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.
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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.
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