Bernstein has upgraded Roche shares target, citing potential for earnings upgrade. In recent news, Roche's shares significantly increased following the promising results of their early-stage obesity drug trial. The drug demonstrated high efficacy, leading to another climb in Roche's share value. Additionally, there has been an ongoing debate about whether Roche shares are undervalued at $33. Roche also received approval from the European Commission for label expansion of its NSCLC drug, Alecensa.
Despite the significant strides, Roche shares recorded a slight drop due to a modest 2024 outlook. The first quarter earnings were also down, albeit Roche maintaining its FY24 view. Conversely, Roche announced an increase in its dividend. However, there are several concerns, namely Goldman Sachs downgrading Roche stock, pointing to bleak margin forecasts. A $7.1 billion deal was sealed by Roche for U.S. rights to Roivant's bowel disease drug, prompting positive reactions in the market.
Negative news includes a reduction in Roche's stock prices that saw them slide following the disappointing guidance recently released. Visuals of the sharp decline in COVID-19 sales affecting shares also paint a bleak future. However, Roche foresees a return to growth in 2024, outweighing the drop in sales due to the COVID pandemic.
Roche Stocks News Analytics from Wed, 23 Aug 2023 07:00:00 GMT to Fri, 14 Jun 2024 15:00:00 GMT - Rating 3 - Innovation -2 - Information 7 - Rumor -4
