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GLENMARK Consensus Forecast

No. of reports in last year
8
No. of analysts
6
Average Consensus Forecast
514.12
Consensus Potential
-34.47%

GLENMARK Price Target Potential

BrokerageTargetPotential
Prabhudas Lilladher509-32.08%
ICICIdirect.com635-5.87%
Edelweiss559-20.27%
Geojit Financial Services548-22.68%
Nirmal Bang578-16.31%

GLENMARK Targets in FrontPage Forums

12 Users have submitted 12 trade ideas of Rs. 1,049,317.05 for GLENMARK
100% Bullish
0% Bearish
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GLENMARK Ratings

Long term GLENMARK rating by FrontPage users
3.1/5 (7 Ratings)

8 GLENMARK share price target reports by brokerages below. See what is analyst's view on GLENMARK share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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GLENMARK Share Price Target

GLENMARK Share Price Target - Broker Reports - 2021

1-Jun-21
Price @ Call: 594.65
Target: 509
REDUCE
15-Feb-21
Price @ Call: 490.9
Target: 635
BUY

GLENMARK Share Price Target - Broker Reports - 2020

7-Dec-20
Price @ Call: 528.8
Target: 559
BUY
27-Nov-20
Price @ Call: 473.42
Target: 548
BUY
10-Nov-20
Price @ Call: 474.22
Target: 578
BUY
9-Nov-20
Price @ Call: 482.53
Target: 495
NEUTRAL
9-Nov-20
Price @ Call: 482.53
Target: 424
SELL
18-Aug-20
Price @ Call: 473.96
Target: 365
SELL
4-Mar-20
Price @ Call: 287.38
Target: 390
BUY
We initiate coverage on Glenmark Pharma with a Buy rating and a target price of Rs390, based on 11x FY22 EPS. The target valuation multiple represents a steep discount to peers given that for more than a decade the company has been incurring a disproportionately large investment in NCE R&D - a high risk investment avenue. The stock can rerate and trade at higher multiples depending on the company’s execution on its guidance of containing R&D spend and reducing debt. Currently, the combination of financial risk and business risk (NCE development) is suppressing valuation multiples. The company is pursuing strategic initiatives (stake sale) for its NCE business (hived off into a new entity - Ichnos Sciences). A potential deal is largely contingent on the quality of clinical data emerging from its Phase 2b drug candidate – ISB 830 (OX 40 antagonist) in atopic dermatitis. The Phase 2b trial should report clinical data by the middle of 2020. The Phase 2a data has been encouraging and bodes well for a favorable outcome. In addition, Glenmark is seeking partners for further development of its other specialty assets like biosimilar Xolair.
... Read more

