Berenberg Cuts Hikma Pharmaceuticals Price Target to GBX 2,300

Hikma Pharmaceuticals (LON:HIK) saw its price target adjusted by Berenberg Bank from GBX 2,510 to GBX 2,300 in a research report released on Thursday. Despite the decrease, Berenberg maintains a “buy” rating for the stock, reflecting continued confidence in the company’s potential.

Other financial institutions have also provided their assessments of Hikma Pharmaceuticals. JPMorgan Chase & Co. lowered its price objective from GBX 2,500 to GBX 2,400, while also issuing an “overweight” rating on the stock. Meanwhile, Jefferies Financial Group reaffirmed its “buy” rating, establishing a target of GBX 2,360. Peel Hunt echoed this sentiment with a “buy” rating and a target price of GBX 2,170.

Further analysis from Deutsche Bank Aktiengesellschaft resulted in a price target adjustment from GBX 3,100 to GBX 2,850, also maintaining a “buy” rating. According to data from MarketBeat.com, five equities research analysts currently rate Hikma Pharmaceuticals as a “buy,” with an average target price of GBX 2,416.

Insider Activity and Stock Performance

In related news, insider activity has been notable. Mazen Darwazah, a company insider, purchased 315,000 shares on November 6, 2023, at an average price of GBX 1,601 per share, amounting to a total investment of £5,043,150. Additionally, another insider, Laura Balan, acquired 3,500 shares on August 22, 2023, at an average cost of GBX 1,821 per share, resulting in a total transaction of £63,735. Over the last quarter, insiders have collectively purchased 332,500 shares valued at approximately $533,130,500, indicating strong internal confidence, with corporate insiders currently holding 17.77% of the stock.

About Hikma Pharmaceuticals

Hikma Pharmaceuticals is committed to enhancing global health by providing high-quality medicines and ensuring their accessibility to those in need. The company emphasizes its dedication to fostering healthier communities through responsible practices and strategic initiatives.

As the market evolves, investors and analysts will continue to monitor Hikma Pharmaceuticals closely, assessing its performance and the implications of these recent alterations in price targets.