Berenberg Bank Reiterates Buy Rating for GlaxoSmithKline (LON:GSK)

GlaxoSmithKline (LON:GSK – Get Rating)‘s stock had its “buy” rating reaffirmed by investment analysts at Berenberg Bank in a report issued on Thursday, LSE.Co.UK reports. They presently have a GBX 1,850 ($23.28) price objective on the stock. Berenberg Bank’s price target would indicate a potential upside of 6.41% from the stock’s previous close.

Several other research firms have also recently issued reports on GSK. Jefferies Financial Group set a GBX 2,100 ($26.43) price target on GlaxoSmithKline in a research note on Wednesday, April 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a GBX 1,900 ($23.91) target price on shares of GlaxoSmithKline in a research note on Friday, May 13th. Barclays reaffirmed an “equal weight” rating and set a GBX 1,800 ($22.65) target price on shares of GlaxoSmithKline in a research note on Monday, May 16th. UBS Group set a GBX 1,790 ($22.52) target price on GlaxoSmithKline in a research note on Thursday, April 28th. Finally, Liberum Capital increased their price target on GlaxoSmithKline from GBX 1,870 ($23.53) to GBX 1,910 ($24.03) and gave the company a “buy” rating in a research report on Tuesday, February 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, GlaxoSmithKline currently has an average rating of “Hold” and an average price target of GBX 1,746.79 ($21.98).

LON:GSK opened at GBX 1,738.60 ($21.88) on Thursday. GlaxoSmithKline has a 1 year low of GBX 1,330.40 ($16.74) and a 1 year high of GBX 1,817 ($22.86). The stock has a market cap of £87.45 billion and a price-to-earnings ratio of 17.23. The business has a fifty day moving average of GBX 1,733.37 and a 200-day moving average of GBX 1,639.43. The company has a debt-to-equity ratio of 147.36, a quick ratio of 0.94 and a current ratio of 1.19.

In other GlaxoSmithKline news, insider Charles Bancroft bought 2,790 shares of the stock in a transaction on Wednesday, March 23rd. The shares were purchased at an average price of GBX 2,114 ($26.60) per share, with a total value of £58,980.60 ($74,217.44).

About GlaxoSmithKline (Get Rating)

GlaxoSmithKline plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

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