GlaxoSmithKline (NYSE:GSK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday. They presently have a $46.00 price objective on the pharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 13.24% from the company’s previous close.
According to Zacks, “We believe that the performance of Glaxo’s 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 further hurt sales. The slowdown in sales of the Consumer Healthcare segment in 2017 is also a concern. Estimates movement has been mixed ahead of Q1 earnings release. However, Glaxo has a positive record of earnings surprises in recent quarters.”
Other equities research analysts have also issued reports about the stock. UBS reissued a “buy” rating on shares of GlaxoSmithKline in a report on Monday, January 15th. TheStreet lowered shares of GlaxoSmithKline from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Morgan Stanley raised shares of GlaxoSmithKline from an “underweight” rating to an “equal weight” rating in a report on Thursday, March 22nd. ValuEngine downgraded shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Cowen restated a “hold” rating and set a $40.00 target price on shares of GlaxoSmithKline in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $40.46.
GlaxoSmithKline (NYSE:GSK) last announced its quarterly earnings data on Wednesday, February 7th. The pharmaceutical company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $9.89 billion. GlaxoSmithKline had a net margin of 4.97% and a return on equity of 130.63%. sell-side analysts anticipate that GlaxoSmithKline will post 2.94 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in GlaxoSmithKline by 2.4% during the fourth quarter. Renaissance Technologies LLC now owns 9,668,300 shares of the pharmaceutical company’s stock valued at $342,935,000 after purchasing an additional 230,600 shares during the period. Two Sigma Advisers LP lifted its position in GlaxoSmithKline by 55.5% during the fourth quarter. Two Sigma Advisers LP now owns 5,074,642 shares of the pharmaceutical company’s stock valued at $179,998,000 after purchasing an additional 1,811,400 shares during the period. Two Sigma Investments LP raised its position in shares of GlaxoSmithKline by 23.7% in the fourth quarter. Two Sigma Investments LP now owns 2,388,168 shares of the pharmaceutical company’s stock worth $84,708,000 after acquiring an additional 457,276 shares during the period. Brandes Investment Partners LP raised its position in shares of GlaxoSmithKline by 6.1% in the fourth quarter. Brandes Investment Partners LP now owns 2,262,946 shares of the pharmaceutical company’s stock worth $80,267,000 after acquiring an additional 130,182 shares during the period. Finally, Millennium Management LLC raised its position in shares of GlaxoSmithKline by 259.7% in the fourth quarter. Millennium Management LLC now owns 1,825,451 shares of the pharmaceutical company’s stock worth $64,749,000 after acquiring an additional 1,318,012 shares during the period. Institutional investors own 10.97% of the company’s stock.
GlaxoSmithKline Company Profile
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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