GRAIL (NASDAQ:GRAL) Price Target Raised to $155.00

GRAIL (NASDAQ:GRAL) had its target price raised by Guggenheim from $75.00 to $155.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently commented on GRAL. Royal Bank Of Canada started coverage on shares of GRAIL in a report on Thursday, September 17th. They issued a “sector perform” rating and a $84.00 price target on the stock. UBS Group set a $84.00 price objective on shares of GRAIL in a report on Thursday, September 17th. Wall Street Zen raised shares of GRAIL from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. Mizuho upped their target price on shares of GRAIL from $65.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, September 25th. Finally, The Goldman Sachs Group assumed coverage on shares of GRAIL in a research note on Friday, June 5th. They issued a “neutral” rating and a $60.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $102.70.

GRAIL Stock Performance

Shares of GRAL stock opened at $143.26 on Thursday. The stock has a 50 day moving average price of $85.11 and a 200 day moving average price of $68.85. GRAIL has a 52-week low of $41.50 and a 52-week high of $151.46. The firm has a market capitalization of $6.40 billion, a P/E ratio of -14.69 and a beta of 2.83.

GRAIL (NASDAQ:GRAL) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($2.56) EPS for the quarter, beating the consensus estimate of ($2.66) by $0.10. GRAIL had a negative return on equity of 15.88% and a negative net margin of 236.95%.The company had revenue of $44.69 million for the quarter, compared to the consensus estimate of $42.39 million. As a group, sell-side analysts forecast that GRAIL will post -10.41 EPS for the current year.

Insider Transactions at GRAIL

In other GRAIL news, CEO Joshua Ofman sold 61,452 shares of the stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $97.74, for a total transaction of $6,006,318.48. Following the transaction, the chief executive officer directly owned 362,271 shares in the company, valued at $35,408,367.54. This represents a 14.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aaron Freidin sold 4,100 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $93.34, for a total transaction of $382,694.00. Following the transaction, the chief financial officer directly owned 248,983 shares in the company, valued at $23,240,073.22. This trade represents a 1.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 78,452 shares of company stock valued at $7,485,691. 1.83% of the stock is owned by insiders.

Hedge Funds Weigh In On GRAIL

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp increased its holdings in shares of GRAIL by 26.1% in the 2nd quarter. State Street Corp now owns 2,385,514 shares of the company’s stock valued at $162,859,000 after acquiring an additional 493,621 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of GRAIL by 26.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,597 shares of the company’s stock worth $1,474,000 after acquiring an additional 4,498 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of GRAIL during the 2nd quarter worth $82,000. Arizona State Retirement System lifted its stake in shares of GRAIL by 8.6% during the 2nd quarter. Arizona State Retirement System now owns 10,470 shares of the company’s stock worth $715,000 after purchasing an additional 833 shares during the last quarter. Finally, Nykredit A S bought a new stake in GRAIL during the second quarter valued at about $96,000.

GRAIL Company Profile

GRAIL, Inc is a healthcare company focused on developing blood-based technologies for the early detection of cancer. Its goal is to identify cancer signals before symptoms appear, when treatment may be more effective, by applying genomics, machine learning and other analytical methods to blood samples.

The company’s primary product is the Galleri multi-cancer early detection test, a prescription laboratory-developed test designed to screen for signals associated with multiple types of cancer from a single blood draw.