Roche Holding AG Part. Cert.

Roche Holding is a healthcare company. Co. operates in two Divisions, Pharmaceuticals and Diagnostics. Co.'s pharmaceuticals division is comprised of two business segments Roche Pharmaceuticals and Chugai. Co.'s pharmaceuticals division provides therapies including Cotellic, in combination with Zelboraf for advanced melanoma, and Alecensa for a specific type of lung cancer. Co.'s diagnostics division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics. Co.'s diagnostics division provides in vitro diagnostic tests, used by healthcare providers to screen, diagnose and monitor therapies.
  • TickerROG
  • ISINCH0012032048
  • ExchangeSix Swiss Exchange
  • SectorPharmaceuticals & Biotechnology
  • CountrySwitzerland

Analysts

Eric Le Berrigaud ...
  • Victor Floc’h

MORPHOSYS: The amyloid approach is still very much alive | BUY | EUR125(+27%)

MORPHOSYS - BUY | EUR125(+27%) The amyloid approach is still very much alive What’s going on with aducanumab (Biogen)? Greater exposure to high dose is needed to show clinical effect What does this mean for gantenerumab (Roche/MorphoSys)?

Jean-Christophe Dourret

Roche Holding : Roche - 21 oct 2019

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Jean-Christophe Dourret

Roche Holding : Roche - 21 oct 2019

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Nurhayati Wan

Roche Holdings

Nurhayati Wan

Roche Holding AG

Jean-Jacques Le Fur

Roche: Positive OS for Tecentriq in ES-SCLC (IMpower 133) after the disappointment in NSCLC

Brief Comment - Roche: (NEUTRAL, Fair Value CHF266 (+14%)) Positive OS for Tecentriq in ES-SCLC (IMpower 133) after the disappointment in NSCLC

Moody's: China's rising demand for drugs will fuel foreign pharma companies' growth into 2023

Announcement: Moody's: China's rising demand for drugs will fuel foreign pharma companies' growth into 2023. Global Credit Research- 24 Sep 2019. -Relaxed regulation, improving healthcare coverage to drive China's pharmaceutical demand.

Moody's: China's rising demand for drugs will fuel foreign pharma companies' growth into 2023

Announcement: Moody's: China's rising demand for drugs will fuel foreign pharma companies' growth into 2023. Global Credit Research- 24 Sep 2019. -Relaxed regulation, improving healthcare coverage to drive China's pharmaceutical demand.

Roche Holding AG - June 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Roche Holding AG: Update to credit analysis

Our credit view of Roche Holding AG, reflecting its ongoing strong financial performance as its patent cliff will intensify.

Roche Holding AG - December 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Eric Le Berrigaud ...
  • Victor Floc’h

MORPHOSYS: The amyloid approach is still very much alive | BUY | EUR125(+27%)

MORPHOSYS - BUY | EUR125(+27%) The amyloid approach is still very much alive What’s going on with aducanumab (Biogen)? Greater exposure to high dose is needed to show clinical effect What does this mean for gantenerumab (Roche/MorphoSys)?

Jean-Christophe Dourret

Roche Holding : Roche - 21 oct 2019

...

Jean-Christophe Dourret

Roche Holding : Roche - 21 oct 2019

...

Nurhayati Wan

Roche Holdings

Nurhayati Wan

Roche Holding AG

Alain William ...
  • Christophe Chaput
  • Geoffroy Michalet
  • Martial Descoutures
  • Oussema Denguir
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/16/2019

The range of possible scenarios for the EDF reform still looks very broad. Fears of the “Hercule” project being shelved indefinitely are legitimate at this stage. Our baseline scenario values EDF at € 11.50 per share (upside +20%) with a positive risk/reward profile on the stock: swift realisation of the “Hercule” project points to a higher target price of € 15.0 while the worst-case scenario of an unfavourable mini-reform of the ARENH mechanism in 2020 still puts us above the current...

Alain William ...
  • Christophe Chaput
  • Geoffroy Michalet
  • Martial Descoutures
  • Oussema Denguir
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 16/10/2019

Le champ des futurs possibles concernant la réforme d’EDF semble encore très large. Les craintes d’un report sine die du « projet Hercule » sont légitimes à ce stade. Notre scénario central est valorisé à 11.50 € par action (potentiel +20%) avec un risk/reward positif sur la valeur : la mise en œuvre rapide du projet Hercule se traduirait par un OC relevé à 15.0 € tandis que le worst case d’une mini réforme de l’ARENH défavorable en 2020 nous amènerait malgré tout au-dessus du cours a...

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/17/2019

At the road show that we organised in Paris, Eiffage’s management seemed particularly reassuring about the operating momentum (contracting volumes, trends in margins and motorway traffic) and its external growth strategy. We share this confidence and reiterate our Buy recommendation with a target price raised to € 110 (vs € 103). - Cf. equity report published this morning. - ...

