Analysts Set Gritstone Oncology Inc (GRTS) Price Target at $22.20

Gritstone Oncology Inc (NASDAQ:GRTS) has been given an average recommendation of “Buy” by the seven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.20.

GRTS has been the subject of a number of recent analyst reports. Raymond James initiated coverage on Gritstone Oncology in a report on Thursday, March 14th. They issued an “outperform” rating and a $20.00 target price for the company. HC Wainwright initiated coverage on Gritstone Oncology in a report on Thursday, March 7th. They issued a “buy” rating and a $17.00 target price for the company. Finally, Berenberg Bank initiated coverage on Gritstone Oncology in a report on Wednesday, March 27th. They issued a “buy” rating for the company.

Several hedge funds have recently made changes to their positions in GRTS. Point72 Asset Management L.P. acquired a new position in Gritstone Oncology during the third quarter valued at $142,000. Svennilson Peter bought a new stake in shares of Gritstone Oncology during the 4th quarter worth $47,940,000. Alliancebernstein L.P. bought a new stake in shares of Gritstone Oncology during the 3rd quarter worth $285,000. Laurion Capital Management LP bought a new stake in shares of Gritstone Oncology during the 3rd quarter worth $1,780,000. Finally, Pentwater Capital Management LP bought a new stake in shares of Gritstone Oncology during the 3rd quarter worth $244,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

Shares of GRTS traded down $1.07 during trading hours on Monday, hitting $13.79. The stock had a trading volume of 46,300 shares, compared to its average volume of 140,837. Gritstone Oncology has a fifty-two week low of $9.66 and a fifty-two week high of $32.90. The stock has a market cap of $433.76 million and a P/E ratio of -1.90.

Gritstone Oncology (NASDAQ:GRTS) last posted its earnings results on Thursday, March 28th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.02. The firm had revenue of $1.09 million during the quarter, compared to analyst estimates of $1.20 million. Analysts forecast that Gritstone Oncology will post -2.71 earnings per share for the current fiscal year.

About Gritstone Oncology

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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Analyst Recommendations for Gritstone Oncology (NASDAQ:GRTS)

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