Zacks Investment Research lowered shares of GlaxoSmithKline (NYSE:GSK) from a buy rating to a hold rating in a research report sent to investors on Thursday, January 4th.

According to Zacks, “We are positive on Glaxo’s efforts to develop its pipeline. Performance of new products has been encouraging. Meanwhile, back-to-back approvals of three new products – Trelegy Ellipta, Shingrix and Jucalla – have strengthened Glaxo’s competitive position. However, persistent challenges like stiff competition, genericization and pricing pressure along with slowing growth in emerging markets have been impacting the company’s performance. Meanwhile, its top-selling respiratory product, Advair is also expected to face generic competition in the United States next year, which will further hurt sales. The slowdown in sales of the Consumer Healthcare segment this year is also a concern. Glaxo’s shares underperformed the broader industry in 2017. However, estimates have gone up slightly ahead of Q4 earnings release. The company has a positive record of earnings surprises in recent quarters.”

A number of other equities research analysts also recently commented on GSK. Morgan Stanley downgraded GlaxoSmithKline from an equal weight rating to an underweight rating in a research report on Friday, September 8th. UBS Group raised shares of GlaxoSmithKline from a neutral rating to a buy rating and boosted their target price for the company from $35.04 to $35.85 in a research note on Monday, November 27th. TheStreet raised shares of GlaxoSmithKline from a c+ rating to a b rating in a research note on Wednesday, October 25th. JPMorgan Chase & Co. reissued a neutral rating on shares of GlaxoSmithKline in a research note on Tuesday, October 24th. Finally, Argus cut their target price on shares of GlaxoSmithKline to $40.00 and set a buy rating on the stock in a research note on Thursday, November 30th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. GlaxoSmithKline presently has an average rating of Hold and a consensus price target of $38.57.

GlaxoSmithKline (NYSE:GSK) traded down $0.23 on Thursday, reaching $38.24. The company’s stock had a trading volume of 1,647,300 shares, compared to its average volume of 5,122,542. The firm has a market capitalization of $96,779.15, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.98. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.64 and a quick ratio of 0.44. GlaxoSmithKline has a 12-month low of $34.52 and a 12-month high of $44.53.

In other news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $14.00 per share, for a total transaction of $5,999,994.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FinTrust Investment Advisory Services LLC acquired a new stake in shares of GlaxoSmithKline during the third quarter worth approximately $401,000. Private Advisor Group LLC boosted its stake in GlaxoSmithKline by 7.2% in the third quarter. Private Advisor Group LLC now owns 77,976 shares of the pharmaceutical company’s stock valued at $3,166,000 after acquiring an additional 5,212 shares during the last quarter. San Francisco Sentry Investment Group CA boosted its position in shares of GlaxoSmithKline by 110.3% during the third quarter. San Francisco Sentry Investment Group CA now owns 8,749 shares of the pharmaceutical company’s stock worth $356,000 after purchasing an additional 4,589 shares in the last quarter. Freestone Capital Holdings LLC boosted its position in shares of GlaxoSmithKline by 11.9% during the second quarter. Freestone Capital Holdings LLC now owns 94,008 shares of the pharmaceutical company’s stock worth $4,054,000 after purchasing an additional 10,017 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of GlaxoSmithKline by 112.1% during the second quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock worth $402,655,000 after purchasing an additional 4,935,900 shares in the last quarter. Institutional investors and hedge funds own 9.70% of the company’s stock.

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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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