Published: Fri, August 18, 2017
Markets | By Noel Gibbs

Peel Hunt Reaffirms "Hold" Rating for Hikma Pharmaceuticals Plc (HIK)

Peel Hunt Reaffirms

Peel Hunt reiterated their hold rating on shares of Hikma Pharmaceuticals Plc (LON:HIK) in a research report sent to investors on Thursday morning.

"While we believe that a guidance downgrade was somewhat anticipated given previous commentary this quarter from generics companies, downgrades across all the divisions highlights the headwinds the company is facing", Morgan Stanley analysts wrote. The firm now has a GBX 2,150 ($27.91) price target on the stock.

Hikma's London-listed shares dropped as much as 17 percent to a three and a half-year low of 1101 pence.

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Hikma Pharmaceuticals PLC has PE ratio of 18.32 with a one year low of 1,198.00GBX and a one year high of 2,354.00GBX and has a market capitalization of 0 GBX. Numis Securities Ltd reaffirmed an "add" rating on shares of Hikma Pharmaceuticals Plc in a research note on Friday, May 19th. Four analysts rating the company a strong buy, six analysts rating the company a buy, zero analysts rating the company a hold, zero analysts rating the company a underperform, and finally zero analysts rating the company a sell with a 12-month price target of 32.71GBX. The company presently has a consensus rating of Hold and an average target price of GBX 1,873.10 ($24.32).

Shares of Hikma Pharmaceuticals Plc (LON:HIK) opened at 1207.00 on Thursday. The stock has a 50 day moving average of GBX 1,395.71 and a 200 day moving average of GBX 1,764.22. The firm's market cap is GBX 2.91 billion.

COPYRIGHT VIOLATION NOTICE: "Peel Hunt Reaffirms "Hold" Rating for Hikma Pharmaceuticals Plc (HIK)" was originally posted by Community Financial News and is the sole property of of Community Financial News.

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Hikma's lower guidance in May followed a decision by US regulators not to approve its generic version of GlaxoSmithKline Plc's (GSK.L) blockbuster lung drug Advair, citing "major" issues with the application. If you are reading this piece of content on another publication, it was stolen and republished in violation of USA and global copyright law. The original version of this piece of content can be accessed at https://weekherald.com/2017/08/17/hikma-pharmaceuticals-plc-hkmpf-upgraded-to-buy-at-valuengine-updated-updated.html.

"In the USA, where competition is increasing and pricing pressure is intensifying, sales in our injectables business were resilient and we have maintained strong profitability", said Mr Darwazah, adding "tougher market conditions did, however, continue to limit growth" in the company's generics business.

Under the terms of the agreement: Hikma has been granted the exclusive rights to manufacture and commercialise three of Takeda's leading primary care product families - Vipedia (alogliptin), including Vipdomet (alogliptin/metformin) and Incresync (alogliptin/pioglitazone) (anti-diabetic), Edarbi (azilsartan), including Edarbyclor (azilsartan/chlorothalidone) (anti-hypertensive) and Xefo (lornoxicam) in its rapid form (anti-inflammatory/ pain) - in its MENA markets; Hikma has also been granted the exclusive rights to manufacture and commercialise Takeda's Dexilant (dexlansoprozole) (gastric acid secretion inhibitor) in its MENA markets, with the exception of Saudi Arabia, UAE and Egypt; Hikma's existing license agreement with Takeda in respect of Xefo (lornoxicam) tablets (anti-inflammatory/ pain), has been expanded beyond Saudi Arabia and Jordan to cover Hikma's other MENA markets. Ltd. (4502.TO) adding new products to its portfolio in the Middle East and North Africa, which generates nearly a third of its revenue.

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