Hikma Pharmaceuticals (LON:HIK) Shares Down 13.3% Following Analyst Downgrade

Hikma Pharmaceuticals PLC (LON:HIK)’s share price was down 13.3% 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 1,536. Approximately 5,610,586 shares traded hands during trading, an increase of 328% from the average daily volume of 1,312,058 shares. The stock had previously closed at GBX 1,771.

Several other research analysts have also issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Hikma Pharmaceuticals from GBX 2,500 to GBX 2,400 and set an “overweight” rating on the stock in a research note on Friday. Peel Hunt reaffirmed a “buy” rating and issued a GBX 2,170 price objective on shares of Hikma Pharmaceuticals in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of 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 reissued a “buy” rating and issued a GBX 2,360 price target on shares of Hikma Pharmaceuticals in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Hikma Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of GBX 2,416.

Insider Buying and Selling

In other Hikma Pharmaceuticals news, insider Laura Balan Balan acquired 3,500 shares of Hikma Pharmaceuticals stock in a transaction dated 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 purchased 315,000 shares of Hikma Pharmaceuticals stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average cost of GBX 1,601 per share, with a total value of £5,043,150. In the last three months, insiders purchased 332,500 shares of company stock worth $533,130,500. 17.77% of the stock is owned by insiders.

Hikma Pharmaceuticals Stock Performance

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

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.