Roche (OTCMKTS:RHHBY) Upgraded by Hsbc Global Res to “Strong-Buy” Rating

Hsbc Global Res upgraded shares of Roche (OTCMKTS:RHHBY) from a hold rating to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Separately, HSBC upgraded Roche from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $50.00.

Roche Trading Down 0.3%

Shares of RHHBY opened at $44.70 on Thursday. Roche has a one year low of $34.10 and a one year high of $45.08. The stock has a 50 day moving average price of $40.68 and a 200 day moving average price of $40.26.

Institutional Investors Weigh In On Roche

A number of hedge funds have recently bought and sold shares of RHHBY. PNC Financial Services Group Inc. lifted its position in Roche by 2.0% during the first quarter. PNC Financial Services Group Inc. now owns 16,234 shares of the company’s stock worth $668,000 after acquiring an additional 323 shares during the last quarter. Everett Harris & Co. CA increased its holdings in shares of Roche by 3.5% during the second quarter. Everett Harris & Co. CA now owns 11,190 shares of the company’s stock worth $456,000 after purchasing an additional 381 shares during the period. Confluence Investment Management LLC increased its holdings in shares of Roche by 5.1% during the second quarter. Confluence Investment Management LLC now owns 15,225 shares of the company’s stock worth $621,000 after purchasing an additional 734 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Roche by 81.2% during the second quarter. First Horizon Advisors Inc. now owns 1,843 shares of the company’s stock worth $75,000 after purchasing an additional 826 shares during the period. Finally, Accent Capital Management LLC bought a new position in shares of Roche during the first quarter worth approximately $35,000.

Roche Company Profile

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.