Grifols (NASDAQ:GRFS) Stock Price Target Cut by JPMorgan Chase & Co.

Grifols (NASDAQ:GRFS) had its price objective decreased by analysts at JPMorgan Chase & Co. from $10.00 to $9.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 12.71% from the stock’s current price.

GRFS has been the topic of a number of other reports. Wall Street Zen lowered shares of Grifols from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Weiss Ratings upgraded shares of Grifols from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Finally, Zacks Research raised Grifols from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Grifols has a consensus rating of “Reduce” and a consensus price target of $9.00.

Grifols Stock Performance

Shares of NASDAQ:GRFS traded up $0.42 during trading on Monday, reaching $7.99. The stock had a trading volume of 288,337 shares, compared to its average volume of 636,477. The stock has a fifty day simple moving average of $7.58 and a two-hundred day simple moving average of $7.71. The company has a quick ratio of 0.81, a current ratio of 2.37 and a debt-to-equity ratio of 1.10. Grifols has a 52 week low of $6.96 and a 52 week high of $9.90. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 42.47, a P/E/G ratio of 0.28 and a beta of 0.70.

Institutional Investors Weigh In On Grifols

Several hedge funds have recently modified their holdings of GRFS. Signaturefd LLC grew its stake in shares of Grifols by 68.7% in the third quarter. Signaturefd LLC now owns 4,372 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 1,781 shares during the last quarter. GAMMA Investing LLC increased its position in Grifols by 41.1% during the third quarter. GAMMA Investing LLC now owns 6,588 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 1,918 shares during the period. Versant Capital Management Inc raised its stake in Grifols by 36.0% during the 2nd quarter. Versant Capital Management Inc now owns 6,958 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 1,842 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Grifols by 50.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,961 shares of the biotechnology company’s stock valued at $72,000 after purchasing an additional 2,998 shares during the last quarter. Finally, Financial Symmetry Inc acquired a new position in Grifols during the 3rd quarter valued at $73,000.

About Grifols

Grifols SA is a global healthcare company headquartered in Barcelona, Spain, specializing in plasma-derived medicines and diagnostic technologies. The company develops, manufactures and markets therapies made from human plasma, including immunoglobulins, albumin and coagulation factors used to treat immune deficiencies, bleeding disorders and other chronic conditions.

Grifols operates a vertically integrated plasma business that includes plasma donation centers, collection and fractionation facilities, research and development, manufacturing and distribution.