GlaxoSmithKline plc (GSK) Reaches New 12-Month Low Following Analyst Downgrade

GlaxoSmithKline plc (LON:GSK)’s share price hit a new 52-week low during trading on Tuesday after Kepler Capital Markets lowered their price target on the stock from GBX 1,520 to GBX 1,340. Kepler Capital Markets currently has a reduce rating on the stock. GlaxoSmithKline plc traded as low as GBX 1,347 ($17.78) and last traded at GBX 1,357.50 ($17.91), with a volume of 11,051,346 shares traded. The stock had previously closed at GBX 1,372.50 ($18.11).

Several other research firms have also weighed in on GSK. UBS AG set a GBX 1,600 ($21.11) price objective on shares of GlaxoSmithKline plc and gave the stock a “neutral” rating in a research note on Wednesday, July 26th. HSBC Holdings plc set a GBX 1,925 ($25.40) price objective on shares of GlaxoSmithKline plc and gave the stock a “buy” rating in a research note on Thursday, October 26th. Deutsche Bank AG set a GBX 1,610 ($21.25) price objective on shares of GlaxoSmithKline plc and gave the stock a “neutral” rating in a research note on Friday, October 27th. Goldman Sachs Group, Inc. (The) set a GBX 1,900 ($25.07) price objective on shares of GlaxoSmithKline plc and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a GBX 1,900 ($25.07) price objective on shares of GlaxoSmithKline plc in a research note on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of GBX 1,623.50 ($21.42).

In other GlaxoSmithKline plc news, insider Simon Dingemans bought 1,076 shares of GlaxoSmithKline plc stock in a transaction that occurred on Thursday, October 12th. The stock was purchased at an average cost of GBX 1,527 ($20.15) per share, for a total transaction of £16,430.52 ($21,681.87). Also, insider Urs Rohner bought 473 shares of GlaxoSmithKline plc stock in a transaction that occurred on Wednesday, October 25th. The shares were acquired at an average price of GBX 1,518 ($20.03) per share, with a total value of £7,180.14 ($9,474.98). Insiders bought 1,574 shares of company stock valued at $2,398,888 over the last quarter.

GlaxoSmithKline plc (LON:GSK) last posted its quarterly earnings results on Wednesday, October 25th. The company reported GBX 32.50 ($0.43) earnings per share for the quarter, topping the Zacks’ consensus estimate of GBX 31.80 ($0.42) by GBX 0.70 ($0.01). The business had revenue of GBX 784.30 billion during the quarter. GlaxoSmithKline plc had a negative net margin of 1.17% and a negative return on equity of 57.19%.

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About GlaxoSmithKline plc

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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