Hikma Pharmaceuticals (LON:HIK) Stock Price Down 12.1% on Analyst Downgrade

Hikma Pharmaceuticals PLC (LON:HIK) dropped 12.1% 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 1,531 and last traded at GBX 1,557. Approximately 4,047,980 shares traded hands during mid-day trading, an increase of 210% from the average daily volume of 1,304,824 shares. The stock had previously closed at GBX 1,771.

HIK has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective on shares of Hikma Pharmaceuticals from GBX 2,500 to GBX 2,400 and set an “overweight” rating for the company in a research report on Friday. Peel Hunt reaffirmed a “buy” rating and set a GBX 2,170 price target on shares of Hikma Pharmaceuticals in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on Hikma Pharmaceuticals from GBX 3,100 to GBX 2,850 and set a “buy” rating for the company in a report on Tuesday, August 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 2,360 target price on shares of Hikma Pharmaceuticals in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Hikma Pharmaceuticals has a consensus rating of “Buy” and an average target price of GBX 2,416.

Insider Activity

In related news, insider Laura Balan Balan bought 3,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average cost of GBX 1,821 per share, for a total transaction of £63,735. Also, insider Mazen Darwazah bought 315,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of GBX 1,601 per share, for a total transaction of £5,043,150. In the last three months, insiders acquired 332,500 shares of company stock valued at $533,130,500. Corporate insiders own 17.77% of the company’s stock.

Hikma Pharmaceuticals Stock Performance

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

About Hikma Pharmaceuticals

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.