Chugai Pharmaceutical (OTCMKTS:CHGCY) Shares Gap Down – Here’s Why

Shares of Chugai Pharmaceutical Co., Ltd. Unsponsored ADR (OTCMKTS:CHGCY) gapped down before the market opened on Friday. The stock had previously closed at $19.97, but opened at $19.33. Chugai Pharmaceutical shares last traded at $20.13, with a volume of 53,023 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. UBS Group cut Chugai Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Nomura raised shares of Chugai Pharmaceutical to a “hold” rating in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Chugai Pharmaceutical Price Performance

The company has a market capitalization of $66.63 billion, a price-to-earnings ratio of 22.00 and a beta of 0.60. The stock has a 50 day simple moving average of $20.94 and a two-hundred day simple moving average of $23.17.

Chugai Pharmaceutical (OTCMKTS:CHGCY) last announced its quarterly earnings results on Friday, July 24th. The company reported $0.22 EPS for the quarter. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.38 billion. Chugai Pharmaceutical had a net margin of 35.09% and a return on equity of 23.76%. Equities research analysts predict that Chugai Pharmaceutical Co., Ltd. Unsponsored ADR will post 0.96 EPS for the current year.

Chugai Pharmaceutical Company Profile

Chugai Pharmaceutical Co, Ltd. is a Japan-based research-driven pharmaceutical company that develops, manufactures and markets prescription medicines. Its research focuses on oncology, immunology, neuroscience, hematology and other areas of significant unmet medical need, with capabilities spanning drug discovery, clinical development, manufacturing and commercialization.

Chugai’s portfolio includes medicines such as Actemra (tocilizumab), an immunology treatment; Hemlibra (emicizumab), used to prevent bleeding in people with hemophilia A; and Alecensa (alectinib), a targeted therapy for certain forms of lung cancer.