Deutsche Bank repeated its ‘buy’ advice and 1,700p price target for shares in GSK PLC (LSE:GSK, NYSE:GSK) in an update which assessed the news flow around its Hepatitis B research.
Put simply, the latest research updates, both from the UK company and competitor Roche, make the author optimistic about GSK's potential in the Hepatitis B market.
But the analyst is also cautious about whether the current phase III trials for GSK's drug bepirovirsen will be the breakthrough treatment that doctors are looking for. Upcoming phase II data may provide more information.
GSK shares were trading 9p, or 0.6% higher at 1,438p a share. Of the 23 banks and brokerages logged as following the drugs giant, nine are positive and 10 are neutral on its stock.
The consensus price target is 1,713p.