Gland Pharma Share Price Surges Over 6% As Jefferies Upgrades Ratings, Hikes Target Price Post Q1 Results
Jefferies has upgraded its rating to 'hold' from 'underperform' and hiked the target price to Rs 1,950 from Rs 1,350.
Shares of Gland Pharmaceutical Ltd. rose over 6% on Wednesday after Jefferies upgraded its rating to 'hold' from 'underperform' and hiked the target price post first quarter results for fiscal 2025-26 on Tuesday.
Jefferies hiked the target price to Rs 1,950 from Rs 1,350. Meanwhile, Citi maintained a 'sell' rating, with a target price of Rs 1,680.
Jefferies' upgrade is driven by the brokerage's view that the company's earnings downcycle is over and that it could benefit from generic GLP-driven tailwinds over the next one-two years.
Gland Pharma Share Price
Shares of Gland Pharma rose as much as 6.35% to Rs 2,089.40 apiece. They pared gains to trade 2.04% higher at Rs 2,004.70 apiece, as of 9:35 a.m. This compares to a 0.1% decline in the NSE Nifty 50.
The stock has fallen 4.66% in the last 12 months and risen 12.82% year-to-date. Total traded volume so far in the day stood at 0.42 times its 30-day average. Relative strength index was at 42.17.
Out of 17 analysts tracking the company, eight maintain a 'buy' rating, three recommend a 'hold' and six suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 6.8%.
