Why Roche Holdings Stock Withered on Wednesday
For the second trading session in less than a week, Roche Holding (OTC: RHHBY) stock really took it on the chin Wednesday. Dispiriting news about its investigational obesity drug was the culprit; disseminating this, investors sold out of the pharmaceutical veteran. At the end of the day's action, Roche had lost almost 6% of its value.
In a meeting of the European Association for the Study of Diabetes that day, Roche presented the results of an early-stage clinical trial of its CT-996 pill.
This is the Switzerland-based company's bid to compete in the very high-potential weight-loss drug market. At the moment, this is dominated by fellow European pharmaceutical company Novo Nordisk's Wegovy. A more recent arrival, muscular U.S. peer Eli Lilly, is also competing in the segment with its Zepbound.
Source Fool.com
Roche Holding AG ADR Stock
Our community is currently high on Roche Holding AG ADR with 3 Buy predictions and 1 Sell predictions.
With a target price of 42 € there is a slightly positive potential of 19.73% for Roche Holding AG ADR compared to the current price of 35.08 €.