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/09/2019

Lors du roadshow que nous avons organisé à Paris, le management d’Eiffage s’est montré particulièrement rassurant tant sur la dynamique opérationnelle (volumes de travaux, évolution des marges, trafic autoroutier) que sur sa stratégie de croissance externe. Nous partageons cette confiance et réitérons notre recommandation Achat avec un objectif de cours relevé à 110 € (vs 103 €). Cf. étude publiée ce jour. - ...

Ahmed Ben Salem ...
  • Alain William
  • Alexandre Iatrides
  • Alfred Glaser
  • Baptiste Lebacq
  • Benoit Valleaux
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Florent Laroche-Joubert
  • François Maury
  • Georges Dieng
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Nicolas David
  • Philippe Ourpatian
  • Pierre Tegner
  • Pierre Corby
  • Roland Pfaender,MBA,CFA,CCRA
  • Stephane Houri

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/25/2019

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ROCHE HOLDING AG increases its risk exposure and slightly lowers to Neutral

ROCHE HOLDING AG (CH), a company active in the Pharmaceuticals industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date September 24, 2019, the closing price was CHF 283.35 and its expected value was estimated at CHF 273.18.

Nurhayati Wan

Roche Holdings

Nurhayati Wan

Roche Holdings

Nurhayati Wan

Roche Holdings

Nurhayati Wan

Roche Holdings

Eric Le Berrigaud ...
  • Hugo Solvet
  • Jean-Jacques Le Fur
  • Victor Floc’h

Healthcare: Top Picks for Q4 2019: Galapagos and Roche

Roche stays in, Galapagos enters the list As we look to the quarter ahead, we believe it is reasonable to pick defensive stocks and to avoid as much as possible biotech and the most volatile names since the start of the campaign for the US Presidential elections is a risk to the sector in the period. In general terms, this is why we are going to start with only two names in the list, leaving the door open to additions in the course of the period to add one or two more, maybe at more attractive prices.

Eric Le Berrigaud

SECTOR | Pharmaceuticals | BG OncoDay 2019: clear upside in early-stage NSCLC

SECTOR | Pharmaceuticals | BG OncoDay 2019: clear upside in early-stage NSCLC At our Annual Oncology Day this year, two KOLs (i) summarized the key learnings from ASCO 2019 and (ii) focused specifically on the advances in lung cancer. Then, out of the five companies presenting, three did so in plenary sessions, and we report here the main messages they conveyed

Eric Le Berrigaud

ROCHE: “We are fine with the show-me mode investors are imposing us” (CFO) - Feedback | BUY - Top Picks | CHF329(+25%)

ROCHE - BUY - Top Picks | CHF329(+25%) “We are fine with the show-me mode investors are imposing us” (CFO) - Feedback 2019 is PoC for management's high degree of reliability 2020 does not look worse (at all) Upside beyond 2020 Where the consensus stands makes no nsense

Eric Le Berrigaud ...
  • Gary Waanders
  • Hugo Solvet
  • Jean-Jacques Le Fur
  • Ross Blair
  • Victor Floc’h

Healthcare: Top Picks Q2 2019: Alcon, Innate, Ipsen and Roche

Healthcare Top Picks Q2 2019: Alcon, Innate, Ipsen and Roche Looking back to Q1 2019 What to expect for Q2 2019

Eric Le Berrigaud

Pharmaceuticals | ESMO 2018: Sequencing Was the Key Word

We synthesise here the main take-away messages from the annual ESMO congress which took place in Munich in October. We present the conclusions in sections organised by organ with three main parts: renal-cell carcinoma (RCC), breast cancer (BC) and lung cancer (NSCLC) with non-uniform levels of innovation and progress. The last section is dedicated to head & neck cancer with encouraging updated data on monatuximab/cetuxima

Roche Holding – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Roche - March, 05th 2019

ITEMS 2.1, 2.2, 7 and 8 - Binding votes on the remuneration of the board of directors  and the executive management. Ethos has the following concerns over the amounts requested:  The annual bonuses that will effectively be paid out to the chairman and the CEO are significantly higher than the amounts requested at the general meeting. The remuneration of the non-executive chairman is significantly higher than that of the peer group and includes an annual bonus. For the executive management, the remuneration is significantly higher than that of the peer group and the remuneration structure is n...

Valérie GASTALDY

Analyse court terme - ROCHE HOLDING AG : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 243,70 CHF. La rupture du support à 206,50 CHF invaliderait cette tendance.

Valérie GASTALDY

Short term view - ROCHE HOLDING AG : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at CHF 243.70. Breaking below the support at CHF 206.50 would invalidate the trend.

Valérie GASTALDY

Analyse court terme - ROCHE HOLDING AG : Les cours progressent encore.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 243,70 CHF. La rupture du support à 206,50 CHF invaliderait cette tendance.

Valérie GASTALDY

Short term view - ROCHE HOLDING AG : Prices are still making progress

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at CHF 243.70. Breaking below the support at CHF 206.50 would invalidate the trend.

Valérie GASTALDY

Medium term view - ROCHE HOLDING AG : The recent fall is getting more vigorous.

The trend is bullish. The recent fall is getting more vigorous. The next support is at CHF 203.60. A break below CHF 203.60 would challenge the trend.

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