Barclays Downgrades GlaxoSmithKline (GSK) to Equal Weight
GlaxoSmithKline (LON:GSK) was downgraded by investment analysts at Barclays to an “equal weight” rating in a research report issued on Tuesday. They currently have a GBX 1,600 ($20.91) price target on the stock, down from their prior price target of GBX 1,750 ($22.87). Barclays’ price objective suggests a potential upside of 9.68% from the company’s current price.
Other analysts also recently issued reports about the company. Shore Capital restated a “buy” rating on shares of GlaxoSmithKline in a research note on Tuesday, August 7th. Berenberg Bank restated a “buy” rating and issued a GBX 1,790 ($23.39) target price on shares of GlaxoSmithKline in a research note on Thursday, August 23rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a GBX 1,600 ($20.91) target price on shares of GlaxoSmithKline in a research note on Tuesday, August 21st. Jefferies Financial Group set a GBX 1,775 ($23.19) target price on GlaxoSmithKline and gave the company a “buy” rating in a research note on Thursday, August 16th. Finally, Liberum Capital restated a “buy” rating on shares of GlaxoSmithKline in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. GlaxoSmithKline presently has an average rating of “Hold” and a consensus price target of GBX 1,518.84 ($19.85).
Shares of GSK stock traded down GBX 52.20 ($0.68) during mid-day trading on Tuesday, hitting GBX 1,458.80 ($19.06). The company’s stock had a trading volume of 9,717,432 shares, compared to its average volume of 9,120,000. GlaxoSmithKline has a 52 week low of GBX 1,235.20 ($16.14) and a 52 week high of GBX 1,724.50 ($22.53).
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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