J P Morgan Chase & Co Trims GlaxoSmithKline plc (GSK) Target Price to GBX 1,330

GlaxoSmithKline plc (LON:GSK) had its price objective trimmed by J P Morgan Chase & Co from GBX 1,570 ($20.72) to GBX 1,330 ($17.55) in a research note released on Sunday morning, StockTargetPrices.com reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts have also commented on GSK. Barclays PLC reiterated an equal weight rating and set a GBX 1,550 ($20.45) price target on shares of GlaxoSmithKline plc in a research note on Monday, July 3rd. Citigroup Inc. lowered shares of GlaxoSmithKline plc from a buy rating to a neutral rating and set a GBX 1,700 ($22.43) price target on the stock. in a research note on Wednesday, July 5th. Jefferies Group LLC reiterated a buy rating and set a GBX 1,900 ($25.07) price target on shares of GlaxoSmithKline plc in a research note on Thursday, July 13th. Shore Capital reiterated a hold rating on shares of GlaxoSmithKline plc in a research note on Friday, July 14th. Finally, Morgan Stanley reiterated an equal weight rating and set a GBX 1,700 ($22.43) price target on shares of GlaxoSmithKline plc in a research note on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. GlaxoSmithKline plc currently has an average rating of Hold and an average target price of GBX 1,623.50 ($21.42).

GlaxoSmithKline plc (LON GSK) opened at 1357.50 on Friday. GlaxoSmithKline plc has a 12 month low of GBX 1,347.00 and a 12 month high of GBX 1,724.50. The stock’s 50 day moving average price is GBX 1,484.09 and its 200-day moving average price is GBX 1,568.30. The firm’s market capitalization is GBX 66.35 billion.

GlaxoSmithKline plc (LON:GSK) last announced its quarterly earnings results on Wednesday, October 25th. The company reported GBX 32.50 ($0.43) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of GBX 31.80 ($0.42) by GBX 0.70 ($0.01). GlaxoSmithKline plc had a negative net margin of 1.17% and a negative return on equity of 57.19%. The firm had revenue of GBX 784.30 billion for the quarter. Equities analysts forecast that GlaxoSmithKline plc will post $110.55 earnings per share for the current year.

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

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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