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Here’s Why GSK Stock (NYSE:GSK) is Trending Higher Today

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GSK shares are trending higher on the dual good news of the EMA validating its RSV and HIV candidates.

GSK Plc (NYSE:GSK) (GB:GSK) shares are trending higher this morning after the British multinational biopharmaceutical giant revealed that the European Medicines Agency (EMA) accepted marketing authorization applications (MAA) for two drug candidates: RSV and HIV.

According to the company, the MAA application for its respiratory syncytial virus (RSV) older adult vaccine candidate may get an accelerated assessment by the EMA. The application follows positive results from a Phase 3 study of its respiratory syncytial virus (RSV) vaccine, earlier this month.

The regulatory decision is expected to be released in the third quarter of 2023. If approved, the vaccine has the potential to be the first-ever vaccine available to help protect older adults from RSV lower respiratory tract disease (LRTD).

Separately, the EMA also validated an application for approval of cabotegravir long-acting injectable for the prevention of HIV. The application was submitted by ViiV Healthcare, which is majorly owned by GSK, with Pfizer (NYSE:PFE) and Shionogi as its shareholders.

What is the Market Capital of GSK Pharma?

Trading both on the New York stock exchange and the London stock exchange, U.K.-based GlaxoSmithKline stock has a market capitalization of $65 billion (GBP 57.4 billion). GSK is scheduled to release its Q3 results next week on November 2.

As per TipRanks, analysts are cautiously optimistic about the GSK stock and have a Moderate Buy consensus rating, which is based on four Buys and eight Holds. GSK’s average price forecast of 1,731.82p implies 22.53% upside potential.

Notably, GSK stock has a top-notch Smart Score of a “Perfect 10” on TipRanks, indicating that the stock has strong potential to outperform market expectations. 

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