Zacks Investment Research upgraded shares of Gritstone Oncology (NASDAQ:GRTS) from a sell rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $12.00 target price on the stock.
According to Zacks, “Gritstone Oncology is developing tumor-specific cancer immunotherapies to fight multiple cancer types. The company has built its tumor-specific immunotherapy approach on two key pillars – first, a proprietary machine learning-based platform, Gritstone EDGE(TM), which provides a powerful ability to predict from a routine tumor biopsy the tumor-specific neoantigens, or TSNA, that are presented on a patients tumor cells; and second, the ability to develop and manufacture potent immunotherapies utilizing patients TSNA to drive the patients immune system to attack and destroy tumors. “
A number of other equities analysts have also commented on GRTS. HC Wainwright started coverage on shares of Gritstone Oncology in a research report on Thursday, March 7th. They issued a buy rating and a $17.00 price objective for the company. Raymond James started coverage on shares of Gritstone Oncology in a research report on Thursday, March 14th. They issued an outperform rating and a $20.00 price objective for the company. Berenberg Bank started coverage on shares of Gritstone Oncology in a research report on Wednesday, March 27th. They issued a buy rating for the company. Finally, Cowen restated a buy rating on shares of Gritstone Oncology in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $20.50.
Shares of NASDAQ:GRTS opened at $11.18 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.57 and a quick ratio of 10.43. The stock has a market cap of $387.92 million and a price-to-earnings ratio of -1.54. Gritstone Oncology has a twelve month low of $9.66 and a twelve month high of $32.90.
Gritstone Oncology (NASDAQ:GRTS) last issued its earnings results on Monday, May 13th. The company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.03. The business had revenue of $1.35 million for the quarter, compared to the consensus estimate of $1.20 million. Analysts predict that Gritstone Oncology will post -2.53 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. bought a new position in shares of Gritstone Oncology in the fourth quarter valued at approximately $28,000. Strs Ohio bought a new position in shares of Gritstone Oncology in the fourth quarter valued at approximately $29,000. New York State Common Retirement Fund bought a new position in shares of Gritstone Oncology in the first quarter valued at approximately $53,000. American International Group Inc. bought a new position in shares of Gritstone Oncology in the fourth quarter valued at approximately $70,000. Finally, Marshall Wace North America L.P. purchased a new stake in Gritstone Oncology in the first quarter valued at approximately $84,000. Institutional investors own 59.60% of the company’s stock.
Gritstone Oncology Company Profile
Gritstone Oncology Inc, an immuno-oncology company, engages in developing tumor-specific cancer immunotherapies to fight various cancer types. Its lead product candidate is GRANITE-001, which is in Phase I/II clinical trial for the treatment of solid tumors, including metastatic non-small cell lung cancer, as well as gastroesophageal, bladder and microsatellite stable, and colorectal cancers.
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