Gland Pharma extends losses for second straight session, corrects over 10%
Gland Pharma stock price target: Gland Pharma shares extended losses for the second straight session on Monday. The trend follows after the Hyderabad-based generic injectable manufacturer reported a 52 per cent fall in operating profit to Rs 168 crore for the quarter that ended March 2023.
Gland Pharma share price NSE, Gland Pharma stock price target: Gland Pharma shares extended losses for the second straight session on Monday. The trend follows after the Hyderabad-based generic injectable manufacturer reported a 52 per cent fall in operating profit to Rs 168 crore for the quarter that ended March 2023. The mid-cap pharma company shares on Monday opened at Rs 950 apiece on NSE. At, 10:49 AM, the stock quoted Rs 957.5, down by 10.14 per cent or 108.1 points. The stock on Friday had locked in the 20 per cent lower circuit at Rs 1,065.6 levels .
Gland Pharma Q4 results
Gland Pharma reported a 29 per cent fall in revenue to Rs 785 crore. The company's margin contracted to 21.5 per cent from 31.6 per cent a year ago.
Gland Pharma share price target: Should you buy, sell or hold?
Post the drug maker's earnings announcement, brokerages have mixed views on the counter.
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- Goldman Sachs maintained a 'buy' on Gland Pharma but reduced its target price to Rs 1,475 from Rs 1,700.
- Citi continued with a 'sell' call and reduced its target price to Rs 925 from Rs 1,200.
- Jefferies retained an 'underperform' rating with a target price of Rs 1,065.
- Gland Pharma shares: Past performance
On a year-to-date basis (as of May 22), Gland Pharma shares have lost nearly 69 per cent of their value in the past year, a period in which the Nifty headline index has fallen 13 per cent.