GlaxoSmithKline PLC (NYSE:GSK) was downgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued on Friday, MarketBeat reports.

Several other research analysts also recently issued reports on the stock. Argus reiterated a “buy” rating and set a $50.00 price target on shares of GlaxoSmithKline PLC in a report on Thursday, August 31st. BidaskClub upgraded shares of GlaxoSmithKline PLC from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. TheStreet downgraded shares of GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. Citigroup Inc. reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Thursday, July 27th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $46.00.

GlaxoSmithKline PLC (NYSE GSK) traded down 0.1833% during midday trading on Friday, hitting $40.0764. The stock had a trading volume of 1,276,927 shares. GlaxoSmithKline PLC has a 1-year low of $37.20 and a 1-year high of $44.54. The stock has a market cap of $97.95 billion, a price-to-earnings ratio of 39.8374 and a beta of 1.03. The company has a 50-day moving average of $40.09 and a 200-day moving average of $41.82.

GlaxoSmithKline PLC (NYSE:GSK) last announced its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $9.36 billion during the quarter, compared to the consensus estimate of $9.52 billion. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. Equities research analysts forecast that GlaxoSmithKline PLC will post $2.86 EPS for the current year.

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A number of institutional investors and hedge funds have recently modified their holdings of GSK. Renaissance Technologies LLC boosted its position in shares of GlaxoSmithKline PLC by 112.1% during the 2nd quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock worth $402,655,000 after purchasing an additional 4,935,900 shares in the last quarter. FMR LLC boosted its position in shares of GlaxoSmithKline PLC by 11.7% during the 1st quarter. FMR LLC now owns 23,635,038 shares of the pharmaceutical company’s stock worth $996,452,000 after purchasing an additional 2,482,009 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in shares of GlaxoSmithKline PLC by 87,023.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 1,373,066 shares of the pharmaceutical company’s stock worth $57,884,000 after purchasing an additional 1,371,490 shares in the last quarter. Bank of America Corp DE boosted its position in shares of GlaxoSmithKline PLC by 15.8% during the 1st quarter. Bank of America Corp DE now owns 6,849,632 shares of the pharmaceutical company’s stock worth $288,780,000 after purchasing an additional 934,928 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in shares of GlaxoSmithKline PLC by 22.7% during the 2nd quarter. Federated Investors Inc. PA now owns 4,511,155 shares of the pharmaceutical company’s stock worth $194,521,000 after purchasing an additional 833,501 shares in the last quarter. 9.28% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for GlaxoSmithKline PLC (NYSE:GSK)

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