Zacks: Analysts Set $25.50 Target Price for Gritstone Oncology Inc (GRTS)

Gritstone Oncology Inc (NASDAQ:GRTS) has been assigned an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.

Analysts have set a one year consensus target price of $25.50 for the company, according to Zacks. Zacks has also given Gritstone Oncology an industry rank of 82 out of 257 based on the ratings given to related companies.

A number of research firms have recently issued reports on GRTS. Cowen began coverage on Gritstone Oncology in a report on Tuesday, October 23rd. They issued an “outperform” rating for the company. Barclays began coverage on Gritstone Oncology in a report on Tuesday, October 23rd. They issued an “overweight” rating and a $25.00 target price for the company. Goldman Sachs Group began coverage on Gritstone Oncology in a report on Tuesday, October 23rd. They issued a “neutral” rating and a $18.00 target price for the company. Finally, BTIG Research began coverage on Gritstone Oncology in a report on Tuesday, October 23rd. They issued a “buy” rating and a $26.00 target price for the company.

In other Gritstone Oncology news, Director Nicholas Simon bought 333,333 shares of Gritstone Oncology stock in a transaction dated Friday, September 28th. The stock was bought at an average price of $15.00 per share, for a total transaction of $4,999,995.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Large investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC purchased a new stake in shares of Gritstone Oncology during the third quarter worth $141,000. Point72 Asset Management L.P. purchased a new stake in shares of Gritstone Oncology during the third quarter worth $142,000. Partner Investment Management L.P. purchased a new stake in shares of Gritstone Oncology during the third quarter worth $165,000. Pentwater Capital Management LP purchased a new stake in shares of Gritstone Oncology during the third quarter worth $244,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Gritstone Oncology during the third quarter worth $285,000. Institutional investors and hedge funds own 13.60% of the company’s stock.

Shares of GRTS traded up $0.13 during mid-day trading on Thursday, reaching $22.06. The company’s stock had a trading volume of 57,027 shares, compared to its average volume of 131,998. Gritstone Oncology has a 1 year low of $11.22 and a 1 year high of $27.73.

Gritstone Oncology (NASDAQ:GRTS) last released its earnings results on Wednesday, November 14th. The company reported ($7.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($6.97). The firm had revenue of $0.10 million during the quarter.

About Gritstone Oncology

Gritstone Oncology Inc is engaged in the discovery and development of cancer immunotherapies. The company focuses on developing tumor-specific neo-antigens-based therapies for non-small cell lung cancer. Gritstone Oncology Inc has a strategic collaboration with bluebird bio, Inc The company was incorporated in 2015 and is based in San Francisco, California with operations in Cambridge, Massachusetts.

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