[Bloomberg] GlaxoSmithKline plc (ADR) (NYSE:GSK) is exploring an initial public offering for its Viiv Healthcare Ltd. subsidiary to capitalize on the unit’s soaring sales of HIV drugs even as revenue for the parent company declines.Glaxo is considering the sale of a minority stake, the London-based pharmaceutical maker said in a statement today. The move would allow investors to better appreciate Viiv’s growth, as well as create more options to do deals, Glaxo said. The company owns 78 percent of ViiV, Pfizer Inc. (PFE) holds 12 percent and Shionogi & Co. (4507) has 10 percent.Stock PerformanceTaking a look at the company’s recent performance, GlaxoSmithKline reported first quarter earnings for fiscal 2014 on July 22nd. The company reported actual earnings per share of $0.65 against the consensus Street estimate of $0.71.GlaxoSmithKline is currently valued at $109.55 billion and closed the last trading session at $45.36. The stock has a 50-day moving average of $47.38 and a 200-day moving average of $51.76.
Is this a Buying Opportunity?There are currently twenty two analysts that we track that cover the stock. Of those twenty two, six have a Buy rating, thirteen have a hold rating and three have a Sell rating. On a consensus basis this yields a score of 2.14 and a Hold. The combined price objective of these covering analysts is $52.67 which represents a 14.57% difference to the last closing price.The most recent analyst activity consisted of Pamure Gordon reiterating their Hold stance on the company. On the date of the report, the stock closed at $45.97.Another research firm weighing in recently was Credit Suisse who also reiterated their rating on the stock. On the day of the report, GSK shares closed at $46.64.Company ProfileGlaxoSmithKline plc (ADR) (NYSE:GSK)creates, discovers, develops, manufactures, and markets pharmaceutical products, such as vaccines, over-the-counter medicines, and health-related consumer products worldwide. The company provides pharmaceutical products in various therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, antibacterials, oncology and emesis, dermatology, rare diseases, immuno-inflammation, vaccines, and HIV. It also offers consumer health products in total wellness, oral care, nutritional, and skin health areas
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