Glaxo downgraded to neutral at UBS, which says European pharma 'cheap but not a bargain'

GlaxoSmithKline /zigman2/quotes/209463850/composite GSK +1.84% /zigman2/quotes/200381158/delayed UK:GSK +1.54% was downgraded to neutral from buy at UBS, which said the European pharma sector is cheap -- trading at a double-digit discount to the market on forward price-to-earnings -- but not a bargain, since earnings per share are seen growing 8% next year vs. about 30% for the broader market. On Glaxo in particular, UBS said investors will gravitate toward a sum-of-the-parts valuation until things are clearer on the separation of its consumer health joint venture with Pfizer /zigman2/quotes/202877789/composite PFE +0.56% . UBS said its top European pharma picks are Novartis /zigman2/quotes/203286410/delayed CH:NOVN -1.68% , Bayer /zigman2/quotes/206842998/delayed XE:BAYN -0.48% and H. Lundbeck /zigman2/quotes/208724881/delayed DK:LUN -1.02% .

/zigman2/quotes/209463850/composite

Add to watchlist GSK

GlaxoSmithKline PLC ADR

US : U.S.: NYSE

$ 34.91

+0.63 +1.84%

Volume: 6.45M

March 5, 2021 4:00p

P/E Ratio

12.00

Dividend Yield

5.73%

Market Cap

$85.79 billion

Rev. per Employee

N/A

/zigman2/quotes/200381158/delayed

Add to watchlist UK:GSK

GlaxoSmithKline PLC

UK : U.K.: London

1,243.00 p

+18.80 +1.54%

Volume: 9.82M

March 5, 2021 4:35p

P/E Ratio

10.87

Dividend Yield

6.44%

Market Cap

£62.08 billion

Rev. per Employee

N/A

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Add to watchlist PFE

Pfizer Inc.

US : U.S.: NYSE

$ 34.39

+0.19 +0.56%

Volume: 30.59M

March 5, 2021 4:02p

P/E Ratio

20.11

Dividend Yield

4.54%

Market Cap

$191.81 billion

Rev. per Employee

$533,860

/zigman2/quotes/203286410/delayed

Add to watchlist CH:NOVN

Novartis AG

CH : Switzerland: SWX

CHF 76.89

-1.31 -1.68%

Volume: 8.69M

March 5, 2021 5:31p

P/E Ratio

23.28

Dividend Yield

3.90%

Market Cap

CHF173.53 billion

Rev. per Employee

CHF431,707

/zigman2/quotes/206842998/delayed

Add to watchlist XE:BAYN

Bayer AG

XE : Germany: Xetra

€ 51.59

-0.25 -0.48%

Volume: 2.61M

March 5, 2021 6:30p

P/E Ratio

N/A

Dividend Yield

3.88%

Market Cap

€50.68 billion

Rev. per Employee

€415,922

/zigman2/quotes/208724881/delayed

Add to watchlist DK:LUN

H. Lundbeck A/S

DK : Denmark: OMX

kr. 233.10

-2.40 -1.02%

Volume: 289,278

March 5, 2021 4:59p

P/E Ratio

26.35

Dividend Yield

1.07%

Market Cap

kr.46.32 billion

Rev. per Employee

kr.3.14M