Published On: Thu, Sep 15th, 2016

GlaxoSmithKline plc (GSK) Downgraded by BNP Paribas

GlaxoSmithKline plc (LON:GSK) was downgraded by stock analysts at BNP Paribas to an “underperform” rating in a report released on Wednesday. They currently have a GBX 1,520 ($20.25) price objective on the stock. BNP Paribas’ price objective would suggest a potential downside of 5.79% from the company’s current price.
A number of other brokerages have also issued reports on GSK. Beaufort Securities reissued a “buy” rating on shares of GlaxoSmithKline plc in a research note on Tuesday, August 2nd. Jefferies Group reissued a “buy” rating and set a GBX 2,000 ($26.64) target price on shares of GlaxoSmithKline plc in a research note on Friday, July 29th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline plc in a research note on Thursday, July 28th. Deutsche Bank AG reissued a “hold” rating and set a GBX 1,700 ($22.64) target price on shares of GlaxoSmithKline plc in a research note on Thursday, July 28th. Finally, Sanford C. Bernstein set a GBX 1,755 ($23.38) target price on shares of GlaxoSmithKline plc and gave the company a “neutral” rating in a research note on Thursday, July 28th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of GBX 1,676.44 ($22.33).
Shares of GlaxoSmithKline plc (LON:GSK) traded up 1.03% during trading on Wednesday, hitting GBX 1613.50. 8,598,882 shares of the stock traded hands. The firm has a 50 day moving average price of GBX 1,662.11 and a 200-day moving average price of GBX 1,522.63. The company’s market cap is GBX 78.43 billion. GlaxoSmithKline plc has a one year low of GBX 1,227.50 and a one year high of GBX 1,716.50.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/14/glaxosmithkline-plc-gsk-downgraded-by-bnp-paribas.html

The firm also recently declared a dividend, which will be paid on Thursday, October 13th. Investors of record on Thursday, August 11th will be paid a dividend of GBX 19 ($0.25) per share. This represents a dividend yield of 1.12%. The ex-dividend date of this dividend is Thursday, August 11th.
In related news, insider Witty,Sir Andrew P sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of GBX 1,693 ($22.55), for a total transaction of £169,300 ($225,492.81). Also, insider Cartwright,Stacey purchased 461 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The shares were acquired at an average cost of GBX 1,559 ($20.76) per share, with a total value of £7,186.99 ($9,572.44).
About GlaxoSmithKline plc
GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.

Receive News & Ratings for GlaxoSmithKline plc Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for GlaxoSmithKline plc and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>