JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Grifols (NASDAQ:GRFS) Stock

Grifols (NASDAQ:GRFS - Get Free Report) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $7.60 to $10.30 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 13.31% from the company's previous close.

Separately, Wall Street Zen raised Grifols from a "hold" rating to a "buy" rating in a research note on Friday, May 23rd.

Grifols Stock Up 2.5%

NASDAQ GRFS opened at $9.09 on Tuesday. The stock's 50 day simple moving average is $7.74 and its 200 day simple moving average is $7.57. Grifols has a one year low of $5.79 and a one year high of $9.96. The firm has a market cap of $6.25 billion, a PE ratio of 7.77 and a beta of 0.53. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.26 and a quick ratio of 0.79.

Hedge Funds Weigh In On Grifols

A number of institutional investors have recently modified their holdings of the stock. Soleus Capital Management L.P. grew its stake in shares of Grifols by 46.1% during the fourth quarter. Soleus Capital Management L.P. now owns 6,605,425 shares of the biotechnology company's stock valued at $49,144,000 after purchasing an additional 2,083,722 shares during the last quarter. Norges Bank acquired a new position in Grifols during the 4th quarter worth $14,434,000. New York State Common Retirement Fund boosted its position in Grifols by 50.5% in the 1st quarter. New York State Common Retirement Fund now owns 2,452,728 shares of the biotechnology company's stock valued at $17,439,000 after buying an additional 823,456 shares during the last quarter. Credit Industriel ET Commercial acquired a new stake in shares of Grifols in the 4th quarter valued at $4,537,000. Finally, Brandes Investment Partners LP increased its stake in shares of Grifols by 3.0% in the 4th quarter. Brandes Investment Partners LP now owns 20,496,093 shares of the biotechnology company's stock valued at $152,491,000 after buying an additional 592,096 shares during the period.

Grifols Company Profile

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.

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