Analysts Set GRAIL, Inc. (NASDAQ:GRAL) PT at $72.83
by Mitch Edgeman · The Markets DailyGRAIL, Inc. (NASDAQ:GRAL – Get Free Report) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $68.6250.
GRAL has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of GRAIL from $110.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. Robert W. Baird set a $82.00 price target on shares of GRAIL in a research report on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GRAIL in a research report on Thursday, January 22nd. TD Cowen upgraded shares of GRAIL from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Wednesday, March 18th. Finally, Mizuho initiated coverage on shares of GRAIL in a research report on Friday, April 10th. They issued a “neutral” rating and a $58.00 price target for the company.
Check Out Our Latest Stock Analysis on GRAL
GRAIL Trading Up 5.1%
Shares of NASDAQ GRAL opened at $50.49 on Friday. The firm has a 50 day moving average of $61.69 and a 200 day moving average of $80.00. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -4.52 and a beta of 4.62. GRAIL has a 12-month low of $24.75 and a 12-month high of $118.84.
GRAIL (NASDAQ:GRAL – Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported ($2.44) earnings per share (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 analyst estimates of $43.33 million. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.11%. Sell-side analysts predict that GRAIL will post -15.15 EPS for the current year.
Insiders Place Their Bets
In other GRAIL news, CEO Robert P. Ragusa sold 123,502 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $49.92, for a total value of $6,165,219.84. Following the completion of the transaction, the chief executive officer directly owned 518,582 shares in the company, valued at $25,887,613.44. This represents a 19.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aaron Freidin sold 45,806 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $49.92, for a total transaction of $2,286,635.52. Following the transaction, the chief financial officer owned 260,669 shares of the company’s stock, valued at approximately $13,012,596.48. This represents a 14.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 310,267 shares of company stock worth $15,485,396 over the last three months.
Hedge Funds Weigh In On GRAIL
A number of hedge funds and other institutional investors have recently modified their holdings of GRAL. N.E.W. Advisory Services LLC bought a new position in shares of GRAIL during the fourth quarter worth $26,000. Comerica Bank raised its stake in GRAIL by 59.2% during the third quarter. Comerica Bank now owns 465 shares of the company’s stock valued at $27,000 after purchasing an additional 173 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in GRAIL during the fourth quarter valued at $28,000. Elyxium Wealth LLC purchased a new stake in GRAIL during the fourth quarter valued at $31,000. Finally, Intesa Sanpaolo S.p.A. purchased a new stake in GRAIL during the fourth quarter valued at $44,000.
About GRAIL
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.