Knight Therapeutics (TSE:GUD) Trading 1.6% Higher - Still a Buy?

Key Points

• Knight Therapeutics' share price increased by 1.6%, reaching a last trading price of C$6.27 with significant trading volume, up 180% from the average.
• Canaccord Genuity Group set a price target of C$6.50 for the stock, with two analysts rating it as a "buy" and two as a "strong buy," indicating strong confidence in its potential.
• The company has a market capitalization of C$634.21 million and a negative P/E ratio of -20.93, highlighting its current financial performance challenges.

Knight Therapeutics Inc. (TSE:GUD - Get Free Report)'s stock price rose 1.6% during mid-day trading on Tuesday . The stock traded as high as C$6.31 and last traded at C$6.27. Approximately 181,254 shares changed hands during mid-day trading, an increase of 180% from the average daily volume of 64,832 shares. The stock had previously closed at C$6.17.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group set a C$6.50 price objective on Knight Therapeutics and gave the stock a "buy" rating in a research report on Friday, May 9th. Two equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Knight Therapeutics has a consensus rating of "Strong Buy" and a consensus target price of C$7.15.

Knight Therapeutics Price Performance

The company has a current ratio of 3.36, a quick ratio of 1.79 and a debt-to-equity ratio of 7.52. The firm has a market cap of C$640.28 million, a price-to-earnings ratio of -21.13, a price-to-earnings-growth ratio of -1,013.50 and a beta of 0.50. The stock has a 50-day moving average of C$6.03 and a two-hundred day moving average of C$5.87.

About Knight Therapeutics

Knight Therapeutics Inc develops, manufactures, acquires, in-licenses, out-licenses, markets, and distributes pharmaceutical and consumer health products, and medical devices worldwide. It offers Tafasitamab for relapsed or refractory diffuse large B-cell lymphoma; Pemigatinib for metastatic cholangiocarcinoma; Akynzeo for prevention of chemotherapy-induced acute and delayed nausea and vomiting; Aloxi for prevention of acute nausea and vomiting associated with emetogenic cancer chemotherapy; Fostamatinib for chronic immune thrombocytopenia; Nerlynx for extended adjuvant breast cancer and metastatic breast cancer; Trelstar for advanced prostate cancer; Vidaza for myelodysplastic syndrome; Abraxane for metastatic pancreatic cancer; Halaven for metastatic breast cancer and soft tissue sarcoma; and Lenvima for advanced renal cell cancer and for differentiated thyroid cancer and unresectable hepatocellular carcinoma.