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%.
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