Zacks Investment Research upgraded shares of GlaxoSmithKline (NYSE:GSK) from a hold rating to a buy rating in a research note released on Tuesday, January 9th. The firm currently has $42.00 price objective on the pharmaceutical company’s stock.
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 this year 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.”
Other equities research analysts have also recently issued research reports about the company. TheStreet upgraded GlaxoSmithKline from a c+ rating to a b rating in a research note on Wednesday, October 25th. Argus dropped their price target on GlaxoSmithKline to $40.00 and set a buy rating on the stock in a research note on Thursday, November 30th. UBS Group raised GlaxoSmithKline from a neutral rating to a buy rating and upped their price objective for the company from $35.04 to $35.85 in a report on Monday, November 27th. ValuEngine lowered GlaxoSmithKline from a buy rating to a hold rating in a report on Sunday, December 31st. Finally, Cowen set a $38.00 price objective on GlaxoSmithKline and gave the company a hold rating in a report on Monday, December 11th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $38.57.
Shares of GlaxoSmithKline (GSK) opened at $37.10 on Tuesday. GlaxoSmithKline has a 12 month low of $34.52 and a 12 month 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. The firm has a market capitalization of $91,969.94, a price-to-earnings ratio of 30.41, a P/E/G ratio of 2.30 and a beta of 0.98.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. SeaCrest Wealth Management LLC acquired a new stake in shares of GlaxoSmithKline during the 4th quarter worth $402,000. Global Trust Asset Management LLC acquired a new stake in shares of GlaxoSmithKline during the 4th quarter worth $247,000. Family Legacy Inc. grew its holdings in shares of GlaxoSmithKline by 43.4% during the 4th quarter. Family Legacy Inc. now owns 11,475 shares of the pharmaceutical company’s stock worth $407,000 after purchasing an additional 3,475 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in shares of GlaxoSmithKline during the 4th quarter worth $718,000. Finally, Allied Investment Advisors LLC acquired a new stake in shares of GlaxoSmithKline during the 4th quarter worth $257,000. 9.70% of the stock is currently owned by hedge funds and other 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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