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On Wednesday, Bernstein SocGen Group analysts reaffirmed their Outperform rating on GlaxoSmithKline stock, maintaining a price target of INR22.90. The analysts expressed optimism about the company’s future sales, projecting them to exceed both guidance and Bloomberg consensus forecasts by double-digit percentages by 2031, driven by the HIV and pharmaceutical pipelines.
The analysts highlighted two significant events in 2026 that they believe could positively impact GlaxoSmithKline’s price-to-earnings ratio. These include the relaunch of the blood cancer treatment Blenrep in the second half of 2025 and the phase 3 data readouts in 2026 for camlipixant, targeting recurrent chronic cough, and bepirovirsen for hepatitis B.
In their comments, the analysts noted that the current share price underestimates the company’s value, as it reflects a mid-single-digit patent cliff price-to-earnings ratio for GlaxoSmithKline’s pharmaceutical business. They do not foresee the expiration of HIV patents between 2028 and 2030 leading to a significant patent cliff.
The analysts’ positive outlook is based on their belief that these upcoming catalysts and the company’s strong pipeline will lead to upgrades in GlaxoSmithKline’s stock rating. They emphasized that the stock remains undervalued given these potential developments.
GlaxoSmithKline, listed on both the London Stock Exchange (LON:LSEG) (GSK:LN) and the New York Stock Exchange (NYSE:GSK), continues to attract attention from investors and analysts due to its strategic focus on its pharmaceutical and HIV segments.
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