Grifols (NASDAQ:GRFS) Shares Gap Up – Here’s Why
by Jessica Moore · The Cerbat GemGrifols, S.A. (NASDAQ:GRFS – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $8.84, but opened at $9.16. Grifols shares last traded at $9.2530, with a volume of 160,778 shares trading hands.
Wall Street Analyst Weigh In
A number of brokerages have commented on GRFS. Zacks Research downgraded shares of Grifols from a “hold” rating to a “strong sell” rating in a research report on Friday, December 5th. JPMorgan Chase & Co. lowered their target price on shares of Grifols from $10.30 to $10.00 and set a “neutral” rating for the company in a research note on Monday, December 8th. Wall Street Zen upgraded Grifols from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Grifols in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Grifols has an average rating of “Hold” and an average price target of $10.00.
View Our Latest Report on Grifols
Grifols Trading Down 0.4%
The stock has a market capitalization of $6.35 billion, a PE ratio of 46.79, a PEG ratio of 0.32 and a beta of 0.67. The company has a quick ratio of 0.93, a current ratio of 2.48 and a debt-to-equity ratio of 1.20. The business’s 50-day moving average is $8.92 and its two-hundred day moving average is $9.51.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in GRFS. Royal Bank of Canada boosted its holdings in shares of Grifols by 21.7% in the first quarter. Royal Bank of Canada now owns 486,824 shares of the biotechnology company’s stock valued at $3,461,000 after acquiring an additional 86,768 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Grifols in the 1st quarter valued at $184,000. Goldman Sachs Group Inc. raised its position in Grifols by 1.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,212,032 shares of the biotechnology company’s stock valued at $29,948,000 after purchasing an additional 80,507 shares during the last quarter. Ballentine Partners LLC boosted its stake in Grifols by 48.9% during the 2nd quarter. Ballentine Partners LLC now owns 16,179 shares of the biotechnology company’s stock worth $146,000 after purchasing an additional 5,311 shares during the period. Finally, Ascent Group LLC purchased a new position in Grifols during the 2nd quarter worth $141,000.
Grifols Company Profile
Grifols, Inc (NASDAQ: GRFS) is a global healthcare company specializing in the development, manufacture and marketing of plasma-derived medicines, diagnostic systems and hospital supplies. With a core focus on immunotherapy and transfusion medicine, the company harnesses human plasma proteins to create therapies that treat a wide range of bleeding disorders, immunodeficiencies and neurological conditions. Grifols also supplies reagents and diagnostic instruments for transfusion centers and clinical laboratories, alongside intravenous solutions and medical devices for hospital use.
The company operates three main business units.