GLENMARK Share Price Target - Broker Reports - 2019

25-Nov-19
Price @ Call: 346.4
Target: 366
HOLD
The company has reported decent performance amid challenging global macro environment. Outlook remains weak for US and other geographies. However India business continues to outperform industry growth, which will be the key catalyst for revenue growth. Hence, we upgrade our rating on the stock to HOLD with a revised target price of Rs. 366 based on 11x FY21E adj. EPS.
... Read more
25-Nov-19
Price @ Call: 346.4
Target: 366
HOLD
The company has reported decent performance amid challenging global macro environment. Outlook remains weak for US and other geographies. However India business continues to outperform industry growth, which will be the key catalyst for revenue growth. Hence, we upgrade our rating on the stock to HOLD with a revised target price of Rs. 366 based on 11x FY21E adj. EPS.
... Read more
25-Nov-19
Price @ Call: 346.4
Target: 366
HOLD
The company has reported decent performance amid challenging global macro environment. Outlook remains weak for US and other geographies. However India business continues to outperform industry growth, which will be the key catalyst for revenue growth. Hence, we upgrade our rating on the stock to HOLD with a revised target price of Rs. 366 based on 11x FY21E adj. EPS.
... Read more
3-Sep-19
Price @ Call: 389.97
Target: 338
SELL
With weak Q1FY20 performance and price erosion in US market, we trim our EPS estimates for FY20E by ~30%, downgrading our rating on the stock to SELL with a revised target price of Rs.338 based on a reduced target multiple to 12x FY21E adj. EPS.
... Read more
19-Aug-19
Price @ Call: 361.1
Target: 500
BUY
Glenmark delivered sub-par numbers in 1QFY20 and only the India segment was able to impress with the highest growth among listed-peers. Valuations are as low as 15/12x FY20/21E P/E, while the India business alone is valued at Rs 450/sh. We believe the post-result fall was an overreaction. Re-iterate BUY with a revised TP of Rs 500 (16x FY21E EPS).
... Read more
14-Aug-19
Price @ Call: 386.17
Target: 385
REDUCE
Q1 inline; Debt growth, sales growth remain to be major concerns in opposite direction
LatAm guided to receive strong sales post in-licensing respiratory brands of Novartis in Brazil from Q2FY20E onwards. EU continues to grow at 10-15%, GNP target 10-15% sales growth and expects EBITDA margin to be 16-17% in FY20E. Management revisited its growth plan in US and rationalized further investment plan in specialty portfolio with high risk-reward matrix. GNP continues to invest US$30m/quarter in NCE business and plans to raise capital as well as divest non-core assets in US and other export markets by Q4FY20E. This will help to reduce net debt by Rs7-8bn in FY20E. With track record of only sporadic debt repayment, we believe that reduction of debt remains an unmet promise over many years. Till it set a trend of reducing debt consistently over 6-8 quarters, the valuation of the company continues to be impacted with lower multiple than peers. GNP trades at PE 13.2x ofFY20E and 12x of FY21E earnings. We maintain ‘Reduce’ and decreases TPto Rs385 (PE 12x of FY21E earnings) from Rs417.
... Read more
26-Jun-19
Price @ Call: 457.83
Target: 560
BUY
GNP has corrected ~28% in the past three months vs the BSE Pharma Index fall of 10% on concerns of weak Q4 US sales and delay in Rylatris. We believe concerns are overdone and expect base business profitability to improve in FY20 (+17% EBITDA growth) on flat R&D cost and cost- cutting initiatives on the personnel front. Further, debt reduction via an API stake sale would remove major overhang. At the CMP, the stock is trading at an attractive valuation of 7.8x FY21E EV/EBITDA and 12x FY21E P/E..We upgrade stock to Buy from Reduce with a new TP of INR 560 from INR 585 on 15x (unchanged) FY21E P/E.
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30-May-19
Price @ Call: 550.59
Target: 580
HOLD
We continue to remain positive on GNP’s growth prospects in the medium-to-long-term driven by niche product pipeline. On innovation R&D side, we continue to expect value unlocking over the next 12-18 months. Looking ahead, GNP’s India business is likely to recover with 13% CAGR over FY19-21E. In light of increasing pricing pressure in the US and rolling over our earnings estimate to FY21E, we maintain our HOLD recommendation on the stock with a revised Target Price of Rs580.
... Read more
3-Jun-19
Price @ Call: 545.15
Target: 595
HOLD
Maintain Hold with lowered PT of Rs. 595:
Glenmark is expected to deliver sales andprofit CAGR of 16% and 30%, respectively, overFY2019-FY2021E. We have maintained our earnings estimate for FY2020 and reduced it by 8.5% for FY2021 (on account of increased competition in the U.S. for key products). Lack of avenues for significant debt reduction in booksover the next two years and overall concerns on U.S. business keep us skeptical on the stock’s performance. Hence, we maintain our Hold recommendation on the stock with lowered price target (PT) of Rs. 595.
... Read more
31-May-19
Price @ Call: 543.04
Target: 565
HOLD
The management expects margin improvement in FY20 mainly due to cost rationalisation. We expect possible monetisation of APIs and proposed unlocking of innovation business to reduce debt as key catalyst for future re-rating of the stock. Our new target price is Rs 565 based on 14x FY21E EPS of Rs 40.3.
... Read more
15-Feb-19
Price @ Call: 570.84
Target: 610
HOLD
We continue to remain positive on GNP’s growth prospects in medium to long-term perspective driven by niche product pipeline. On innovation R&D side, we continue to expect value unlocking over next 12-18 months. Looking ahead, GNP’s India business is likely to recover with 12% CAGR over FY18-20E owing to new launches. We expect GNP’s US sales to remain muted growth. At CMP, the stock trades at PE of 19.1x FY19E and 15.6x FY20E EPS. We expect increasing pricing pressure in the US and higher leverage limit the stock’s upside potential. We maintain our HOLD recommendation on the stock with a Target Price of Rs610.
... Read more
18-Feb-19
Price @ Call: 569.65
Target: 800
BUY
Overall we expect 12/18/28% rev./EBITDA/PAT CAGR over FY19-21E. At present, the stock is trading at 17/13x FY20/21E EPS, a ~30% discount to large-cap peers. Maintain buy with a TP of Rs 800 (16x Dec-21E EPS + Rs 135/sh for pipeline).
... Read more
15-Feb-19
Price @ Call: 613.9
Target: 635
HOLD
The Q3 numbers were operationally in line. However, base business price erosion is still steep at 8-10% annually. The management has guided for 12-15 product launches in FY20E including four to five niche products that are likely to drive the US growth. On the domestic front, the management has guided for 10-15% of growth, which is lower than historical guidance of 15-20%. However, the domestic consumer segment is growing strong. The management expects improved margins in FY20 mainly due to cost rationalisation. Other geographies, with some volatility are shaping up decently. We expect possible monetisation of recent spin-off of APIs and proposed unlocking of innovation business to reduce debt as key catalyst for future re-rating of the stock. Our new target price is | 635 based on 14x FY21E EPS of Rs 45.5.
... Read more

