GlaxoSmithKline (NYSE:GSK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Glaxo enjoys a diversified base and presence in different geographical areas. Glaxo should continue to see strong performance in its Pharmaceuticals and Vaccines business units. We are positive on the company’s efforts to develop its pipeline. We think Glaxo possesses one of the stronger late-stage pipelines in large-cap pharma. Performance of new products has been encouraging. Meanwhile, back-to-back approvals of three new products – Trelegy Ellipta, Shingrix and Jucalla – have strengthened Glaxo’s competitive position. However, persistent challenges like stiff competition, genericization and pricing pressure along with slowing growth in emerging markets have been impacting the company’s performance. The slowdown in sales of the Consumer Healthcare segment in 2017 is also a concern. Estimates have declined slightly ahead of Q4 earnings release. However, Glaxo has a positive record of earnings surprises in recent quarters.”

Several other brokerages also recently commented on GSK. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, October 24th. Investec downgraded GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Monday, November 6th. TheStreet raised GlaxoSmithKline from a “c+” rating to a “b” rating in a report on Wednesday, October 25th. Bank of America downgraded GlaxoSmithKline from a “buy” rating to a “neutral” rating in a report on Thursday, October 26th. Finally, Argus cut their target price on GlaxoSmithKline to $40.00 and set a “buy” rating on the stock in a report on Thursday, November 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $38.57.

Shares of GlaxoSmithKline (NYSE:GSK) traded up $0.23 on Wednesday, reaching $38.15. The company’s stock had a trading volume of 6,390,292 shares, compared to its average volume of 5,480,000. The firm has a market cap of $93,200.00, a P/E ratio of 29.12, a PEG ratio of 2.15 and a beta of 0.97. GlaxoSmithKline has a 52-week low of $34.52 and a 52-week high of $44.53. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.64 and a quick ratio of 0.44.

GlaxoSmithKline (NYSE:GSK) last announced its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. GlaxoSmithKline had a return on equity of 115.30% and a net margin of 7.79%. equities research analysts forecast that GlaxoSmithKline will post 2.9 EPS for the current fiscal year.

In other GlaxoSmithKline news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were bought at an average cost of $14.00 per share, with a total value of $5,999,994.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.00% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. 1st Global Advisors Inc. lifted its stake in shares of GlaxoSmithKline by 0.4% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,271 shares of the pharmaceutical company’s stock valued at $227,000 after purchasing an additional 19 shares during the period. King Luther Capital Management Corp lifted its stake in shares of GlaxoSmithKline by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 5,432 shares of the pharmaceutical company’s stock valued at $234,000 after purchasing an additional 55 shares during the period. PagnatoKarp Partners LLC lifted its stake in shares of GlaxoSmithKline by 1.4% in the 2nd quarter. PagnatoKarp Partners LLC now owns 5,812 shares of the pharmaceutical company’s stock valued at $253,000 after purchasing an additional 80 shares during the period. Peapack Gladstone Financial Corp raised its stake in GlaxoSmithKline by 1.0% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 11,740 shares of the pharmaceutical company’s stock worth $506,000 after buying an additional 115 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in GlaxoSmithKline by 3.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock worth $162,000 after buying an additional 148 shares during the period. 9.80% of the stock is currently owned by institutional investors.

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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.

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