GRAIL (NASDAQ:GRAL) Given New $75.00 Price Target at Guggenheim

Key Points

• Guggenheim cut its price target on GRAIL from $130 to $75 while keeping a "buy" rating, implying roughly a 55% upside from the prior close.
• Analyst consensus is a Moderate Buy with an average target of $72.83; analysts' targets range about $60–$110 and the ratings mix is four Buys, one Hold and one Sell.
• GRAIL traded at about $48.43 (market cap ~$1.99B) and remains unprofitable with negative earnings metrics and high volatility, while insiders (including the CEO and president) have recently sold shares.

GRAIL (NASDAQ:GRAL - Get Free Report) had its target price cut by stock analysts at Guggenheim from $130.00 to $75.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price objective would suggest a potential upside of 54.88% from the company's previous close.

Several other equities analysts have also recently commented on the stock. 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 note on Tuesday, February 24th. Canaccord Genuity Group lowered their target price on GRAIL from $105.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Robert W. Baird set a $82.00 price target on GRAIL in a report on Friday, February 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of GRAIL in a research report on Thursday, January 22nd. Finally, TD Cowen upgraded GRAIL from a "hold" rating to a "buy" rating and set a $65.00 price objective for the company in a research note on Wednesday, March 18th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, GRAIL presently has a consensus rating of "Moderate Buy" and an average target price of $72.83.

GRAIL Stock Down 0.1%

NASDAQ:GRAL traded down $0.07 on Monday, reaching $48.43. 121,268 shares of the company's stock were exchanged, compared to its average volume of 1,278,891. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -4.29 and a beta of 5.18. GRAIL has a 52-week low of $20.44 and a 52-week high of $118.84. The business has a fifty day moving average of $74.47 and a 200-day moving average of $79.33.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The company reported ($2.44) EPS for the quarter, beating the consensus estimate of ($3.33) by $0.89. GRAIL had a negative net margin of 277.46% and a negative return on equity of 17.11%. The business had revenue of $43.60 million during the quarter, compared to analyst estimates of $43.33 million. As a group, equities analysts anticipate that GRAIL will post -15.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Robert P. Ragusa sold 7,461 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $47.89, for a total transaction of $357,307.29. Following the sale, the chief executive officer owned 642,084 shares of the company's stock, valued at approximately $30,749,402.76. This trade represents a 1.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua J. Ofman sold 2,937 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $47.89, for a total value of $140,652.93. Following the sale, the president owned 432,881 shares of the company's stock, valued at approximately $20,730,671.09. The trade was a 0.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,294 shares of company stock valued at $3,955,224 in the last ninety days. Insiders own 1.85% of the company's stock.

Institutional Trading of GRAIL

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRAL. Perigon Wealth Management LLC boosted its holdings in shares of GRAIL by 0.7% in the 4th quarter. Perigon Wealth Management LLC now owns 19,450 shares of the company's stock valued at $1,665,000 after buying an additional 133 shares in the last quarter. Parallel Advisors LLC raised its stake in GRAIL by 5.2% during the 4th quarter. Parallel Advisors LLC now owns 2,667 shares of the company's stock worth $228,000 after acquiring an additional 133 shares in the last quarter. Westmount Partners LLC lifted its position in GRAIL by 1.8% in the fourth quarter. Westmount Partners LLC now owns 8,279 shares of the company's stock valued at $709,000 after acquiring an additional 150 shares during the last quarter. Comerica Bank lifted its position in GRAIL by 59.2% in the third quarter. Comerica Bank now owns 465 shares of the company's stock valued at $27,000 after acquiring an additional 173 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in GRAIL by 19.3% in the fourth quarter. Whittier Trust Co. now owns 1,114 shares of the company's stock valued at $95,000 after acquiring an additional 180 shares in the last quarter.

GRAIL Company Profile

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.

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