Hikma Pharmaceuticals (LON:HIK) Shares Down 14.1% on Analyst Downgrade

Hikma Pharmaceuticals PLC (LON:HIK) shares dropped 14.1% during mid-day trading on Thursday after Berenberg Bank lowered their price target on the stock from GBX 2,510 to GBX 2,300. Berenberg Bank currently has a buy rating on the stock. Hikma Pharmaceuticals traded as low as GBX 1,522 and last traded at GBX 1,522. Approximately 166,325,172 shares changed hands during trading, an increase of 7,989% from the average daily volume of 2,056,107 shares. The stock had previously closed at GBX 1,771.

Several other research firms also recently weighed in on HIK. JPMorgan Chase & Co. decreased their target price on Hikma Pharmaceuticals from GBX 2,500 to GBX 2,400 and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Hikma Pharmaceuticals from GBX 3,100 to GBX 2,850 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 2,360 price target on shares of Hikma Pharmaceuticals in a research note on Friday. Finally, Peel Hunt reissued a “buy” rating and issued a GBX 2,170 price objective on shares of Hikma Pharmaceuticals in a research note on Friday. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 2,416.

Insiders Place Their Bets

In related news, insider Mazen Darwazah purchased 315,000 shares of Hikma Pharmaceuticals stock in a transaction dated Thursday, November 6th. The stock was purchased at an average cost of GBX 1,601 per share, with a total value of £5,043,150. Also, insider Laura Balan Balan acquired 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average price of GBX 1,821 per share, with a total value of £63,735. Insiders bought a total of 332,500 shares of company stock worth $533,130,500 over the last quarter. Company insiders own 17.77% of the company’s stock.

Hikma Pharmaceuticals Price Performance

The stock has a 50 day moving average of GBX 1,730.88 and a 200-day moving average of GBX 1,893.97. The company has a debt-to-equity ratio of 55.82, a quick ratio of 1.27 and a current ratio of 1.66. The company has a market cap of £3.50 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 2.38 and a beta of 0.41.

Hikma Pharmaceuticals Company Profile

At Hikma we help put better health within reach, every day. By creating high-quality medicines and making them accessible to the people who need them, we help to shape a healthier world that enriches all our communities. We help deliver this by living our culture, delivering our strategy, and acting responsibly.