GRAIL (NASDAQ:GRAL) Stock Rating Upgraded by TD Cowen

GRAIL (NASDAQ:GRAL) was upgraded by TD Cowen from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a $65.00 target price on the stock. TD Cowen’s price target would suggest a potential upside of 37.22% from the company’s current price.

A number of other brokerages have also recently commented on GRAL. Robert W. Baird set a $82.00 price objective on GRAIL in a research note on Friday, February 20th. Guggenheim raised their target price on GRAIL from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Morgan Stanley decreased their target price on GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Canaccord Genuity Group lowered their price target on GRAIL from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

GRAIL Stock Performance

Shares of GRAL stock opened at $47.37 on Wednesday. The firm’s 50 day moving average price is $82.75 and its two-hundred day moving average price is $78.51. GRAIL has a 52-week low of $20.44 and a 52-week high of $118.84. The stock has a market cap of $1.94 billion, a PE ratio of -4.24 and a beta of 5.21.

GRAIL (NASDAQ:GRAL) last issued its earnings results on Thursday, February 19th. The company reported ($2.44) EPS for the quarter, beating the consensus estimate of ($3.33) by $0.89. The company had revenue of $43.60 million during the quarter, compared to analysts’ expectations of $43.33 million. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.11%. As a group, sell-side analysts predict that GRAIL will post -15.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other GRAIL news, President Joshua J. Ofman sold 2,937 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $47.89, for a total value of $140,652.93. Following the completion of the transaction, the president directly owned 432,881 shares of the company’s stock, valued at approximately $20,730,671.09. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Freidin sold 2,492 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $47.89, for a total value of $119,341.88. Following the completion of the sale, the chief financial officer owned 306,475 shares of the company’s stock, valued at $14,677,087.75. This trade represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 79,294 shares of company stock valued at $3,955,224.

Hedge Funds Weigh In On GRAIL

Several institutional investors have recently modified their holdings of the business. N.E.W. Advisory Services LLC acquired a new position in shares of GRAIL in the 4th quarter valued at approximately $26,000. Comerica Bank raised its holdings in GRAIL by 59.2% during the 3rd quarter. Comerica Bank now owns 465 shares of the company’s stock worth $27,000 after buying an additional 173 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in GRAIL in the fourth quarter valued at approximately $28,000. Elyxium Wealth LLC bought a new position in GRAIL in the fourth quarter valued at approximately $31,000. Finally, Intesa Sanpaolo S.p.A. acquired a new position in shares of GRAIL in the fourth quarter valued at approximately $44,000.

GRAIL Company Profile

GRAIL, Inc (NASDAQ: GRAL) is a biotechnology company dedicated to the early detection of cancer through a multi-cancer blood test. Leveraging advances in next-generation sequencing, cell-free DNA (cfDNA) analysis and machine learning, GRAIL has developed the Galleri™ test, which aims to identify more than 50 types of cancer at their earliest stages. The company’s platform analyzes methylation patterns in circulating tumor DNA to pinpoint tumor presence and tissue of origin, enabling physicians to pursue timely diagnostic follow-up.

Founded in 2016 as a spin-out from Illumina, GRAIL established its headquarters in Menlo Park, California, with additional research and operations centers in the United Kingdom.