Otsuka (OTCMKTS:OTSKY) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of Otsuka Holdings Co., Ltd. – Unsponsored ADR (OTCMKTS:OTSKY) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $28.66 and traded as low as $28.3150. Otsuka shares last traded at $28.45, with a volume of 34,108 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Otsuka from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

Otsuka Price Performance

The stock’s 50-day moving average is $28.66 and its 200 day moving average is $27.10.

About Otsuka

Otsuka Pharmaceutical Co, Ltd., trading in the U.S. under the ticker OTCMKTS:OTSKY, is a global healthcare company headquartered in Tokyo, Japan. The firm’s core activities span the development, manufacturing and marketing of prescription pharmaceuticals, consumer healthcare products and nutraceuticals. Otsuka focuses its research on areas such as neuroscience, cardiovascular and renal therapies, and oncology, aiming to bring innovative treatments to patients worldwide.

Founded in 1964 by Busaburo Otsuka as a subsidiary of the Otsuka Group, the company has grown into a diversified healthcare enterprise over more than five decades.