Brokerages Set $29.67 Target Price for G1 THERAPEUTICS (GTHX)
G1 THERAPEUTICS (NASDAQ:GTHX) has been assigned an average broker rating score of 1.25 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation and three have given a strong buy recommendation to the company.
Brokers have set a twelve-month consensus price target of $29.67 for the company, according to Zacks. Zacks has also given G1 THERAPEUTICS an industry rank of 109 out of 265 based on the ratings given to related companies.
A number of brokerages have recently commented on GTHX. Cowen and Company reiterated a “buy” rating on shares of G1 THERAPEUTICS in a research report on Wednesday, August 9th. Zacks Investment Research cut shares of G1 THERAPEUTICS from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th.
In related news, major shareholder Medimmune Ventures, Inc. sold 200,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $20.01, for a total transaction of $4,002,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fredric N. Eshelman acquired 250,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average price of $19.73 per share, with a total value of $4,932,500.00. The disclosure for this purchase can be found here.
Institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. acquired a new stake in G1 THERAPEUTICS during the third quarter worth about $130,000. California State Teachers Retirement System purchased a new position in G1 THERAPEUTICS during the third quarter worth about $319,000. Schwab Charles Investment Management Inc. purchased a new position in G1 THERAPEUTICS during the third quarter worth about $364,000. Alps Advisors Inc. purchased a new position in G1 THERAPEUTICS during the second quarter worth about $444,000. Finally, Bank of New York Mellon Corp purchased a new position in G1 THERAPEUTICS during the third quarter worth about $568,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.
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Shares of G1 THERAPEUTICS (GTHX) traded up $0.55 during midday trading on Thursday, hitting $20.80. 205,200 shares of the stock were exchanged, compared to its average volume of 96,595. G1 THERAPEUTICS has a 1-year low of $12.04 and a 1-year high of $28.67.
About G1 THERAPEUTICS
G1 Therapeutics, Inc is a United States-based clinical-stage biopharmaceutical company. The Company is engaged in developing small-molecule therapies for the treatment of cancer. Its two clinical-stage candidates are trilaciclib (G1T28) and G1T38, which are potent, selective inhibitors of the validated kinase targets CDK4/6.
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