Hikma Pharmaceuticals (LON:HIK) Shares Down 14.1% on Analyst Downgrade

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

HIK has been the topic of a number of other research reports. Peel Hunt reaffirmed a “buy” rating and issued a GBX 2,170 price target on shares of Hikma Pharmaceuticals in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price 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. 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 reissued a “buy” rating and issued a GBX 2,360 price objective on shares of Hikma Pharmaceuticals in a report on Friday. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of GBX 2,416.

Insiders Place Their Bets

In related news, insider Laura Balan Balan purchased 3,500 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were purchased 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 the stock in a transaction dated Thursday, November 6th. The stock was purchased at an average cost of GBX 1,601 per share, for a total transaction of £5,043,150. Insiders bought 332,500 shares of company stock valued at $533,130,500 over the last ninety days. Corporate insiders own 17.77% of the company’s stock.

Hikma Pharmaceuticals Stock Performance

The company’s 50-day moving average is GBX 1,730.88 and its two-hundred day moving average is GBX 1,894.04. The company has a market capitalization of £3.50 billion, a P/E ratio of 9.47, a PEG ratio of 2.38 and a beta of 0.41. The company has a quick ratio of 1.27, a current ratio of 1.66 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.