GLENMARK Share Price Target - Broker Reports - 2018

15-Nov-18
Price @ Call: 663.08
Target: 790
BUY
14-Nov-18
Price @ Call: 674
Target: 497
REDUCE
21-Sep-18
Price @ Call: 662.02
Target: 695
HOLD
10-Sep-18
Price @ Call: 696.53
Target: 780
HOLD
16-Aug-18
Price @ Call: 583.3
Target: 691
BUY
4-Jul-18
Price @ Call: 590.45
Target: 720
BUY
31-May-18
Price @ Call: 527.21
Target: 530
HOLD
17-May-18
Price @ Call: 518.05
Target: 472
REDUCE
12-Feb-18
Price @ Call: 537.79
Target: 787
BUY
12-Feb-18
Price @ Call: 535.1
Target: 550
HOLD
9-Feb-18
Price @ Call: 534.1
Target: 550
NEUTRAL
9-Feb-18
Price @ Call: 534.1
Target: 472
REDUCE

GLENMARK Share Price Target - Broker Reports - 2017

1-Dec-17
Price @ Call: 563.34
Target: 733
BUY
21-Nov-17
Price @ Call: 591.9
Target: 733
ACCUMULATE
13-Nov-17
Price @ Call: 580.62
Target: 730
HOLD
4-Nov-17
Price @ Call: 634.6
Target: 650
NEUTRAL
3-Nov-17
Price @ Call: 634.6
Target: 670
BUY
4-Nov-17
Price @ Call: 634.6
Target: 670
HOLD
21-Oct-17
Price @ Call: 609.95
Target: 900
BUY
18-Aug-17
Price @ Call: 620.05
Target: 647
HOLD
2-Aug-17
Price @ Call: 701.75
Target: 840
BUY
31-Jul-17
Price @ Call: 696
Target: 900
BUY
5-Jul-17
Price @ Call: 642
Target: 774
BUY
15-May-17
Price @ Call: 760
Target: 910
BUY
24-Mar-17
Price @ Call: 886
Target: 1100
BUY
9-Feb-17
Price @ Call: 956.76
Target: 1100
BUY

GLENMARK Share Price Target - Broker Reports - 2016

17-May-16
Price @ Call: 874.05
Target: 900
NEUTRAL
28-Dec-16
Price @ Call: 893.15
Target: 1100
BUY
20-Dec-16
Price @ Call: 932.5
Target: 1100
BUY
6-Dec-16
Price @ Call: 863
Target: 1040
BUY
1-Nov-16
Price @ Call: 976
Target: 1040
BUY
1-Nov-16
Price @ Call: 938
Target: 1200
BUY
28-Oct-16
Price @ Call: 902.35
Target: 1110
BUY
16-Aug-16
Price @ Call: 846
Target: 900
HOLD
23-Jun-16
Price @ Call: 776.05
Target: 1186
BUY
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  • GLENMARK Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3697.52
    Upside Target 2686.03
    Upside Target 1667.97
    Pivot656.48
    Downside Target 1638.42
    Downside Target 2626.93
    Downside Target 3608.87
  • GLENMARK Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3724.85
    Upside Target 2707.9
    Upside Target 1678.9
    Pivot661.95
    Downside Target 1632.95
    Downside Target 2616
    Downside Target 3587
  • GLENMARK Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 3767.03
    Upside Target 2719.52
    Upside Target 1686.03
    Pivot638.52
    Downside Target 1605.03
    Downside Target 2557.52
    Downside Target 3524.03
  • GLENMARK Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3686.03
    Upside Target 2674.75
    Upside Target 1667.77
    Pivot656.48
    Downside Target 1645.2
    Downside Target 2638.22
    Downside Target 3626.93
  • GLENMARK Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3707.9
    Upside Target 2690.35
    Upside Target 1679.5
    Pivot661.95
    Downside Target 1644.4
    Downside Target 2633.55
    Downside Target 3616
  • GLENMARK Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 3719.52
    Upside Target 2688.57
    Upside Target 1669.46
    Pivot638.52
    Downside Target 1607.57
    Downside Target 2588.46
    Downside Target 3557.52
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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