Hikma updates revenue guidance after US rejects asthma drug

Ausiliatrice Cristiano
Mag 20, 2017

Hikma Pharmaceuticals plc (LON:HIK) tumbled to the bottom of the FTSE 100 after slashing its full year revenue guidance due to delays on the approval of its generic version of asthma drug, Advair. JPMorgan Chase & Co. now has a neutral rating on the stock.

The Hikma Pharmaceuticals plc (LON:HIK) (HIK.L) share price has fallen 5% after the release of a trading statement.

Among 15 analysts covering Hikma Pharmaceuticals PLC (LON:HIK), 11 have Buy rating, 2 Sell and 2 Hold. JPMorgan Chase & Co. dropped their price target on shares of Hikma Pharmaceuticals Plc from GBX 2,400 ($30.98) to GBX 1,800 ($23.23) and set a "neutral" rating on the stock in a research report on Friday, May 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. Hikma Pharmaceuticals Plc has a 1-year low of GBX 1,573.00 and a 1-year high of GBX 2,703.00.

Shares of Hikma Pharmaceuticals Plc (LON:HIK) opened at 1624.98 on Friday. Stifel Nicolaus maintained it with "Buy" rating and GBX 2500 target in Wednesday, August 19 report. Jefferies downgraded it to "Underperform" rating and GBX 1450 target in Wednesday, May 17 report. The firm has a 50-day moving average of GBX 1,900.03 and a 200 day moving average of GBX 1,888.47. The company has market cap of 4.10 billion GBP.

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The business also recently disclosed a dividend, which will be paid on Thursday, May 25th. The ex-dividend date is Thursday, April 6th.

Following Hikma's update, Cantor now expects full year profits to be a "slight improvement" on the previous year, compared to the "significant improvement" it had anticipated earlier. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & worldwide trademark and copyright law. This represents a yield of 0.78%. The legal version of this piece can be read at https://sportsperspectives.com/2017/05/19/hikma-pharmaceuticals-plc-hik-cut-to-add-at-numis-securities-ltd.html.

Hikma Pharmaceuticals Plc (LON:HIK) has risen 6.00% since April 19, 2017 and is uptrending. The Firm is focused on developing, manufacturing and marketing a range of both branded and non-branded generic and in-licensed products.

While the downgrade to guidance for Hikma's Generics business is disappointing, its Injectables and Branded divisions are performing in line with expectations.

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