GlaxoSmithKline (NYSE:GSK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $41.00 price objective on the pharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.57% from the company’s previous close.
According to Zacks, “We are positive on Glaxo’s efforts to develop its pipeline. We think Glaxo possesses one of the stronger late-stage pipelines in large-cap pharma. Data from several of the late-state pipeline programs are expected in 2018. Performance of new products has been encouraging. Meanwhile, back-to-back approvals of three new products – Trelegy Ellipta, Shingrix and Juluca – have strengthened Glaxo’s competitive position. After underperforming the broader industry in 2017, Glaxo’s shares have picked up this year. However, persistent challenges like stiff competition, genericization and pricing pressure along with slowing growth in emerging markets have been impacting the company’s performance. Meanwhile its top-selling respiratory product, Advair is also expected to face generic competition in the United States this year, which will hurt sales.”
A number of other analysts have also issued reports on GSK. Morgan Stanley upgraded GlaxoSmithKline from an “underweight” rating to an “equal weight” rating in a report on Thursday. ValuEngine lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Kepler Capital Markets upgraded GlaxoSmithKline from a “reduce” rating to a “hold” rating in a report on Friday, February 9th. JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a report on Monday, January 29th. Finally, TheStreet lowered GlaxoSmithKline from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. GlaxoSmithKline has a consensus rating of “Hold” and a consensus price target of $38.77.
GlaxoSmithKline (NYSE:GSK) last announced its quarterly earnings results on Wednesday, February 7th. The pharmaceutical company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. The firm had revenue of $10.14 billion during the quarter, compared to analyst estimates of $9.89 billion. GlaxoSmithKline had a return on equity of 130.63% and a net margin of 4.97%. research analysts expect that GlaxoSmithKline will post 2.93 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of GSK. SG Americas Securities LLC purchased a new stake in shares of GlaxoSmithKline during the 3rd quarter valued at $1,209,000. Ameriprise Financial Inc. lifted its holdings in shares of GlaxoSmithKline by 7.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,855,142 shares of the pharmaceutical company’s stock valued at $75,028,000 after purchasing an additional 122,634 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of GlaxoSmithKline by 35.8% during the 3rd quarter. Park Avenue Securities LLC now owns 11,716 shares of the pharmaceutical company’s stock valued at $479,000 after purchasing an additional 3,088 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of GlaxoSmithKline by 10.1% during the 3rd quarter. Van ECK Associates Corp now owns 343,461 shares of the pharmaceutical company’s stock valued at $13,945,000 after purchasing an additional 31,611 shares during the last quarter. Finally, NorthCoast Asset Management LLC lifted its holdings in shares of GlaxoSmithKline by 111.6% during the 3rd quarter. NorthCoast Asset Management LLC now owns 119,825 shares of the pharmaceutical company’s stock valued at $4,865,000 after purchasing an additional 63,191 shares during the last quarter. Institutional investors own 10.96% 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.
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