GlaxoSmithKline (NYSE:GSK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. Glaxo’s shares have underperformed the broader industry in the past year. Moreover, 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 also recently issued reports on the stock. Cowen reissued a “hold” rating and set a $40.00 target price on shares of GlaxoSmithKline in a research report on Thursday, February 15th. Kepler Capital Markets raised shares of GlaxoSmithKline from a “reduce” rating to a “hold” rating in a research report on Friday, February 9th. TheStreet downgraded shares of GlaxoSmithKline from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a research report on Monday, February 5th. Finally, ValuEngine downgraded shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $38.77.
GSK stock traded up $0.05 on Wednesday, reaching $36.81. 919,121 shares of the company were exchanged, compared to its average volume of 4,108,084. The firm has a market cap of $91,466.32, a P/E ratio of 46.60, a PEG ratio of 2.24 and a beta of 0.95. GlaxoSmithKline has a 12-month low of $34.52 and a 12-month high of $44.53. The company has a debt-to-equity ratio of 4.09, a quick ratio of 0.39 and a current ratio of 0.60.
GlaxoSmithKline (NYSE:GSK) last posted its earnings results on Wednesday, February 7th. The pharmaceutical company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.03. The firm had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $9.89 billion. GlaxoSmithKline had a net margin of 4.97% and a return on equity of 130.63%. analysts expect that GlaxoSmithKline will post 2.95 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its holdings in GlaxoSmithKline by 5.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 107,873 shares of the pharmaceutical company’s stock worth $3,826,000 after acquiring an additional 5,582 shares during the period. OLD Republic International Corp boosted its holdings in GlaxoSmithKline by 22.1% in the 4th quarter. OLD Republic International Corp now owns 1,538,500 shares of the pharmaceutical company’s stock worth $54,571,000 after acquiring an additional 278,000 shares during the period. Letko Brosseau & Associates Inc. boosted its holdings in GlaxoSmithKline by 3.0% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,027,688 shares of the pharmaceutical company’s stock worth $36,452,000 after acquiring an additional 30,000 shares during the period. Delek Group Ltd. purchased a new position in GlaxoSmithKline in the 4th quarter worth approximately $1,229,000. Finally, Sawtooth Solutions LLC boosted its holdings in GlaxoSmithKline by 316.0% in the 4th quarter. Sawtooth Solutions LLC now owns 24,054 shares of the pharmaceutical company’s stock worth $853,000 after acquiring an additional 18,272 shares during the period. Hedge funds and other 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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