Watch for Continued Gains in Shares of GlaxoSmithKline PLC (GSK)

Shares of GlaxoSmithKline PLC (NYSE:GSK) traded at a new 12-month high today of $46.97. Approximately 1.1 million shares have changed hands today, as compared to an average 30-day volume of 5.2 million shares.

Over the past year, GlaxoSmithKline PLC has traded in a range of $35.84 to $46.97 and is now at $46.38, 29% above that low.

GlaxoSmithKline PLC is currently priced 5.7% above its average consensus analyst price target of $43.76.

In the pharmaceutical industry, GlaxoSmithKline ranks as one of the largest firms by total sales. The company wields its might across several therapeutic classes, including respiratory, cancer, and antiviral, as well as vaccines and consumer healthcare products. Glaxo uses joint ventures to gain additional scale in certain markets like HIV and consumer products.

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