Roche (OTCMKTS:RHHBY) Reaches New 12-Month High – What’s Next?

Roche Holding AG (OTCMKTS:RHHBY)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $45.96 and last traded at $45.96, with a volume of 773784 shares. The stock had previously closed at $45.43.

Wall Street Analysts Forecast Growth

Several research firms have commented on RHHBY. HSBC raised shares of Roche from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Thursday, October 2nd. Jefferies Financial Group cut shares of Roche from a “hold” rating to a “moderate sell” rating in a research note on Monday, October 27th. Morgan Stanley reissued an “underweight” rating on shares of Roche in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft upgraded shares of Roche from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Hsbc Global Res upgraded Roche from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 2nd. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $50.00.

Roche Stock Performance

The company has a 50-day moving average of $42.71 and a 200 day moving average of $40.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Common Asset Management LLC lifted its position in Roche by 1.9% during the third quarter. Boston Common Asset Management LLC now owns 368,553 shares of the company’s stock worth $15,049,000 after buying an additional 6,720 shares in the last quarter. OLD National Bancorp IN boosted its position in shares of Roche by 2.9% during the 2nd quarter. OLD National Bancorp IN now owns 261,317 shares of the company’s stock valued at $10,604,000 after acquiring an additional 7,326 shares during the last quarter. Altrius Capital Management Inc grew its holdings in shares of Roche by 4.0% in the third quarter. Altrius Capital Management Inc now owns 198,278 shares of the company’s stock valued at $8,290,000 after purchasing an additional 7,659 shares during the period. Bard Financial Services Inc. raised its stake in Roche by 1.3% during the third quarter. Bard Financial Services Inc. now owns 138,650 shares of the company’s stock worth $5,797,000 after purchasing an additional 1,800 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Roche by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 108,480 shares of the company’s stock valued at $4,422,000 after purchasing an additional 1,228 shares during the last quarter.

About Roche

Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Europe, North America, Latin America, Asia, Africa, Australia, and Oceania. The company offers pharmaceutical products in the therapeutic areas of anemia, blood and solid tumors, dermatology, hemophilia, inflammatory and autoimmune, neurological disorders, ophthalmology, respiratory disorders, and transplantation.