Weight Loss Drug Stocks Just Took a Hit. Should You Buy the Stock That Caused It?
When a major player announces good news in a lucrative market like weight loss drugs, it's often enough to drive shares of competitors down based on the assumption that they will have struggles ahead.
That's just what happened after an announcement by Roche Holding (OTC: RHHBY) on July 16. Shares of Novo Nordisk (NYSE: NVO), Eli Lilly (NYSE: LLY), Structure Therapeutics, Altimmune, and Viking Therapeutics all took a hit. Biotechs with clinical-stage weight loss candidates, specifically Viking and Altimmune, fell by nearly 13%, with larger players dropping by more than 4% even while the market was mostly flat.
Is Roche stock worth buying based on the market's sharp reaction, with the idea being that it's the beginning of the end for most of the above companies? Or is there something else at play? Here's what you need to know.
Source Fool.com
Roche Holding AG ADR Stock
With 3 Buy predictions and 3 Sell predictions the community is currently undecided on Roche Holding AG ADR.
At the moment Roche Holding AG ADR has reached the predicted target price of 38 €, with a current price of 37.81 €.
