TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
GlaxoSmithKline ( (GB:GSK) ) has provided an update.
TESARO, a subsidiary of GSK, has initiated litigation against AnaptysBio, Inc. in the Delaware Chancery Court, alleging a breach of the license agreement concerning the oncology treatment Jemperli (dostarlimab). This legal action seeks to terminate the current license agreement, secure a perpetual license for dostarlimab, and reduce royalties and milestone payments to AnaptysBio by 50%. Jemperli, approved in over 35 countries for endometrial cancer, has seen significant growth due to label expansions, with ongoing clinical trials exploring its use in other cancers. This litigation could impact GSK’s operations and market positioning in oncology treatments.
The most recent analyst rating on (GB:GSK) stock is a Buy with a £21.00 price target. To see the full list of analyst forecasts on GlaxoSmithKline stock, see the GB:GSK Stock Forecast page.
Spark’s Take on GB:GSK Stock
According to Spark, TipRanks’ AI Analyst, GB:GSK is a Outperform.
GlaxoSmithKline’s strong technical indicators and positive earnings call sentiment are the most significant factors driving the high score. The company’s solid financial performance, despite some concerns about cash flow and debt reliance, supports a favorable outlook. Valuation metrics further enhance its attractiveness, making GSK a compelling investment in the drug manufacturing sector.
To see Spark’s full report on GB:GSK stock, click here.
More about GlaxoSmithKline
GSK is a global biopharmaceutical company focused on uniting science, technology, and talent to advance disease treatment. The company is known for its innovative approach in the biopharma industry, particularly in developing treatments for various diseases.
Average Trading Volume: 8,418,473
Technical Sentiment Signal: Buy
Current Market Cap: £71.6B
Find detailed analytics on GSK stock on TipRanks’ Stock Analysis page.