Zacks Investment Research Upgrades GlaxoSmithKline plc (GSK) to “Buy”
GlaxoSmithKline plc (NYSE:GSK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $47.00 price objective on the pharmaceutical company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.77% from the stock’s previous close.
According to Zacks, “Glaxo should continue to see strong performances by all of its business segments – Pharmaceuticals, Vaccines and Consumer Healthcare. We are positive on Glaxo’s efforts to develop its pipeline as well. Performance of new products as well as of those acquired from Novartis has been encouraging. However, persistent challenges like stiff competition, genericization and pricing pressure along with slowing growth in emerging markets have been affecting the company’s performance. In particular, pricing dynamics and competitive pressure are hurting sales of its top-selling drug Advair. Meanwhile, Advair is expected to face generic competition in the U.S. soon which will further hurt sales. However, estimates have risen ahead of Glaxo’s Q2 earnings release. The company also recorded a string of positive earnings surprises in recent quarters.”
A number of other equities analysts have also weighed in on GSK. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline plc in a research note on Wednesday, April 5th. BNP Paribas upgraded GlaxoSmithKline plc from an “underperform” rating to a “neutral” rating and decreased their target price for the stock from $45.58 to $37.20 in a research report on Wednesday, April 5th. Exane BNP Paribas upgraded GlaxoSmithKline plc from an “underperform” rating to a “neutral” rating in a research report on Wednesday, April 5th. TheStreet upgraded GlaxoSmithKline plc from a “c” rating to a “b” rating in a research report on Friday, May 19th. Finally, Berenberg Bank upgraded GlaxoSmithKline plc from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $46.00.
Shares of GlaxoSmithKline plc (NYSE:GSK) traded up 0.40% during mid-day trading on Tuesday, reaching $42.43. The company had a trading volume of 1,880,327 shares. The firm has a 50 day moving average of $43.56 and a 200-day moving average of $41.27. GlaxoSmithKline plc has a one year low of $37.20 and a one year high of $45.58. The stock has a market capitalization of $103.66 billion, a P/E ratio of 47.78 and a beta of 1.05.
GlaxoSmithKline plc (NYSE:GSK) last released its quarterly earnings data on Wednesday, April 26th. The pharmaceutical company reported $0.62 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.62. The firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.09 billion. GlaxoSmithKline plc had a return on equity of 295.67% and a net margin of 16.56%. Analysts forecast that GlaxoSmithKline plc will post $2.86 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its stake in shares of GlaxoSmithKline plc by 45.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,410 shares of the pharmaceutical company’s stock valued at $102,000 after buying an additional 753 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of GlaxoSmithKline plc by 1,747.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,494 shares of the pharmaceutical company’s stock valued at $105,000 after buying an additional 2,359 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of GlaxoSmithKline plc by 233.0% in the first quarter. Proficio Capital Partners LLC now owns 2,844 shares of the pharmaceutical company’s stock valued at $122,000 after buying an additional 1,990 shares during the last quarter. Heritage Trust Co acquired a new stake in shares of GlaxoSmithKline plc during the first quarter valued at $123,000. Finally, Westwood Holdings Group Inc. increased its stake in shares of GlaxoSmithKline plc by 15.7% in the first quarter. Westwood Holdings Group Inc. now owns 2,950 shares of the pharmaceutical company’s stock valued at $124,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 8.96% of the company’s stock.
GlaxoSmithKline plc Company Profile
GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
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