GlaxoSmithKline (GSK) Price Target Cut to GBX 1,400 by Analysts at Morgan Stanley

GlaxoSmithKline (LON:GSK) had its price objective reduced by equities research analysts at Morgan Stanley from GBX 1,450 ($19.42) to GBX 1,400 ($18.75) in a note issued to investors on Friday. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 7.78% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Liberum Capital restated a “buy” rating and set a GBX 1,900 ($25.45) target price on shares of GlaxoSmithKline in a report on Wednesday, August 30th. Goldman Sachs Group restated a “buy” rating and set a GBX 1,900 ($25.45) target price on shares of GlaxoSmithKline in a report on Tuesday, October 17th. S&P Global set a GBX 1,500 ($20.09) target price on shares of GlaxoSmithKline and gave the stock a “neutral” rating in a report on Thursday, October 26th. HSBC restated a “buy” rating and set a GBX 1,925 ($25.78) target price on shares of GlaxoSmithKline in a report on Wednesday, November 22nd. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a GBX 1,570 ($21.03) target price on shares of GlaxoSmithKline in a report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of GBX 1,581.90 ($21.19).

Shares of GlaxoSmithKline (LON GSK) opened at GBX 1,299 ($17.40) on Friday. GlaxoSmithKline has a 12 month low of GBX 1,291.50 ($17.30) and a 12 month high of GBX 1,724.50 ($23.09).

GlaxoSmithKline (LON:GSK) last issued its earnings results on Wednesday, October 25th. The company reported GBX 32.50 ($0.44) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of GBX 31.80 ($0.43) by GBX 0.70 ($0.01). GlaxoSmithKline had a net margin of 17.79% and a return on equity of 461.88%. The firm had revenue of GBX 784.30 billion during the quarter.

In other GlaxoSmithKline news, insider Simon Dingemans purchased 1,076 shares of GlaxoSmithKline stock in a transaction on Thursday, October 12th. The shares were bought at an average price of GBX 1,527 ($20.45) per share, with a total value of £16,430.52 ($22,004.18). Also, insider Urs Rohner purchased 473 shares of GlaxoSmithKline stock in a transaction on Wednesday, October 25th. The shares were acquired at an average cost of GBX 1,518 ($20.33) per share, for a total transaction of £7,180.14 ($9,615.83). Insiders have purchased a total of 1,576 shares of company stock worth $2,400,376 in the last quarter.

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GlaxoSmithKline 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 (LON:GSK)

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