GT Biopharma (OTCMKTS:GTBP) Rating Increased to Buy at Zacks Investment Research

GT Biopharma (OTCMKTS:GTBP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage currently has a $8.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 7.67% from the company’s current price.

According to Zacks, “GT Biopharma Inc. is an immuno-oncology company. It discovers, develops and commercializes drugs of therapeutic molecules for the treatment of cancer, myeloma, osteolytic lesions and other unmet medical needs. GT Biopharma Inc., formerly known as OXIS International Inc., is based in Tampa, Florida. “

Several other equities analysts have also recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $26.00 price target (up from $21.00) on shares of GT Biopharma in a research report on Thursday, June 24th. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of GT Biopharma in a research report on Tuesday, September 14th.

Shares of OTCMKTS:GTBP opened at $7.43 on Wednesday. The firm has a market capitalization of $156.98 million, a PE ratio of -1.15 and a beta of 0.34. The business has a 50-day moving average of $9.40 and a two-hundred day moving average of $11.40. GT Biopharma has a 12 month low of $2.55 and a 12 month high of $19.73.

GT Biopharma (OTCMKTS:GTBP) last issued its earnings results on Monday, August 23rd. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.13. As a group, research analysts predict that GT Biopharma will post -1.57 EPS for the current year.

Several institutional investors have recently modified their holdings of the business. Davy Global Fund Management Ltd acquired a new position in GT Biopharma in the 1st quarter worth $180,000. UBS Group AG bought a new position in shares of GT Biopharma during the first quarter worth approximately $27,000. Geode Capital Management LLC bought a new position in shares of GT Biopharma during the first quarter worth approximately $891,000. Northern Trust Corp acquired a new stake in shares of GT Biopharma during the 1st quarter worth approximately $235,000. Finally, Royal Bank of Canada acquired a new stake in shares of GT Biopharma during the 1st quarter worth approximately $167,000. Institutional investors own 21.37% of the company’s stock.

About GT Biopharma

GT Biopharma, Inc is a clinical stage biopharmaceutical company focused on the development and commercialization of immuno-oncology therapeutic products based proprietary TriKE NK cell engager platform. The TriKE platform is designed to harness and enhance the cancer killing abilities of a patient’s immune system natural killer cells (NK cells).

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