GlaxoSmithKline (NYSE:GSK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $45.00 price target on the pharmaceutical company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.97% from the stock’s current price.
According to Zacks, “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. Estimates have gone up ahead of Q1 earnings release. However, Glaxo has a positive record of earnings surprises in recent quarters.”
A number of other brokerages have also commented on GSK. Kepler Capital Markets raised GlaxoSmithKline from a “reduce” rating to a “hold” rating in a research report on Friday, February 9th. Cowen reaffirmed a “hold” rating and issued a $40.00 target price on shares of GlaxoSmithKline in a research report on Thursday, February 15th. ValuEngine lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. JPMorgan Chase reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research report on Thursday, January 11th. Finally, Deutsche Bank reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research report on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $40.21.
GlaxoSmithKline (NYSE:GSK) last issued its earnings results on Wednesday, February 7th. The pharmaceutical company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. GlaxoSmithKline had a return on equity of 130.63% and a net margin of 4.97%. The business had revenue of $10.14 billion during the quarter, compared to analyst estimates of $9.89 billion. sell-side analysts expect that GlaxoSmithKline will post 2.94 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. Profund Advisors LLC boosted its stake in GlaxoSmithKline by 3.0% during the 4th quarter. Profund Advisors LLC now owns 52,264 shares of the pharmaceutical company’s stock valued at $1,854,000 after purchasing an additional 1,519 shares during the last quarter. Atria Investments LLC boosted its stake in GlaxoSmithKline by 17.1% during the 4th quarter. Atria Investments LLC now owns 12,830 shares of the pharmaceutical company’s stock valued at $455,000 after purchasing an additional 1,874 shares during the last quarter. Canandaigua National Bank & Trust Co. boosted its stake in GlaxoSmithKline by 14.6% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 15,297 shares of the pharmaceutical company’s stock valued at $543,000 after purchasing an additional 1,950 shares during the last quarter. Hoertkorn Richard Charles boosted its stake in GlaxoSmithKline by 4.5% during the 4th quarter. Hoertkorn Richard Charles now owns 48,075 shares of the pharmaceutical company’s stock valued at $1,705,000 after purchasing an additional 2,050 shares during the last quarter. Finally, IFC Holdings Incorporated FL boosted its stake in GlaxoSmithKline by 15.2% during the 4th quarter. IFC Holdings Incorporated FL now owns 15,744 shares of the pharmaceutical company’s stock valued at $560,000 after purchasing an additional 2,079 shares during the last quarter. Institutional investors and hedge funds own 10.96% of the company’s stock.
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GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.
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