J P Morgan Chase & Co Trims GlaxoSmithKline plc (GSK) Target Price to GBX 1,570

GlaxoSmithKline plc (LON:GSK) had its target price decreased by J P Morgan Chase & Co from GBX 1,750 ($22.60) to GBX 1,570 ($20.28) in a research note released on Wednesday morning, MarketBeat.com reports. J P Morgan Chase & Co currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. Bryan, Garnier & Co reissued a buy rating and issued a GBX 1,750 ($22.60) price objective on shares of GlaxoSmithKline plc in a research note on Wednesday, May 31st. UBS AG set a GBX 1,600 ($20.66) price objective on GlaxoSmithKline plc and gave the stock a neutral rating in a research note on Monday, May 29th. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a GBX 1,900 ($24.54) price objective on shares of GlaxoSmithKline plc in a research note on Wednesday, May 31st. Liberum Capital reissued a buy rating and issued a GBX 1,900 ($24.54) price objective on shares of GlaxoSmithKline plc in a research note on Wednesday, June 14th. Finally, Deutsche Bank AG reissued a hold rating and issued a GBX 1,720 ($22.21) price objective on shares of GlaxoSmithKline plc in a research note on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of GBX 1,705.90 ($22.03).

GlaxoSmithKline plc (LON:GSK) opened at 1454.00 on Wednesday. The company’s market capitalization is GBX 71.07 billion. The firm has a 50-day moving average price of GBX 1,507.18 and a 200-day moving average price of GBX 1,610.52. GlaxoSmithKline plc has a 1-year low of GBX 1,446.50 and a 1-year high of GBX 1,745.56.

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The business also recently declared a dividend, which will be paid on Thursday, October 12th. Stockholders of record on Thursday, August 10th will be issued a GBX 19 ($0.25) dividend. This represents a dividend yield of 1.23%. The ex-dividend date is Thursday, August 10th.

In related news, insider Manvinder Singh Banga purchased 2,267 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was purchased at an average cost of GBX 1,599 ($20.65) per share, with a total value of £36,249.33 ($46,815.61). Also, insider Patrick Vallance purchased 861 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was bought at an average cost of GBX 1,618 ($20.90) per share, with a total value of £13,930.98 ($17,991.71). Insiders bought 3,152 shares of company stock valued at $5,055,023 over the last ninety days.

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.

Analyst Recommendations for GlaxoSmithKline plc (LON:GSK)

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