GlaxoSmithKline (GSK) Shares Gap Up to $36.17

GlaxoSmithKline plc (NYSE:GSK) shares gapped up before the market opened on Friday . The stock had previously closed at $34.86, but opened at $36.17. GlaxoSmithKline shares last traded at $35.64, with a volume of 2873905 shares.

A number of brokerages have recently issued reports on GSK. Zacks Investment Research upgraded shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Wednesday, October 18th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline in a research note on Wednesday, October 18th. Bank of America lowered shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research note on Thursday, October 26th. ValuEngine lowered shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, UBS Group restated a “buy” rating on shares of GlaxoSmithKline in a research report on Monday, January 15th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.57.

The stock has a market cap of $90,520.00, a price-to-earnings ratio of 41.94, a PEG ratio of 2.31 and a beta of 0.98. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64.

GlaxoSmithKline (NYSE:GSK) last announced its quarterly earnings data on Wednesday, February 7th. The pharmaceutical company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.03. The business had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $9.89 billion. GlaxoSmithKline had a net margin of 4.97% and a return on equity of 121.27%. equities analysts expect that GlaxoSmithKline plc will post 2.8 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its position in GlaxoSmithKline by 132.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 717,841 shares of the pharmaceutical company’s stock worth $25,462,000 after purchasing an additional 408,441 shares during the last quarter. Virtu Financial LLC acquired a new position in GlaxoSmithKline during the fourth quarter worth approximately $4,517,000. AMG National Trust Bank increased its position in GlaxoSmithKline by 6.5% during the fourth quarter. AMG National Trust Bank now owns 88,387 shares of the pharmaceutical company’s stock worth $3,135,000 after purchasing an additional 5,411 shares during the last quarter. Independence Bank of Kentucky acquired a new position in GlaxoSmithKline during the fourth quarter worth approximately $883,000. Finally, Advisory Services Network LLC increased its position in GlaxoSmithKline by 300.0% during the fourth quarter. Advisory Services Network LLC now owns 16,406 shares of the pharmaceutical company’s stock worth $582,000 after purchasing an additional 12,304 shares during the last quarter. 9.66% of the stock is owned by hedge funds and other institutional investors.

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About GlaxoSmithKline

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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