 2,535 shares during the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in shares of Roche in the 3rd quarter worth approximately $221,000. Finally, Parametric Portfolio Associates LLC grew its stake 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 buying an additional 200,394 shares during the last quarter. Institutional investors own 0.57% of the company’s stock.

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Roche Company Profile

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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