Bernstein Gives a Buy Rating to GlaxoSmithKline (GSK)
In a report released today, Justin Smith from Bernstein assigned a Buy rating to GlaxoSmithKline, with a price target of p2,630.00.
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According to TipRanks, Smith is a 4-star analyst with an average return of 11.1% and a 65.79% success rate. Smith covers the Healthcare sector, focusing on stocks such as GlaxoSmithKline, AstraZeneca, and Sanofi.
In addition to Bernstein, GlaxoSmithKline also received a Buy from Jefferies’s Michael Leuchten in a report issued on June 3. However, today, Barclays maintained a Sell rating on GlaxoSmithKline (LSE: GSK).
Based on GlaxoSmithKline’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of p7.63 billion and a net profit of p1.74 billion. In comparison, last year the company earned a revenue of p7.52 billion and had a net profit of p1.62 billion
Based on the recent corporate insider activity of 330 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GSK in relation to earlier this year.
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