Grifols (NASDAQ:GRFS) Shares Gap Up - Still a Buy?

Grifols, S.A. (NASDAQ:GRFS - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $9.00, but opened at $9.44. Grifols shares last traded at $9.62, with a volume of 483,885 shares changing hands.

Analysts Set New Price Targets

GRFS has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Grifols from $7.60 to $10.30 and gave the company a "neutral" rating in a research note on Tuesday, June 17th. Wall Street Zen raised shares of Grifols from a "buy" rating to a "strong-buy" rating in a research note on Monday.

Grifols Price Performance

The company's 50 day moving average price is $8.37 and its 200-day moving average price is $7.73. The stock has a market cap of $6.70 billion, a P/E ratio of 8.33, a P/E/G ratio of 0.32 and a beta of 0.55. The company has a quick ratio of 0.97, a current ratio of 2.60 and a debt-to-equity ratio of 1.13.

Institutional Investors Weigh In On Grifols

Large investors have recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in shares of Grifols during the first quarter valued at about $28,000. Tower Research Capital LLC TRC lifted its position in shares of Grifols by 354.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,124 shares of the biotechnology company's stock valued at $60,000 after purchasing an additional 6,335 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Grifols during the fourth quarter valued at about $75,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Grifols during the fourth quarter valued at about $77,000. Finally, Ballentine Partners LLC bought a new position in shares of Grifols during the first quarter valued at about $77,000.

About Grifols

Grifols, SA operates as a plasma therapeutic company in Spain, the United States, Canada, and internationally. The company provides immunoglobulin to treat immunodeficiencies; albumin used to restore circulatory volume and protein loss in pathophysiological conditions, such as liver cirrhosis, cardiocirculatory failure, trauma and severe burns; alpha-1 proteinase inhibitor, a plasma protein, used to treat a genetic disease known as alpha-1; factorVIII/von Willerbrand factor and factor IX, clotting factors for the treatment of hemophilia A and von Willebrand's disease, as well as hemophilia B; antithrombin III to treat hereditary antithrombin deficiency; Fostamatinib, a spleen tyrosine kinase inhibitor; combination of fibrinogen and enzyme thrombin that acts as a biological sealant to control surgical bleeding; and plasma exchange with albumin used to treat Alzheimer's disease.