Grifols (NASDAQ:GRFS) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Grifols’ price target from $10 to $9 while maintaining a “neutral” rating, implying 12.71% potential upside from the prior close.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Reduce” rating and a $9 target, with two analysts at “Hold” and one at “Sell.”
• Grifols shares rose 5.6% to $7.99 on Monday, while several institutional investors recently increased their holdings in the biotechnology company.

Grifols (NASDAQ:GRFS - Get Free Report) had its target price dropped by JPMorgan Chase & Co. from $10.00 to $9.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 12.71% from the stock's previous close.

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

Grifols Stock Up 5.6%

NASDAQ:GRFS traded up $0.42 on Monday, hitting $7.99. 288,337 shares of the company's stock traded hands, compared to its average volume of 636,477. The company has a current ratio of 2.37, a quick ratio of 0.81 and a debt-to-equity ratio of 1.10. Grifols has a 1 year low of $6.96 and a 1 year high of $9.90. The firm has a 50-day moving average price of $7.58 and a 200-day moving average price of $7.71. The company has a market cap of $5.43 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 0.28 and a beta of 0.70.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC lifted its stake in shares of Grifols by 68.7% in the 3rd quarter. Signaturefd LLC now owns 4,372 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 1,781 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Grifols by 41.1% in the third quarter. GAMMA Investing LLC now owns 6,588 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 1,918 shares in the last quarter. Versant Capital Management Inc increased its position in Grifols by 36.0% during the second quarter. Versant Capital Management Inc now owns 6,958 shares of the biotechnology company's stock worth $49,000 after buying an additional 1,842 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Grifols by 50.3% during the first quarter. PNC Financial Services Group Inc. now owns 8,961 shares of the biotechnology company's stock worth $72,000 after buying an additional 2,998 shares during the last quarter. Finally, Financial Symmetry Inc acquired a new position in Grifols during the third quarter worth $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.

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