Glenmark Pharma shares trade lower after CLSA retains 'sell'

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26 Aug, 2025 12:21

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Glenmark Pharma share price was down over a percent intraday on August 18 after CLSA retained a sell call on the stock.

The global research firm has maintained sell call on the stock and has raised the target to Rs 470 from Rs 420 per share. It is of the view that the pharma company's Q1 PAT was way ahead of estimates, boosted by lower opex and one-off gains from forex, according to a CNBC-TV18 report.

CLSA has raised its FY21/22CL EPS by 18/8 percent. Weak US, Latin America and rest of the world with respect to investments in clinical pipeline is likely to be a drag on earnings.

Glenmark Pharma, however, reported more than two-fold increase in consolidated net profit at Rs 254.04 crore for the quarter ended June. The pharma company had reported a net profit of Rs 109.28 crore for the April-June period in 2019-20.

Consolidated revenue stood at Rs 2,344.78 crore for the first quarter, as compared to Rs 2,322.87 crore in the year-ago period, Glenmark Pharmaceuticals said in a regulatory filing.

Nomura has a buy call on Glenmark with a target of Rs 663 per share. It is of the view that Q1 results were operationally ahead of estimates. It is undertaking initiatives on cost control; part of the lower cost may sustain beyond the pandemic, said a CNBC-Tv18 report.