Hikma Pharmaceuticals (LON:HIK) Stock Price Down 13.3% – Here’s What Happened

Hikma Pharmaceuticals PLC (LON:HIK)’s share price dropped 13.3% during trading on Thursday . The company traded as low as GBX 1,531 and last traded at GBX 1,536. Approximately 5,610,586 shares changed hands during mid-day trading, an increase of 328% from the average daily volume of 1,312,058 shares. The stock had previously closed at GBX 1,771.

Wall Street Analyst Weigh In

HIK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on Hikma Pharmaceuticals from GBX 3,100 to GBX 2,850 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Berenberg Bank cut their price objective on Hikma Pharmaceuticals from GBX 2,560 to GBX 2,510 and set a “buy” rating for the company in a research report on Thursday, October 16th. JPMorgan Chase & Co. cut their price objective on Hikma Pharmaceuticals from GBX 2,600 to GBX 2,500 and set an “overweight” rating for the company in a research report on Friday, August 8th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 2,600 price objective on shares of Hikma Pharmaceuticals in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Hikma Pharmaceuticals has a consensus rating of “Buy” and an average price target of GBX 2,615.

Hikma Pharmaceuticals Price Performance

The stock has a 50 day moving average price of GBX 1,740.80 and a 200-day moving average price of GBX 1,898.69. The stock has a market capitalization of £3.37 billion, a price-to-earnings ratio of 9.11, a price-to-earnings-growth ratio of 2.38 and a beta of 0.41. The company has a debt-to-equity ratio of 55.82, a current ratio of 1.66 and a quick ratio of 1.27.

Insiders Place Their Bets

In related news, insider Laura Balan Balan acquired 3,500 shares of the stock in a transaction on Friday, August 22nd. The shares were bought at an average price of GBX 1,821 per share, with a total value of £63,735. Also, insider Mazen Darwazah acquired 14,000 shares of the stock in a transaction on Tuesday, September 16th. The shares were bought at an average cost of GBX 1,603 per share, for a total transaction of £224,420. Insiders own 17.77% of the company’s stock.

Hikma Pharmaceuticals Company Profile

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.