London, June 29, 2026, 12:01 BST
- GSK traded around 1,981p late in the London session, about in line with the 12-month median target of 1,980p from 18 analysts.
- FTSE 100 slipped, with GSK tracking the index.
- Before the Nuvalent deal, consensus gathered by the company saw 2031 revenue at £34.879 billion, falling short of GSK’s own sales outlook of over £40 billion.
- GSK said its tender offer for Nuvalent is open until July 14. The company sees low single-digit core EPS dilution through 2028 if the buyout happens.
GSK plc (LON:GSK; NYSE:GSK) traded a bit lower in late London hours on Monday, with the bigger focus for investors on valuation rather than the minor decline. Shares showed a sell price of 1,980.50p and a buy price at 1,981.00p as of 11:46 BST, down 0.13%. The FTSE 100 (INDEXFTSE:UKX) was down too.
Shares are now close to the median analyst target. Investors Chronicle data shows 18 analysts have a median 12-month target of 1,980p, with estimates ranging from 2,750p down to 1,455p. The stock is up 40.91% over the past year, which suggests to some the easier part of the re-rating is probably over.
| Market check | Latest data |
|---|---|
| GSK bid/ask | 1,980.50p / 1,981.00p |
| GSK shares | -0.13% |
| FTSE 100 latest (Reuters) | -0.2% at 0949 GMT |
| Median forecast, 18 analysts | 1,980p |
| Highest/lowest analyst target | 2,750p / 1,455p |
| GSK 12-month change | +40.91% |
GSK is left without much consensus support as it looks to raise its long-term outlook. On GSK’s analyst-consensus page as of May 26, before the Nuvalent deal, 2031 group turnover sat at £34.879 billion. Back in April, the company kept to its original target for 2031 sales of at least £40 billion. That means there’s a gap of at least £5.1 billion.
| Company-collected consensus, effective May 26 | 2026 | 2031 | Change |
|---|---|---|---|
| GSK sales | £33.667 bln | £34.879 bln | +3.6% |
| Specialty drugs | £14.940 bln | £16.876 bln | +13.0% |
| Cancer | £2.474 bln | £5.056 bln | +104.4% |
| Vaccines | £9.148 bln | £10.396 bln | +13.6% |
| General drugs | £9.579 bln | £7.607 bln | -20.6% |
| Dolutegravir lines | £5.671 bln | £0.992 bln | -82.5% |
Nuvalent, Inc. NASDAQ:NUVL is in focus after GSK said June 24 that one of its units started a tender offer to buy all Nuvalent shares at $124 per share in cash. Offer and withdrawal rights run until one minute past 11:59 p.m. Eastern on July 14, unless GSK extends or ends it sooner.
GSK announced the $10.6 billion deal on June 9. CEO Luke Miels told Reuters the acquisition was “essentially three products in one,” saying the assets bring “significant new treatment options” for lung cancer patients. Analysts at Bank of America Corp (NYSE:BAC) called it a “bold move from new CEO in oncology.” Reuters
GSK says it’s paying for the Nuvalent deal using cash and both new and existing debt. The drugmaker doesn’t expect the buyout to affect its credit rating. GSK is sticking to its 2026 guidance for 7%-9% core operating profit and core EPS growth. It also still plans for a 70p dividend in 2026.
GSK pointed to some short-term dilution from the deal. The company said if it closes in the third quarter, core EPS would take a low single-digit percentage hit in 2026, 2027 and 2028. GSK expects it will start boosting revenue in 2027, and lift core operating profit the same year, with a bump to core EPS following in 2029.
GSK’s Q1 numbers show the company still needs fresh growth. The drugmaker posted £7.6 billion in first-quarter sales, a 5% gain at constant exchange. Specialty medicines jumped 14% to £3.2 billion, led by a 28% rise in oncology sales to £0.5 billion and a 10% gain in HIV to £1.8 billion. Vaccines revenue climbed 4% to £2.1 billion, but Arexvy sales dropped 18% to £0.1 billion. General medicines were down 6% at £2.3 billion.
Miels said back in April that GSK had “a strong start” for 2026 and “good performance from our key growth drivers.” The market is looking at Nuvalent now to see if those growth drivers get enough of a lift to push analysts past a target the stock already hits. GSK
GSK is set to report its next earnings on July 28, Investors Chronicle data shows.
