Hikma Pharmaceuticals (LON:HIK) Stock Price Down 14.1% After Analyst Downgrade

Hikma Pharmaceuticals PLC (LON:HIK) shares dropped 14.1% during trading 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 1,522 and last traded at GBX 1,522. Approximately 166,325,172 shares were traded during mid-day trading, an increase of 7,989% from the average daily volume of 2,056,107 shares. The stock had previously closed at GBX 1,771.

Several other brokerages also recently issued reports on HIK. Deutsche Bank Aktiengesellschaft cut their target price on shares of Hikma Pharmaceuticals from GBX 3,100 to GBX 2,850 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Peel Hunt reiterated a “buy” rating and set a GBX 2,170 price target on shares of Hikma Pharmaceuticals in a report on Friday. JPMorgan Chase & Co. dropped their price target on Hikma Pharmaceuticals from GBX 2,500 to GBX 2,400 and set an “overweight” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 2,360 price objective on shares of Hikma Pharmaceuticals in a research report on Friday. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 2,416.

Insider Transactions at Hikma Pharmaceuticals

In other news, insider Mazen Darwazah purchased 315,000 shares of Hikma Pharmaceuticals stock in a transaction dated Thursday, November 6th. The stock was acquired at an average cost of GBX 1,601 per share, for a total transaction of £5,043,150. Also, insider Laura Balan Balan purchased 3,500 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of GBX 1,821 per share, with a total value of £63,735. Insiders have bought a total of 332,500 shares of company stock valued at $533,130,500 over the last ninety days. Company insiders own 17.77% of the company’s stock.

Hikma Pharmaceuticals Stock Performance

The stock’s 50-day moving average price is GBX 1,730.88 and its 200 day moving average price is GBX 1,894.04. 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 company has a market cap of £3.50 billion, a P/E ratio of 9.47, a price-to-earnings-growth ratio of 2.38 and a beta of 0.41.

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.