![]() ![]() At its current levels, RHHBY stock is trading at just 15x forward adjusted earnings, compared to the last three-year average of 17x, making the stock attractive from a valuation point of view. We estimate Roche’s valuation to be $59 per share, reflecting over a 40% upside from its current market price of $42, implying that investors are likely to be better off buying RHHBY stock in the recent dip for solid gains in the long-term. However, most of these factors appear to have already been priced in by the investors, given the decline in RHHBY stock. The S&P500 has now entered the bear market territory with rising concerns of slowing economic growth given the high inflation, Fed action, and supply chain disruptions. RHHBY stock also faces headwinds from the current weakness in broader markets. A slowdown in global economic growth due to rising inflation is not great news either. Looking forward, Roche will continue to face headwinds from biosimilar competition and likely face a sales decline from lower demand for Covid-19 testing. Roche will continue to examine Tiragolumab while it has another Alzheimer’s treatment - Gantenerumab - in the pipeline. If successful, both of the above drugs would have been potential blockbuster drugs. The company’s immunotherapy - Tiragolumab - could not meet its endpoint in a late-stage clinical trial for a lung cancer subtype. Its Alzheimer’s treatment - Crenezumab - failed to slow or prevent cognitive decline in Alzheimer’s patients. Some of Roche’s clinical trial findings weren’t favorable this year. ![]() A surge in Covid-19 cases aided the company’s diagnostics business in Q1, with an increased demand for its testing. Looking at the company’s latest quarterly results, its top-line grew 11% on a constant exchange rate basis, with the diagnostics business seeing a 24% rise and pharmaceuticals up 6%. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. ![]() The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. It should also be noted that TAGS maintains a considerably more focused portfolio than many other agricultural commodity ETFs this fund focuses on the four primary agricultural commodities, without diversifying into other resources.Ĭopyright MSCI ESG Research LLC. As such, it should be noted that TAGS will not necessarily reflect movements in spot prices of the underlying commodities, but rather the performance of a futures-based strategy (meaning that the slope of the futures curve will impact returns). Those ETFs in turn hold futures contracts linked to the actual commodities. First, the underlying holdings of this ETF are actually other ETFs offered by Teucrium. There are several noteworthy attributes about TAGS. While TAGS might not have tremendous appeal in a long-term, buy-and-hold portfolio, it can be an efficient tool for those looking to establish tactical exposure to this corner of the market. ![]() As such, TAGS is one of several options available to investors looking to maintain exposure to agricultural commodities, an asset class that may have appeal as a hedge against inflation or a way to bet on rising natural resource prices around the globe. This ETF offers exposure to four major agricultural commodities, including corn, sugar, soybeans, and wheat. ![]()
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