Hikma trims FY revenue forecast on Advair U.S. launch delay

The blue-chip drugmaker explained that the lower guidance reflected changes in the outlook of its generics business “where we have revised our expectation for the launch timing of our generic version of Advair Diskus and where we are experiencing increased price erosion on our marketed products”. The brokerage now has a neutral rating on the stock.

Hikma Pharmaceuticals Plc (LON:HIK)’s stock had its “reduce” rating reaffirmed by equities researchers at HSBC Holdings plc in a report released on Friday, May 5th. Finally, Numis Securities Ltd reissued a “buy” rating and issued a GBX 2,350 ($30.33) price objective on shares of Hikma Pharmaceuticals Plc in a research note on Thursday, May 11th.

As of 10:16 BST, Hikma’s share price had lost 4.44 percent to 1,624.50p, underperforming the broader London market, with the benchmark FTSE 100 index having climbed into positive territory and now standing 0.56 percent higher at 7,477.96 points. The company noted today that it was in the process of reviewing the response. Cantor Fitzgerald maintained Hikma Pharmaceuticals Plc (LON:HIK) on Wednesday, August 24 with “Buy” rating. The company has a consensus rating of Hold and an average target price of GBX 2,242.10 ($28.94). Jefferies downgraded it to “Underperform” rating and GBX 1450 target in Wednesday, May 17 report. The company’s market cap is GBX 4.14 billion.

The firm also recently declared a dividend, which will be paid on Thursday, May 25th.

ILLEGAL ACTIVITY WARNING: This news story was published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this story on another site, it was stolen and reposted in violation of USA & worldwide copyright legislation. That’s a worse performance than other pharmaceutical companies such as GlaxoSmithKline plc (LON:GSK) (GSK.L), AstraZeneca plc (LON:AZN) (AZN.L) and Shire PLC (LON:SHP) (SHP.L). The ex-dividend date of this dividend is Thursday, April 6th. This represents a dividend yield of 0.78%. The Firm is focused on developing, manufacturing and marketing a range of both branded and non-branded generic and in-licensed products.

Hikma Pharmaceuticals Plc (LON:HIK) has risen 6.00% since April 19, 2017 and is uptrending.

“The shares trade in line with global peers on our downgraded earnings per share (EPS) estimates, with Hikma’s strategic value in Injectables and branded in the Middle East and North Africa potentially offering upside to the shares that have underperformed significantly since the acquisition of Roxane”.