GlaxoSmithKline PLC (NYSE:GSK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. Shares have underperformed the industry so far this year. 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 brokerages have also issued reports on GSK. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Friday, June 16th. ValuEngine lowered GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Berenberg Bank raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. BNP Paribas cut their target price on GlaxoSmithKline PLC to $37.00 in a research report on Thursday, April 6th. Finally, TheStreet raised GlaxoSmithKline PLC from a “c” rating to a “b” rating in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. GlaxoSmithKline PLC presently has an average rating of “Hold” and an average target price of $46.00.

Shares of GlaxoSmithKline PLC (NYSE GSK) opened at 42.77 on Friday. The stock has a 50 day moving average price of $43.28 and a 200 day moving average price of $41.70. 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 $104.49 billion, a P/E ratio of 48.60 and a beta of 1.04.

GlaxoSmithKline PLC (NYSE:GSK) last announced its earnings results on Wednesday, April 26th. The pharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.62. The company had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.09 billion. GlaxoSmithKline PLC had a return on equity of 113.31% and a net margin of 5.48%. Equities analysts forecast that GlaxoSmithKline PLC will post $2.86 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of GSK. First National Bank of Omaha increased its position in shares of GlaxoSmithKline PLC by 0.3% in the second quarter. First National Bank of Omaha now owns 19,177 shares of the pharmaceutical company’s stock worth $827,000 after buying an additional 57 shares during the last quarter. Pekin Singer Strauss Asset Management IL increased its position in shares of GlaxoSmithKline PLC by 1.1% in the first quarter. Pekin Singer Strauss Asset Management IL now owns 5,516 shares of the pharmaceutical company’s stock worth $233,000 after buying an additional 60 shares during the last quarter. Baystate Wealth Management LLC increased its position in shares of GlaxoSmithKline PLC by 1.4% in the second quarter. Baystate Wealth Management LLC now owns 5,520 shares of the pharmaceutical company’s stock worth $233,000 after buying an additional 75 shares during the last quarter. Court Place Advisors LLC increased its position in shares of GlaxoSmithKline PLC by 1.0% in the first quarter. Court Place Advisors LLC now owns 8,481 shares of the pharmaceutical company’s stock worth $358,000 after buying an additional 84 shares during the last quarter. Finally, Mitchell Sinkler & Starr PA increased its position in shares of GlaxoSmithKline PLC by 1.6% in the second quarter. Mitchell Sinkler & Starr PA now owns 6,323 shares of the pharmaceutical company’s stock worth $273,000 after buying an additional 100 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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Analyst Recommendations for GlaxoSmithKline PLC (NYSE:GSK)

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