Roche Holding Ltd. (NASDAQ:RHHBY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday.

According to Zacks, “Roche continues to face competition from generics for some of its key drugs. Entry of generics and pricing pressure for some of its drugs like Pegasys, Xeloda and Valcyte would hurt the top line in the coming quarters. In addition, possibility of stiff competition from biosimilars looms large on some of Roche’s key drugs such as Avastin, Rituxan and Herceptin for the long term. The biosimilar versions of MabThera and Herceptin are expected to enter the market in the second half of 2017, which will be followed by that of Avastin. On the diagnostics front, Roche is facing a challenging business environment as the diabetes care business is facing pricing pressure in the U.S. along with reimbursement issues. Moreover, the volatile business environment in the diabetes care space is expected to continue. In addition, estimates have been moving down lately ahead of the company’s third-quarter 2016 earnings release.”

Separately, Citigroup Inc. restated a “buy” rating on shares of Roche Holding in a report on Wednesday, August 3rd.

Shares of Roche Holding (NASDAQ:RHHBY) opened at 29.69 on Monday. The stock has a market cap of $202.41 billion and a P/E ratio of 22.11. The company’s 50-day moving average is $30.81 and its 200-day moving average is $31.58. Roche Holding has a 12-month low of $29.35 and a 12-month high of $35.13.

A number of institutional investors have recently made changes to their positions in the company. Genesee Valley Trust Co. boosted its position in shares of Roche Holding by 1.6% in the third quarter. Genesee Valley Trust Co. now owns 16,891 shares of the company’s stock worth $525,000 after buying an additional 271 shares during the last quarter. Patten & Patten Inc. TN boosted its position in shares of Roche Holding by 7.3% in the third quarter. Patten & Patten Inc. TN now owns 218,063 shares of the company’s stock worth $6,753,000 after buying an additional 14,765 shares during the last quarter. New England Research & Management Inc. purchased a new position in shares of Roche Holding during the third quarter worth about $503,000. Eqis Capital Management Inc. boosted its position in shares of Roche Holding by 4.1% in the third quarter. Eqis Capital Management Inc. now owns 11,650 shares of the company’s stock worth $361,000 after buying an additional 464 shares during the last quarter. Finally, Norman Fields Gottscho Capital Management LLC boosted its position in shares of Roche Holding by 447.9% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 54,650 shares of the company’s stock worth $1,693,000 after buying an additional 44,675 shares during the last quarter.

Roche Holding Company Profile

Roche Holding AG is a research-based healthcare company. The Company develops, manufactures and delivers medicines, and diagnostic instruments and tests. Its operating businesses are organized into two divisions: Pharmaceuticals and Diagnostics. Its Pharmaceuticals division consists of two business segments: Roche Pharmaceuticals and Chugai.

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