Gland Pharma share price NSE, Gland Pharma stock price target: Gland Pharma shares nosedived on Friday, a day after the Hyderabad-based generic injectable manufacturer reported a 52 per cent fall in operating profit to Rs 168 crore for the quarter ended March 2023. Gland Pharma stock ended on Friday at Rs 1,065.6 apiece on the bourses, locked in the 20 per cent lower circuit.
Gland Pharma Q4 results
The mid-cap pharma company reported a 29 per cent fall in revenue to Rs 785 crore. The company’s margin contracted to 21.5 per cent from against 31.6 per cent a year ago.
Gland Pharma share price target: Should you buy, sell or hold?
Brokerages have mixed views on the counter after the drug maker’s earnings announcement.
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
As of May 19, Gland Pharma shares have lost nearly 66 per cent of their value in the past one year, a period in which the Nifty headline index has fallen 14 per cent.
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