Cowen Reiterates “$38.00” Price Target for GlaxoSmithKline (GSK)

GlaxoSmithKline (NYSE:GSK) has been assigned a $38.00 price objective by equities researchers at Cowen in a research note issued on Monday. The brokerage currently has a “hold” rating on the pharmaceutical company’s stock. Cowen’s target price points to a potential upside of 8.05% from the stock’s current price.

A number of other equities analysts have also recently commented on GSK. TheStreet raised shares of GlaxoSmithKline from a “c+” rating to a “b” rating in a research note on Wednesday, October 25th. UBS raised shares of GlaxoSmithKline from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $35.04 to $35.85 in a research note on Monday, November 27th. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Wednesday, October 18th. Argus reissued a “buy” rating and issued a $50.00 price objective on shares of GlaxoSmithKline in a research note on Thursday, August 31st. Finally, Investec cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $39.37.

GlaxoSmithKline (GSK) traded up $0.33 on Monday, reaching $35.17. 4,530,500 shares of the company traded hands, compared to its average volume of 3,524,805. The stock has a market capitalization of $86,495.23, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. GlaxoSmithKline has a 52 week low of $34.52 and a 52 week high of $44.53. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 2.96.

In other news, major shareholder Plc Glaxosmithkline bought 428,571 shares of the stock in a transaction dated Monday, November 6th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $5,999,994.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.00% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in GSK. FinTrust Investment Advisory Services LLC bought a new stake in GlaxoSmithKline during the 3rd quarter valued at about $401,000. Freestone Capital Holdings LLC lifted its holdings in GlaxoSmithKline by 11.9% during the 2nd quarter. Freestone Capital Holdings LLC now owns 94,008 shares of the pharmaceutical company’s stock valued at $4,054,000 after buying an additional 10,017 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in GlaxoSmithKline by 112.1% during the 2nd quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock valued at $402,655,000 after buying an additional 4,935,900 shares in the last quarter. Fulton Bank N.A. lifted its holdings in GlaxoSmithKline by 4.9% during the 3rd quarter. Fulton Bank N.A. now owns 75,269 shares of the pharmaceutical company’s stock valued at $3,056,000 after buying an additional 3,515 shares in the last quarter. Finally, First Bank & Trust lifted its holdings in GlaxoSmithKline by 20.8% during the 3rd quarter. First Bank & Trust now owns 44,540 shares of the pharmaceutical company’s stock valued at $1,808,000 after buying an additional 7,673 shares in the last quarter. Hedge funds and other institutional investors own 9.83% of the company’s stock.

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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 (NYSE:GSK)

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